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NADA 2020 — Las Vegas, February 15–17

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Manheim Express mobile application for dealers

Online tools streamline trade-in appraisal process for dealerships, buyers

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Article Highlights

  1. Manheim Express: ... allows dealership personnel to scan the VIN and immediately get an estimate of the vehicle's value from the Manheim Market Report, as well as automaker build data, in many cases.
  2. Then the dealership can decide whether to list the vehicle online with Manheim, order an inspection, consign it to a physical Manheim auction, or get a guaranteed price from Manheim for the vehicle, subject to the dealership buying it from the owner.
  3. Manheim says its main competitive advantage is that it immediately posts the vehicle to all Manheim online markets, drawing on the strength of the auction giant's huge buyer base.

For decades, the first negotiation at a dealership was over the trade-in’s value. And it wasn’t just store vs. customer. Often, the debate pitted the salesman against the used-car manager.

A higher trade-in appraisal could save the deal, the new-car salesman knew. But overpay, and the used-car department could be stuck with an almost guaranteed loss on the vehicle. It was a debate fraught with subjectivity.

No more. At the 2018 NADA Show in Las Vegas last month, several vendors were demonstrating appraisal tools that promise to take the guesswork out of how much a dealership should offer for a trade-in. Here’s a look at some of them.

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