CHICAGO — Dealer software provider MAX Digital has launched MAX My Trade, a guided experience designed to improve the trade-in process for dealership teams and customers. Typically conducted on iPad, the customer and salesperson walk around the vehicle and mutually agree upon ratings on a 10-point scale for different aspects of the car, such as interior condition, brakes, and tires.
After the walkaround evaluation, a market-based appraisal report provides a fair market price combining the customer’s vehicle condition rating score with top book values of third-party validation sites such as Kelley Blue Book and NADA. Executives noted customer ratings naturally drive lower valuations, creating a positive environment for under-allowance, and the final trade offer is approved by the sales manager, so the dealership retains control.
“When you get customers involved in the appraisal process, they feel more in control, understand the fair value of their vehicle, and overall feel a lot better about the sales process,” said MAX Digital Executive Vice President Mike Cavanaugh. “Our dealer customers who have beta-tested MAX My Trade have seen this firsthand with an average 47% increase in front-end gross profits and improved CSI.”
Originally posted on Auto Dealer Today