Live Local Market Is Now More Powerful
Added in the v2.2 release, Live Local Market already displayed the number of like competitor vehicles in your area, their average price and mileage, median current days on lot, a suggested mileage specific retail price, a price distribution graph and a trim table. Building on that robust market insight, we have added some more features for v2.3.
Ask anyone in the trade and they will confirm that the specific history and resulting CARFAX report of a vehicle can have a significant impact on its value and market opportunity. Understanding that impact and knowing how to properly adjust your acquisition cost and sale price can be tricky though.
In an effort to address this we have added history data to the Live Local Market report. When sufficient comps exist within your market, clean history average displays the average price for cars with a clean history and not clean history average displays the average price for cars that do not have a clean history. For these numbers a bad history is determined by recorded damage, a recorded accident or the vehicle having a salvage title. The not clean history adjustment shows average price reduction in your market for a vehicle with a bad history versus a like example with a clean history.
In addition to vehicle history information we thought it necessary to provide users with more information when assessing competitor vehicles for sale within their market. To address this need we added a detailed list of the vehicles in your market, highlighting price, days on lot, mileage, their distance from you and history report clean or not clean.
Adding these features to the already robust data in the Live Local Market report makes it quick and easy to fully understand your market before buying at wholesale and accurately price for retail to optimize turn, market opportunity and profit.
We all have habits and preferences when appraising used vehicles or pricing them for retail. Our users asked for more control about how their data was arranged in the app so we delivered. From the settings page, a user can now arrange the guide books and reports in whichever order best suits their needs, making it even quicker to get to the information that they rely on the most.
The Small Details
The Real Retail report shows actual historical retail comps from almost 50% of dealers in the US which makes it invaluable. Retail pricing is integral whether you are buying at auction or determining your pricing strategy for the lot. Seeing actual final sale prices and profits from competing dealers removes the guesswork when buying and selling. If you know what vehicles are really selling for you won't overpay in the lanes at auction because you followed an inflated asking price and you'll know exactly what sale price to aim for on the lot, preventing you from missing your market opportunity and watching a vehicle age.
We made improvements to the report so that it shows comps from all regions on much fewer occasions and also refined it to better present the most recently available data, keeping the information relevant to the current market.
Carbly Vin Scanner v2.4
There are already big things in the works for v2.4 which we will share as soon as they are ready. In the meantime, if you have any questions feel free to reach out.