How to Polish the Part-Exchange Process
- April 12, 2018
- Posted by: Kari Jones
- Category: Products, Tips For Dealers
The importance of refining the part exchange process is often overlooked, despite the fact that this aspect of dealership management can have a significant impact on sales performance.
From a customer’s point of view, a part exchange valuation could make or break a sale. The two main factors which matter to people looking to trade in and upgrade their vehicle are efficiency and accuracy.
According to AM Online, the average dealer takes six hours to respond to an enquiry, however, the average customer will only wait an hour before looking at another dealer’s site. To ensure that no leads are lost, it is important to regularly check incoming queries.
As well as fast responses, people will also want to know that they are getting a fair deal, and you should reassure them of this as much as you can. If a customer does not believe that they are getting a fair quote, the sale will be at risk of falling through.
Part Exchanging Online
Failure to respond quickly or convince a customer that your valuation is accurate could result in the sale falling through, and at Click Dealer, we not only recognise this, but have also devised a solution to prevent these factors from being an issue with customers.
Our online retailing product, ClickEngage™ handles each stage of a purchase, from initial enquiry to reservation, allowing users to build and customise their deal, adding finance plans, warranty, paint protection and a part exchange.
If a user chooses to add a part exchange, they will be asked for their vehicle registration, a DVLA look up will be conducted and a Cap HPI valuation returned in seconds. They won’t need to wait for a call, if the customer is happy with the quote, they can proceed with their reservation straightaway.
The beauty of ClickEngage™ is that is gives customers control over their own deal, so they can see exactly what is being added and how quotes are calculated. This provides transparency, as users can see the quote come back instantly, so they will have no reason to believe that it has been altered in your favour. However, you can set ClickEngage™ to display values which are a certain percentage below the Cap HPI average, according to your business model, so that you maintain a substantial degree of control without having to be involved with every individual part exchange valuation.