Do you give Trade-in figures online?

[Jlewis74]

You have to accept the fact that they're already shopping you.

Try and overcome the objection a couple times but if you're unsuccessful then give him a range or an "as much as" then go back to building value in yourself, dealership, and/or process.

Jeremy, do you live near Chicago? As a member of our customer care team I'm here to ensure our guests have a comfortable and enjoyable experience. I'd be happy to have my pre-owned manager help you with an appraisal before you visit.

No Bill not near you. I want to make sure everyone knows I am not trying to make this a issue. I just learn everything I encounter a learning op either for myself or other and thought it would be good conversation for here.

 

[ddavis]

Would you buy a used car sight unseen? That is what you are asking them to do. I never gave used car appraisals over the phone. If I lost a deal, so be it. If the guy pressed me, like you are doing, I would high ball them. That is a figure that nobody would match including me.

 

[Bill Simmons]

So if a customer submits an E-Quote form, do some of you not give a quote?

I hope not. Why would you not discuss trade values with the customer?

If you don't there are many other dealers in your market that will! And many of their websites have appraisal tools that already provide the customer with a value for their trade, AutoTrader TIM, PureCars, BlackBook etc.

The AutoTrader TIM tool actually goes so far as to guarantee the number subject to a final inspection at the dealership. Like everything else we have to train our staff how to handle those requests. Getting an appointment is always the goal.

The approach that seems to work best for us for customers that have used one of our trade tools is to establish right up front that it is an estimate and in many cases "we can actually pay more for your vehicle once we have seen it, when can we schedule an appointment for the inspection?"

You can also mention that you are interested in buying their car even if they do not buy one from us, we want their car and willing to pay top dollar!! I can share with you that throughout our 11 stores, month end and month out, the two most used forms our customers use are the trade appraisal tool and the credit app.

Not all of our stores have an appraisal tool on the website, but the ones that do receive 3 times the trade appraisal requests than those that do not. I feel it is something you just have to do and come up with an approach and word track that works for your store.

 

[Jlewis74]

So if a customer submits an E-Quote form, do some of you not give a quote? I hope not. Why would you not discuss trade values with the customer? If you don't there are many other dealers in your market that will! And many of their websites have appraisal tools that already provide the customer with a value for their trade, AutoTrader TIM, PureCars, BlackBook etc. The AutoTrader TIM tool actually goes so far as to guarantee the number subject to a final inspection at the dealership. Like everything else we have to train our staff how to handle those requests. Getting an appointment is always the goal. The approach that seems to work best for us for customers that have used one of our trade tools is to establish right up front that it is an estimate and in many cases "we can actually pay more for your vehicle once we have seen it, when can we schedule an appointment for the inspection?" You can also mention that you are interested in buying their car even if they do not buy one from us, we want their car and willing to pay top dollar!! I can share with you that throughout our 11 stores, month end and month out, the two most used forms our customers use are the trade appraisal tool and the credit app. Not all of our stores have an appraisal tool on the website, but the ones that do receive 3 times the trade appraisal requests than those that do not. I feel it is something you just have to do and come up with an approach and word track that works for your store.

Great response as always Bill!

 

[ddavis]

So if a customer submits an E-Quote form, do some of you not give a quote? I hope not. Why would you not discuss trade values with the customer? If you don't there are many other dealers in your market that will! And many of their websites have appraisal tools that already provide the customer with a value for their trade, AutoTrader TIM, PureCars, BlackBook etc. The AutoTrader TIM tool actually goes so far as to guarantee the number subject to a final inspection at the dealership. Like everything else we have to train our staff how to handle those requests. Getting an appointment is always the goal. The approach that seems to work best for us for customers that have used one of our trade tools is to establish right up front that it is an estimate and in many cases "we can actually pay more for your vehicle once we have seen it, when can we schedule an appointment for the inspection?" You can also mention that you are interested in buying their car even if they do not buy one from us, we want their car and willing to pay top dollar!! I can share with you that throughout our 11 stores, month end and month out, the two most used forms our customers use are the trade appraisal tool and the credit app. Not all of our stores have an appraisal tool on the website, but the ones that do receive 3 times the trade appraisal requests than those that do not. I feel it is something you just have to do and come up with an approach and word track that works for your store.

Bill, we used Trade In Marketplace successfully within a process and on our website. Somebody calling the local dealers for bids on a used car, without picking out a vehicle, is another thing. I didn't run an appraisal service keeping other dealers honest.

 

[Jeff Kershner]

I didn't run an appraisal service keeping other dealers honest.

And this is exactly how most managers view it...

This action conditions your sales team to be fearful to approach a manager for a (ballpark) figure. How many times does a sales person need to hear "I'm not an appraisal service" or "tell them I need to see it" from the used car manager before they get the picture and no longer ask. INSTEAD they find a way of dealing with it themselves...

