Pricing Vehicles - What way do you do it? $20,000 - $19,995 - $19,999, $19,938, $19,988 ?

[kcar]

What price format works best, what does everyone else use?
I lean more towards $19,995 vs. $20,000 even.

 

[ddavis]

I know that this was on DealerRefresh but I couldn't find it on here. This was included on a thread. Credit Jasen Rice of vAuto. internet pricing | Velocity | DalePollak.com

 

[joe.pistell]

Zillow, our pals in real estate, wrestles with the EXACT same question

Five Strategies for Pricing a Home to Sell | Zillow Blog - Real Estate Market Stats, Celebrity Real Estate, and Zillow News

 

[john.quinn]

I know that this was on DealerRefresh but I couldn't find it on here. This was included on a thread. Credit Jasen Rice of vAuto. internet pricing | Velocity | DalePollak.com

Our Used Car guy recently presented me with this article. Makes a point, doesn't it?

 

[Kyle Green]

I think this approach can be a little deceiving... Not all 3rd party sites use the $10,000 - $15,0000 platform. Case in point, cars.com, says $10,001 - $15,000. Now that strategy loses it's core philosophy.

Note: My cars are priced at $20,000 etc...

 

[yagoparamo]

Because Craigslist is the dominant site in my market and peole tend to search for hole number ranges I've been recomending to price them with rounded numerals (20000, 15000, etc).

I have a few dealers that have been doing this for a while, I can get some info on how their leads have improved/not improved.

 

[bzweifel]

I've been pushing for 20,367 - 18,310 - 20,257 etc.

To me 19,999 is a 20,000 the same way 20,257 is a 20,000 car.

 

[yagoparamo]

I've been pushing for 20,367 - 18,310 - 20,257 etc.

To me 19,999 is a 20,000 the same way 20,257 is a 20,000 car.

But not to the customer with a budget. Someone looking for a Toyota Corolla for under 20000 (and we think that way) will not see your 20257.

Someone looking for a Prius in the 17000-20000 range, or in the 20000-23000 range (and again, we think that way) will find that 20000 in both cases.

 

[bzweifel]

But not to the customer with a budget. Someone looking for a Toyota Corolla for under 20000 (and we think that way) will not see your 20257.

Someone looking for a Prius in the 17000-20000 range, or in the 20000-23000 range (and again, we think that way) will find that 20000 in both cases.

Point taken. I misunderstood the question and gave a poor example. You're talking about ranges rather than $.97 vs $0.99 vs $1.00.

I would agree with you for hot button ranges:
under $10,000 - under $15,000 - under $20,000 etc.

Those ranges aside, I've found that customers call both 12,997 & 13,250 "thirteen thousand" . The same would go for 11 , 12 , 13 , 14 , 17 , 18 , 19 . I realize I am probably the minority on this. I'm okay with that. To each his own.

 

[mattwatson81]

Some dealers also use the price to know the age of the vehicle, if it has been marked down, it is a special etc. The last digit being a 6 vs 7 vs 8 vs 9 could be a code for something.