What's the Story?

Chatting with very strong independent dealer last night, about a nice Frontier. He was "on a phone-bid" but was staying put. Everything about the truck suited his lot, right colour, mileage, and fit his inventory…Except it was a gray market vehicle, it originated in the USA (this scenario fits on either side of the border)…it had too much of a story, for him to advance the bid.

In the used business, the less of a story the better. 

“Anything I should know about this vehicle?”  - anything other than “nope, straight up” adds to the degree of difficulty to sell. When the degree of difficulty to sell increases, the price you need to buy it for decreases. 

Something as simple as the vehicle history report saying “glass claim” as minuscule as it is…Adds to the story you need to tell. There are also the good stories. "One Owner, Sunday Driver" is as old a story as the industry. CPO, clean VHR, & with nav are all modern "good stories".

Data is now available to amend a vehicles price for both the good and bad "stories". And there are 100's of potential stories in every VIN.

Does your appraisal tool make the right adjustments?

Sean Liptay knows Trade-Ins.

Sean’s education started as part owner of TGNA, the largest independent auto auction in Atlantic Canada... which means, he sees 10,000 trade-ins a year!  He received his Undergrad in the wholesale market with his start-up Selectbidder, a dealer-dealer trade-in marketplace. He is now studying for his Masters, "taught” by the world’s largest automotive wholesaler, and the founder of Accu-Trade, Robert Hollenshead.

Rest assured, Sean's thesis, "Commoditizing the VIN with Accu-Trade" will dramatically change the automotive industry as we know it today.

?***every blog I write seems to remind me of a song...enjoy: Johnny Cash - One Piece At A Time