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Today Kelley Blue Book announced the integration of its Instant Cash Offer tool with vAuto’s Provision tool to help dealers win more trades and maintain or improve efficiency during the appraisal process which helps overall gross profits.
Dealers are currently facing a difficult dilemma: While inventory is entering the market and turning at a rapid rate, profit margins continue to decline. Furthermore, the average cost to market on a trade-in has risen more than 1.2 percent every year for the last three years, according to a 2019 Historical Margin Compression Study from Cox Automotive, making the fight for profitable inventory more competitive than ever. With the rise of online bidding and national competitors, dealers must utilize technology to improve efficiencies and distinguish themselves from rivals to win more trades.
Evolving with these industry dynamics, the Instant Cash Offer integration with vAuto Provision’s appraisal report improves dealer efficiency by helping them find and improve win rates on needed trade-ins. Features of this integration include:
- An appraisal report enhanced with Instant Cash Offer information allows dealers to clearly see how effective the offers are in helping to efficiently find and maximize trade-in win rates to improve profit margins.
- Easily add or associate Instant Cash Offers to the vAuto appraisal report, bringing together valuable information about the vehicle.
- An exclusive market report containing Instant Cash Offer information gives dealers access to other offers for similar vehicles to validate the offer and provide a more comprehensive view to help dealers win the trade.
- Easily identify existing Instant Cash Offers on recommended vehicles dealers need, sourcing inventory directly from the consumers versus typical acquisition methods.