AT VRM

[Smcss 1]

Hi, 

I am new to the autotrader portal dealer world. I have tried the VRM where you put in the reg and mileage then it comes up with retail and trade prices, do a lot of you use these prices to sell your stock?
 

My AT account handler rang me saying to try this other software which gives you a measurement of how popular the car is within a 50 mile radius. For example, if you buy a car from the auction you simply put in the reg and mileage and it will show you how demanding that vehicle is within your area. 
 

I am just wondering whether anyone has used this software and has it made a difference?

Thanks

[MarkTVS 209]

It’s overpriced crap, had it thought it was more designed for main dealers and car supermarkets, it was telling me to buy insignias etc which aren’t great sellers for us.

[Smcss 1]

Thanks for the feedback, its a good job I didn't add the package onto my account! What would you recommend in how to price cars for retail? any particular software out there which can help? 

[Casper 272]

39 minutes ago, Smcss said:

Thanks for the feedback, its a good job I didn't add the package onto my account! What would you recommend in how to price cars for retail? any particular software out there which can help? 

I recommend looking at dealers in your area with similar stock and try and price similar some time pricing software can be far to high or low .   

[David Horgan 564]

Its that feeling in the fingers time again isn't it .

I had Autotrader guys who think this stuff up here last week , looking at how we decide to buy and why we choose what we do , They left very confused and  quite demoralised in their thoughts , they realised a computer didn't have that feeling in the fingers .

We had a game where they chose 10 cars to sell and priced them using their system , and i chose 10 cars . We then researched trade prices at BCA and what would make money . The were astonished at the prices and how far out AT was , but didn't understand it changes daily too " faster than  computer thinks " 

They then advertised 10 cars on my AT system and I advertised my choices , two days later I won hands down in the results of search patterns.  

We sell cars that are not available round our area but people travel to see us , we also sell cars that are popular round our area but never cheaper . 

Its that finger feeling that cant be taught , we all or most of us have some sort of finger feeling version don't we and its far more accurate as its time served over the years . 

The sale is down to us . 

 

[CRW 73]

8 minutes ago, David Horgan said:

Its that finger feeling that cant be taught

"I feel it in my fingers, I feel it in my toes....."

Sorry, couldn't resist it!

Agree totally, its all about gut feeling me.  You cant teach it and there are no rules.  

[Smcss 1]

the dealers around mine are the big dealers. I am just a small dealer starting off at home with 6 cars at the moment. Taking me 2 months to shift them. Guess my pricing is too low and I understand that can put people off. I offer warranty and finance. Have 80 pictures of the each car. Sell on Facebook, AT and sometimes eBay..

[Casper 272]

2 hours ago, David Horgan said:

Its that feeling in the fingers time again isn't it .

I had Autotrader guys who think this stuff up here last week , looking at how we decide to buy and why we choose what we do , They left very confused and  quite demoralised in their thoughts , they realised a computer didn't have that feeling in the fingers .

We had a game where they chose 10 cars to sell and priced them using their system , and i chose 10 cars . We then researched trade prices at BCA and what would make money . The were astonished at the prices and how far out AT was , but didn't understand it changes daily too " faster than  computer thinks " 

They then advertised 10 cars on my AT system and I advertised my choices , two days later I won hands down in the results of search patterns.  

We sell cars that are not available round our area but people travel to see us , we also sell cars that are popular round our area but never cheaper . 

Its that finger feeling that cant be taught , we all or most of us have some sort of finger feeling version don't we and its far more accurate as its time served over the years . 

The sale is down to us . 

 

 

2 hours ago, CRW said:

"I feel it in my fingers, I feel it in my toes....."

Sorry, couldn't resist it!

Agree totally, its all about gut feeling me.  You cant teach it and there are no rules.  

Well said lads 

[TangoVictor32 90]

5 hours ago, MarkTVS said:

It’s overpriced crap, had it thought it was more designed for main dealers and car supermarkets, it was telling me to buy insignias etc which aren’t great sellers for us.

Thats the thing most things nowadays because some "expert" recommends it usually its a load of tat and quick easy cash for the organisation provider.

