Navigating Vehicle Appraisal: A Comprehensive Guide
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IN THIS ARTICLE:
Getting Started with Vehicle Appraisal
From your Homepage, go to the Inventory on the menu then choose the Appraise New Vehicle option:
Next, you can enter the Vehicle Identification Number (VIN) or use the VIN scanner in the DealerCenter mobile app to add the vehicle’s mileage.
This step is crucial whether you're evaluating trade-ins or considering auction purchases. It helps you ascertain a vehicle's market value and profitability before it becomes part of your active inventory.
Understanding Book Values
Once you've entered the vehicle details, our system automatically decodes the VIN and pulls up the relevant book values based on your subscription services:
The Appraisal Value Calculator feature enables you to automatically calculate an appraisal value by entering information such as your desired percentage of book value, additional costs for reconditioning, and your targeted gross profit:
Market-Based Pricing
For those subscribed to Market-Based Pricing, this functionality offers insights into how vehicles are priced in real-time markets. It allows you to ensure that your pricing is competitive. Check out this support article for more details: DC Market Pricing
The calculator utilizes Market Pricing Data to help determine the ideal asking price by accounting for all associated costs and your desired profit margin. Additionally, it provides a view of where your asking price stands in the current market landscape.
Market Data analyzes a vast number of vehicles, pulling in millions of VINs daily. You can see the market average price for similar vehicles in your area and use filters to narrow your comparison further — for instance, to vehicles with similar trims or technology packages. This tool allows you to adjust the vehicle price by using a slider to set the percentage of Market or rank values.