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Pricing Vehicles - What way do you do it? $20,000 - $19,995 - $19,999, $19,938, $19,988 ?

Jun 14, 2011
427
33
First Name
B
What price format works best, what does everyone else use?
I lean more towards $19,995 vs. $20,000 even.
 
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Sep 16, 2011
22
3
First Name
Kyle
I think this approach can be a little deceiving... Not all 3rd party sites use the $10,000 - $15,0000 platform. Case in point, cars.com, says $10,001 - $15,000. Now that strategy loses it's core philosophy.

Note: My cars are priced at $20,000 etc...
 

yagoparamo

Boss
Dec 30, 2009
1,892
494
First Name
Yago
Because Craigslist is the dominant site in my market and peole tend to search for hole number ranges I've been recomending to price them with rounded numerals (20000, 15000, etc).

I have a few dealers that have been doing this for a while, I can get some info on how their leads have improved/not improved.
 

bzweifel

Rust & Dust
Oct 13, 2011
223
85
First Name
Blake
I've been pushing for 20,367 - 18,310 - 20,257 etc.

To me 19,999 is a 20,000 the same way 20,257 is a 20,000 car.
 

yagoparamo

Boss
Dec 30, 2009
1,892
494
First Name
Yago
I've been pushing for 20,367 - 18,310 - 20,257 etc.

To me 19,999 is a 20,000 the same way 20,257 is a 20,000 car.
But not to the customer with a budget. Someone looking for a Toyota Corolla for under 20000 (and we think that way) will not see your 20257.

Someone looking for a Prius in the 17000-20000 range, or in the 20000-23000 range (and again, we think that way) will find that 20000 in both cases.
 

bzweifel

Rust & Dust
Oct 13, 2011
223
85
First Name
Blake
But not to the customer with a budget. Someone looking for a Toyota Corolla for under 20000 (and we think that way) will not see your 20257.

Someone looking for a Prius in the 17000-20000 range, or in the 20000-23000 range (and again, we think that way) will find that 20000 in both cases.
Point taken. I misunderstood the question and gave a poor example. You're talking about ranges rather than $.97 vs $0.99 vs $1.00.

I would agree with you for hot button ranges:
under $10,000 - under $15,000 - under $20,000 etc.

Those ranges aside, I've found that customers call both 12,997 & 13,250 "thirteen thousand" . The same would go for 11 , 12 , 13 , 14 , 17 , 18 , 19 . I realize I am probably the minority on this. I'm okay with that. To each his own.
 

mattwatson81

Getting Refreshed
Apr 10, 2009
334
10
First Name
Matt
Some dealers also use the price to know the age of the vehicle, if it has been marked down, it is a special etc. The last digit being a 6 vs 7 vs 8 vs 9 could be a code for something.