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Prices on website... yes or no?

So...to price or not...Well, I have to say the 2 months ago my dealer had a staffed sale and management chose to take the price of all used cars off of our website (I was able to save AT & cars). The inquiries for that week tripled.

However, I would liken this to buying Facebook Likes. Just because some deal hound from 500 miles away sent in a lead doesn't make it a sell-able customer. Add to the influx of leads the fact the BDC could not quote prices for the duration of the sale and you wind up with a TON of angry non-customers and a damaged reputation. If they were to have called in, the guys on the floor were giving out quotes on the phone-and this happened to a number of people that when the BDC did their follow up calls they were screamed at for not providing the requested information.

My opinion is that not only did my BDC have to spend a lot of time chasing non-customers and take a beating, but we lost customers that would have bought by not having prices on our site for the reasons others have noted. My bounce rate went up 40% and the closing rate fell by 65%. If the BDC would have been able to quote and it had not been a staffed sale, maybe things would have gone better.

OH..and if these numbers weren't reason enough to price your cars...give me another 2 months, we have the same sale at the end of next month at our other store.


Kelly, any update you can share with us?
 
Thanks everyone for your responses. Some excellent information there and a few debate-worthy posts as well! In my humble opinion as a grizzled vet (ahem three and a half years in "the biz") I think that it boils down to trust. It is a lot more difficult to build the rapport needed to cultivate a relationship with a potential customer when they are an internet shopper. Not displaying price only confirms the incorrect assumptions that internet customers sometimes have about vehicle sales in general. Sales regardless of the product has always been a popularity game. If your customer likes you and trusts you they will buy from you!
Today's internet shopper is an information gathering machine. If you can toe the line between providing enough useful information to make an educated decision and maintaining profit, you will be a leg up on your competition and can maximize the lead generating potential of your most important showroom... Your website!
 
just a quick blurb of something that happened 2 days ago. We have a consultant who places vehicles on Criags List........pricing yes...not going there :) I take the phone calls at the dealership, and we had a call on this vehicle. Customer was asking about it, but wanted to know the miles on this vehicle, which I gave her. Wondering why she asked that, she indicated to me the miles on this vehicle were not in the listing. When I gave her the miles, it was to many than what she wanted, but in the course of my conversation, was able to describe another vehicle we had just taken in on trade. The long and short of it, we were able to sell this new trade to this phone contact off of Craigs List. Maybe this is not the pricing question started on this thread, but goes along with giving to much of the information. If this customer had the miles on the listing, saw it was to much for her, she was moving on to other listings, with our dealership not having a contact with her and the opportunity to describe other vehicles. So not having the miles on the listing did not come across to the customer as the dealership 'hiding' or playing with the pricing, but was enough that the customer saw the car, and liked it and the price, but needed to know the miles, thus the contact.....just was interesting.......more non-confrontational in the consumers eyes. In this type of case would the consumer be more likely to call...because they have the price, just need the miles, or would they move on like alot would if there was no pricing. It was just an interesting thing that happened and kind of goes along with this thread...was reminded by e-mail when someone posted recently :)
 
For a savvy shopper, omitting the miles is the same as not showing price. The assumption will be they are too high, and create an immediate wall.

**** A TIP *** One thing many dealers use to success on CL is to post a probable payment - not a stupid hook with a 0% rate with $10k down, but lik4 $2k down and 5%, with all the disclaimers. That is a win-win for the buyer, as many buyers are still surprisingly naïve in this regard. Also, use a BIG birddog fee for referrals!!