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How bout' 110%...... Posted by Mike Lynch [Email] (#81) [Profile/Gallery] (more from Mike Lynch) on Fri, 25 Jun 2004 18:43:01 In Reply to: Anyone get dealer letter lately?, PeterG, Fri, 25 Jun 2004 16:53:34 Members do not see ads below this line. - Help Keep This Site Online - Signup |
That's what we used to advertise at Saturn. Kelley Blue Book makes a software program called Karpower that for a fee includes a "market value" program.
You plug in the yr, mk, mdl, mi, adds and stuff and then estimate the reconditioning expense neccessary, tires, brakes, bodywork etc. and it spits out a number. I developed the software for this at Saturn in the late 90's. It involed a check list for every conceivable thing that a car might need like tires = $100 each, low profile or truck tires $150, windshiled $500 (those Saturn windshiled were expensive!) and stuff. Then you added an additional base figure of $350, even for the car that doesn't need a thing and, walla' "market value".
It's very similar to the consumer KBB.com website under trade in value except that the entry is for an actual dollar amount of "recon" instead of estimating the condition, excellent, good, fair, poor etc.
Dealers who use this system must train their folks to be thourough on the used car evaluation as someone with experience can pick apart any used car. If you disagree with the number, the consultant is able to point at the computer, it's not his opinion after all, but the computer's. Points the blame away from the evaluator and consultant, takes the heat off therefore sustaining the buying process.
When the used car market was strong at Saturn we used to go 110%. With this method the dealer is gonna' win some and lose some, but over all do OK. It's a rational process rather than a number coming from a mystery appraiser.
And market value using the KBB program is way, way, way back of actual wholesale Kelley Blue Book in every case.
posted by 63.197.222...
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