1. Appraise the vehicle themselves using the same online service the customer is using (possibly blowing the opportunity and deal)

2. Completely flub up the call, pissing the customer off and never getting the opportunity. "I'm sorry Mrs. Customer, but my used car manager needs to see the car in person or else won't give you a value for it" - CLICK.​

As Grace points out - you're not in the game until you're willing to play ball.

For managers: Encourage your sales people to approach you for information (figures). What better opportunity to coach your sales team on what to say. How many vehicles could you be missing out on that you would REALLY WANT on your lot and would be willing to place a good figure on?

The customer is calling you for a reason!! They're looking for an answer to a question, they're looking for YOUR HELP. If they're "keeping another dealer honest" then they obviously don't trust that dealership and here's a great opportunity to WIN the customer over and set an appointment. No one says you need to give the customer an exact figure - the customer isn't even expecting you to (not really).

 

[dgedificeguy]

From the beginning of the call I would reiterate with the customer that the trade-in figure is nothing more than an estimate. It will probably be more if they came in for an appointment, it could possibly be less but to get the most accurate figure the customer needs to come to the dealership. Give a example to him/her like a real estate appraiser would not give a final value on a home they have never viewed and most people will understand why this is not realistic in the automotive industry as well. Maybe the customer is not 100% satisfied with the trade-in price but appreciates how your dealership helped them and explained it to them, and still wants to do business with you because you did not try to "trick" them into coming in.

 

[Jeff Kershner]

If you don't there are many other dealers in your market that will! And many of their websites have appraisal tools that already provide the customer with a value for their trade, AutoTrader TIM, PureCars, BlackBook etc.

The AutoTrader TIM tool actually goes so far as to guarantee the number subject to a final inspection at the dealership. Like everything else we have to train our staff how to handle those requests. Getting an appointment is always the goal.

First off - GREAT advice Bill. Everyone, give Bill a "like", right now.

This was another reason I liked having TIM (Trade-in Market) on the showroom floor. You would give the customer a ball park figure but then follow-up with a completely different approach with the customer.

Mr. Simmons, sure sounds like you have a nice 2009 Toyota Tacoma on your hands. And from what you have told me so far, sounds like a vehicle we would very much like to have on our lot.

Bill, I'm sure you have an idea of what you want for your Tacoma. BUT I don't want to know - so don't tell me, it wouldn't be fair.

According to the different online used car value services and even our own appraisal tools we have here at the dealership - it looks as if your vehicle has a CASH value of between 13 to $17,000. I'm not telling you anything you don't already know. However, I've seen my used car manager offer even higher amounts on really nice ones, but of course he would need to do a live trade evaluation....

...appointment close

-- Throw TIM into the mix --

Mr. Simmons, even with a cash value of 13 to $17,000, here at ABC Toyota we do something VERY different. We have our customers appraise their own vehicle. How does that sound?

We've partnered with AutoTrader.com. So when you arrive at the dealership, you're going to walk around your own vehicle while answering a few particular questions.

Once you have competed appraising your own vehicle, AutoTrader.com will send your information to a team of analysis that place top dollar cash values on vehicles just like yours. Once the value has been established, they will email or call you while here at the dealership within minutes with the instant value.

The process only takes a few minutes. Fair enough?

...appointment close


Seize the Opportunity - you only get so many. Crafting the right words makes all the difference. Build the customers interest, gain some level of trust, work a cliffhanger into the word-track/conversation so the customer extends a self obligation to at least give you the opportunity.

 

[Adam Thrasher]

Shoppers are simply looking for information. If you do not provide the information they are looking for, they will go somewhere else that will.

The more information you provide the shopper, whether it be online, over the phone or in person, the easier it is for them to make a purchase decision. Refusing to give a shopper a trade in value is equivalent to telling them you don't want their business.

I realize that some shoppers will take the information you give them and do business somewhere else, but most won't if you provide them with a good experience. Processes and training are essential to make sure that the entire staff knows how to handle the situation.

There are plenty of tools out there that will help, but if you don't have the processes and training, it doesn't matter which tools you use.

 

[SeanWoodruff]

You can't just "not give a customer the information" and leave it at that.

What you can do is explain to them why its extremely difficult to evaluate a vehicle over the phone, and get them to understand why its in their best interest to bring it in.

"We are one of the largest used car volume dealers in the state and consistently pay above market value for trade-ins. My Used Car Manager already has a couple buyers in mind for your '96 Escort and we desperately need vehicles that are fuel efficient as we head into summer. We're having a huge sale today and my General Manager has given my Sales Managers permission to step up on every trade-in in order to sell 25 cars today. I have 3 appointment slots open today, a 12:45, a 3:30, and a 6:15, which one works best for you to bring your vehicle in for a quick evaluation?"