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CarFax Car Values and their NEW Price Calculator

Get back to us with the results when you come across one with a -$850 value.

How often do customers come in asking for thousands off the asking price?

$850 seems like an easy obstacle to me...

Also not a very common one, and probably on a 5 owner car that was going to get beat up on price as it was anyways.

I am willing to bet almost every used car dealer would be glad to knock $850 off a car to spot it.
 
In regards to the $850 off example, I know a lot of stores, our included who using vAuto and similar pricing software would not be glad to knock $850 off a car as aggressively as we price them.

I understand that this is an obstacle that we now need to overcome and that it CHI can be used as a closing tool and used to hold on trades, but we were closing deals and holding on trades just fine without it. Ultimately I think CHI is is going to cost CARFAX business and are going to reaffirm the negative stigmas customers have with car dealerships. This is very unsettling for dealers like mine who concern themselves first with giving their customers a great purchase experience.

I know it has been a little bit since anything has been posted on this thread, so maybe there has been resolution to some of these issues. But has anyone got an answer besides the responses I get: "there's noone to talk to about it, CHI is here to stay."

Obvious concerns still are, in step 1 it just says to enter a book value, not which book, no mention of condition (which I know on KBB there is only one condition) obviously savvy customers can alter this to their favor. And vAuto dealers and the like know all to well that book values mean very little regarding the retail price of a used vehicle.

Concern of step 2, is that no one knows how the CHI is calculated.
 
In regards to the $850 off example, I know a lot of stores, our included who using vAuto and similar pricing software would not be glad to knock $850 off a car as aggressively as we price them.

Why in the world would you be taking $850 off of your lowest price?

It is $850 off of the "book" value...

Lets say for example there is a car with a book value of $20,000

Now lets say you have it list aggressively for $17,995 because of Vauto

CarFax is going to say that car is worth $19,150, you would then be $1,155 LESS than the recommended $850 off.

If you cannot easily overcome selling a vehicle for $850 less than "book" value there is something else wrong with the process.
 
Oh ok, gotcha.

But this brings me to question what book value? CARFAX doesn't say, so savvy consumers can make this favorable for themselves.

Obvious assumption is KBB and right now their retail values are high, that's not always going to be the case.

Bottom line, is that yes we can get over taking $850 off of book value with our customers, at least right now we can. However, why would CARFAX set this up without dealers discretion? Especially without clarification as to what book value is and without clarification of how CARFAX History Impact is calculated.

This all goes back to the point that dealers were closing deals just fine without CHI, all this ultimately will do is confuse/upset the customer and slow down the sales process.
 
I will revive this thread only to ask 1 question. I was at a Dealer that had a car that showed as a branded title and did not qualify for the buyback guarantee. According to Carfax it was worth +$120 over retail book.... How does that work?

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