Improving our Inventory Processing Process

[Ryan Everson]

I am not sure what it is at the moment because I need to make some sales.

What's your product or service offering?

 

[Ryan Everson]

OMG Carsten, your not going to believe what I found out in a dealer meeting yesterday. CarMax is creating a program to work trade/sell appraisals with car dealers. Its NOT the physical act of the appraisal itself, it's sort of a appraisal marketplace.

more as it comes...

I figured they would be headed down that path since Edmunds' trade tool (owned by CarMax) for car dealers currently guarantees that all offers are backed by CarMax. If a dealer doesn't want the car, CarMax will take it at the Edmunds trade tool offer price. Similar to KBB ICO offers being backed by Manheim.

 

[Tallcool1]

OMG Carsten, your not going to believe what I found out in a dealer meeting yesterday. CarMax is creating a program to work trade/sell appraisals with car dealers. Its NOT the physical act of the appraisal itself, it's sort of a appraisal marketplace.

more as it comes...

Yes, I met with them at our National Convention. As you're saying, it's not really what @Carsten was leading towards, but it's something that will soon exist.

What I envisioned from our meeting is something similar to CarOffer's 24 Hour Bid.

 

[Jon Singo]

OMG Carsten, your not going to believe what I found out in a dealer meeting yesterday. CarMax is creating a program to work trade/sell appraisals with car dealers. Its NOT the physical act of the appraisal itself, it's sort of a appraisal marketplace.

more as it comes...

Are you referring to MaxOffer or something else?

 

[Carsten]

My CarMax statement was based on 3 cars that I traded in at that Chevy Dealer in Austin. It could have just been the sales person. It wasn't my idea that's for sure.

Could it be that they are needing to source vehicles and also take a nifty profit for a service they have been doing?

 

[Ryan Everson]

My CarMax statement was based on 3 cars that I traded in at that Chevy Dealer in Austin. It could have just been the sales person. It wasn't my idea that's for sure.

Could it be that they are needing to source vehicles and also take a nifty profit for a service they have been doing?

Trade-ins are gold to car dealers.

A dealer will typically only give up a trade if they know the vehicle won’t sell at their dealership (ie: Mercedes at a Chevy dealership in blue collar town, another white Malibu LS fleet car, etc) or they just really need the car deal.

Sourcing inventory from auctions and wholesalers typically results in much lower grosses.

 

[joe.pistell]

Are you referring to MaxOffer or something else?

VinCue & MaxOffer partnership

 

[BillKVMotorCo]

VinCue & MaxOffer partnership

As a VinCue user, I'm intrigued...

 

[joe.pistell]

My CarMax statement was based on 3 cars that I traded in at that Chevy Dealer in Austin. It could have just been the sales person.

Reps dont get paid/rewarded for trades. My gut says it's a sales rep that has a lot of friction in the trade-in branch of the workflow, so they crafted a wordtrack that speeds the sale.

 

[joe.pistell]

As a VinCue user, I'm intrigued...

Bill, ask your Vincue rep. I know the CPO of CarMax and he's all in on MaxOffer. This maybe another topic that may work into your merchandising messaging