When looking to buy their next car the first thing consumers need to do is to evaluate the cost to change, i.e., the price of the new car minus the value of their current car. There are numerous websites available to consumers that are designed to estimate their car’s value; however a true indication of the trade-in value can be difficult to find, especially with fluctuations in the used car market and variations by location.
Many websites require for a long, lengthy online enquiry form to be completed before a figure is shown, and this is incredibly frustrating for consumers when all they require is that one figure that will help them identify which car they can afford to buy. Consumers are less likely to visit more than one website when looking for a valuation, and if the first result is based on ill-informed information, the consumer can often be left feeling disappointed if subsequently the genuine trade-in value is lower than expected when it comes to visiting a dealer. On the other hand, websites such as webuyanycar.com will often under quote. The best option, therefore, is to receive a more accurate estimation of the value of the car directly from the dealer in order to feel safe in the knowledge that they are not being ripped-off.
GForces plug-in vehicle valuation tool has been developed in conjunction with CAP, the industry’s leading valuation provider. By drawing on CAP data, consumers are offered accurate and impartial valuations of their existing vehicles based on up-to-date trade figures. With the level of research that is being conducted online in the automotive industry and with motoring portals offering valuation services, dealers are not getting the most out of the 29% market share that they currently have.
With the objective to achieve 100% customer satisfaction across all business areas, Wessex Garages has integrated GForces’ online valuation tool as part of building a ‘digital dealership’. It’s already evident that the online valuation tool helps to attract consumers to the Wessex Garages website, as thousands of valuations are conducted per month. Offering a valuations service is not only beneficial for dealers looking to obtain new stock, but it is also, more importantly, a very useful sales lead.
Keith Brock, Managing Director at Wessex Garages said: ““We’ve been able to generate around 1,300 additional leads into the business which have been fully qualified and directly attributable to converting more than 170 sales. There are obvious financial benefits that come from this solution.”
Many consumers looking for a valuation on their car will be considering part-exchanging and they will be looking for the best deal, not only for the new car but for the true value of their current car. There are numerous articles online advising consumers on how to part-exchange and the most important piece of advice is to get a fair price for your current car. Consumers like transparency – the dealer who is clear and up-front about their valuation process and who offers an instant tool to find out the value of their car is far more likely to attract leads.
The final quote for the car will of course depend on the condition of it as evaluated by the dealer in person, but online valuations can give customers the motivation to spruce up their car with a quick wash and head down to the dealer.
The online valuation tool fits well alongside further tools, such as a finance calculator, on-site insurance quotation tools, and advanced used car search facilities. All these tools help the potential customer through the buying process, while collecting data and securing opportunities for conquest sales for the dealership.