DESTIN, Fla., June 22, 2023 /PRNewswire/ — Auto dealers wanting to sharpen their used car trade appraisal results and flow more revenue throughout the dealership can learn how from a June 29 webinar by Josh DeYoung, vice president of Sales for Velocity Automotive, at the Digital Dealer conference, Las Vegas.
“In today’s fluctuating marketplace, appraisal accuracy has never been so critical. Capturing a higher percentage of trade-in opportunities has tremendous opportunity potential for dealerships, which we must become more diligent about,” DeYoung said.
Accurate appraisals contribute to customer satisfaction, fair trade-in values, and overall dealership success.
In this presentation, Driving Appraisal Success with Precision: Using the Power of Accurate and Transparent Valuations. DeYoung will discuss the power of technology and data analytics as they relate to such critical trade appraisal decisions as:
- Market Trends and Pricing: Access to real-time and historical data helps to analyze pricing trends and fluctuations. Now appraisals align with market dynamics and avoid overvaluation/undervaluation.
- Improved Consistency and Standardization: Reduce subjective bias and increase accuracy using objective parameters – for example, providing clarity into deductions and repairs that help consumers understand the trade process better.
- Predictive Analytics for Future Values – Using market, economic, and vehicle depreciation trends and patterns helps dealers anticipate how a vehicle’s value will change over time – especially valuable for trade-ins and lease returns.
- Managing Expectations – Tools and communications for reducing disappointment or misunderstandings and using open communications to enhance customer satisfaction.
- Regulatory Compliance –Compliance is essential to safeguard against dishonest behavior and avoid legal issues, fines, or reputation damage. Appraisals are subject to various legal and regulatory requirements.
To register for this timely webinar, visit the Digital Dealer Appraisal Effectiveness webinar.
About Velocity Automotive
Velocity Automotive, headquartered in Destin, FL, delivers innovative automotive retailing technology solutions that transform how dealerships acquire, recondition, and merchandise pre-owned inventory – all while helping build consumer confidence. Velocity Automotive gets inventory retail ready faster and more efficiently using a digital workflow process that provides dealers window stickers for accurate buying strategies, optimizing the recon process and digital vehicle portfolios that engage and convert automotive shoppers. Velocity Automotive is a Vehlo company. For more information, visit velocityautomotive.com and vehlo.com.
Shelley Waller, Marketing Coordinator
SOURCE Velocity Automotive