@Dan Sayer What zip code is your Mazda for sale in? I could tell you what the average price/miles/days on market for any similar vehicles is within a certain miles radius. I can also tell you what those averages were for similar vehicles that sold in the last 90 days in that radius.@DrewAment you actually bring up a great point. In the scramble to align with shoppers, the Classifieds take it upon themselves to be the expert in making sure the customer knows the dealer isn't ripping them off. In their efforts they risk confusing the shopper further by cementing that the term "Market" is a moving target. Here is an example within our own inventory:
2017 Mazda Mazda6 Touring 24k miles - Provision 97% Mkt and 11 days old priced at $17,000
Cars.com = Good Deal with no added comment regarding "Why"
CarGurus = Fair Deal with added comment of $442 Below Market
CarFax = Fair Value with added comment of $140 Above CarFax Value (CarFax had to be different and use Blue to state this?)
Edmunds.com = Fair Deal with added comment of $349 Below Market
AutoTrader/KBB.com = Great Price with no added comment as to "Why" (if I value as a shopper in KBB value tool, "Typical Listing Price (CPO)" is $18,743 and "Fair Market Range (CPO)" is $16,665-$19,820)
TrueCar = Great Price with added comment of $304 off avg. list price
Shoppers may have more data at their fingertips but they sure are overloaded with "Expert" shopping advice from sources that don't buy and sell cars... Does anyone have insight to the market values each is running? Obviously KBB/AutoTrader is running their own Cox family values.
@GuyCampbell we use Provision by vAuto so have that data figured within our price strategies for each market. As for vendors, I would say with 99% confidence they all figure their price validation by geo.@Dan Sayer What zip code is your Mazda for sale in? I could tell you what the average price/miles/days on market for any similar vehicles is within a certain miles radius. I can also tell you what those averages were for similar vehicles that sold in the last 90 days in that radius.
Does anyone know if any of these valuation tools use the location of the vehicles in their valuations?