As others have said do basic manual research. 

[J.T 39]

16 minutes ago, Smcss said:

the dealers around mine are the big dealers. I am just a small dealer starting off at home with 6 cars at the moment. Taking me 2 months to shift them. Guess my pricing is too low and I understand that can put people off. I offer warranty and finance. Have 80 pictures of the each car. Sell on Facebook, AT and sometimes eBay..

It's difficult trading from home and don't let anyone tell you otherwise, like you said you're competing with those big dealers so if you sell similar cars you're going to have to be much cheaper than them. If you are offering them too cheaply then people can think there is something wrong with them, I've had cars that I've reduced to turn stock over and you still don't open the door so put the price back up again and they sell!

I would take anything Autotrader have to say with a pinch of salt, their only goal is to extract as much money from you as possible. They don't live in the real world with us, if you go by their valuations and retail prices they think we buy cars for £3,000 and sell them for £5,000 and they charge us accordingly because we're making so much money. 

[Mark101 536]

10 minutes ago, J.T said:

I would take anything Autotrader have to say with a pinch of salt, their only goal is to extract as much money from you as possible. They don't live in the real world with us, if you go by their valuations and retail prices they think we buy cars for £3,000 and sell them for £5,000 and they charge us accordingly because we're making so much money. 

I find it the opposite - AT rep tells me that I should be working for £600-750 a bonnet.

Yeah right, like that’s going to work.

[chrishowie 14]

I work on Gut feeling most of the time. I look at AT's suggested market price then less £500!

I also research the hell out of each and every car nationally.

Then I check all known common faults and prices to repair etc etc before the car even lands.

Then I just buy it with my heart anyway : )

Only storage companies can sell empty spaces.... I  cannot

[Rory RSC 596]

4 hours ago, chrishowie said:

I work on Gut feeling most of the time. I look at AT's suggested market price then less £500!

I also research the hell out of each and every car nationally.

Then I check all known common faults and prices to repair etc etc before the car even lands.

Then I just buy it with my heart anyway : )

Only storage companies can sell empty spaces.... I  cannot

I see the target autotrader prices and use them as a starting point see how much more we can get.

[CRW 73]

4 hours ago, chrishowie said:

I work on Gut feeling most of the time. I look at AT's suggested market price then less £500!

I don't use Autotrader in any form at all, its pretty ineffective down in the far west. However, if you can make a living selling cars at £500 less than suggested market retail price, fundamentally CAP,  I'm genuinely amazed.   With cars making well over CAP clean most of the time now, I cant see where your margin is?

I personally take the approach that I price up £250-350 over CAP retail and use that as my negotiating margin.  I might sell more if I was working on smaller margins, but smaller margins don't pay the bills!  In effect you just end up a busy fool, chasing £500 across a car and when that car comes back to bite you, its painful.

Each to their own though.

[chrishowie 14]

On 10/21/2019 at 5:31 PM, CRW said:

I don't use Autotrader in any form at all, its pretty ineffective down in the far west. However, if you can make a living selling cars at £500 less than suggested market retail price, fundamentally CAP,  I'm genuinely amazed.   With cars making well over CAP clean most of the time now, I cant see where your margin is?

I personally take the approach that I price up £250-350 over CAP retail and use that as my negotiating margin.  I might sell more if I was working on smaller margins, but smaller margins don't pay the bills!  In effect you just end up a busy fool, chasing £500 across a car and when that car comes back to bite you, its painful.

Each to their own though.

Hi CRW,

I underwrite for a few independent dealers. Although we use BCA as well.

The independent small dealers are happy to go below cap / glass if they have reasons to, ELM light or marks / scuffs + damage. Its all about demographics and your place in the market of course.

I don't have a glass palace etc so often find the general punters expect less. (MOST anyway!)

Things at BCA are going mad at the min, over cap etc. Not for me as not my target market. I also do better with the cheaper end etc sub 5k.

£500 a car is okay on a £1500 car percentage wise, if I could make that within my other businesses I'd retire tomorrow.