Live Local Market
When buying and selling a successful dealer doesn't rely on guide book values alone; they also make sure that they properly understand their retail market. Failing to do so can result in poor buys and costly errors. Carbly offers extremely detailed and robust data for your live local retail market. Let's take a look at the specifics of the report below.
Make sure that you don’t overlook the blue CPO / non-CPO toggle in the top right-hand corner of the screen. It lets you switch back and forth between CPO and non-CPO. As an indie dealer use this feature to make sure that you are not over-estimating your market ceiling based on CPO comps.
When sufficient data is available a mileage adjusted suggested retail price will be shown so that you can easily see where you should slot in with competitors. Our vehicle has 33K miles so it’s a fraction more than average.
Average price, average mileage and median days on the lot allow you to see how your vehicle stacks up against the average that is available.
When data is available the history section will show you the average price for a vehicle with a clean history and the average price for one with a bad history (branded title, damage or accident), as well as the average market reduction applied to vehicles with tarnished history reports. This data is especially useful when it comes to understanding the impact of a bad Carfax report. In the example on the left you can see that that figure is $735.00.
The green graph shows the range of pricing in the market and how competitors are distributed across it. This feature is helpful when determining who you should compete with when it comes to price. Note that in our example to the left, the majority of comps are priced between $14K-$17K.
The trim table shows the average price for all of the available trims for the model you are appraising. To those unfamiliar with a brand, this helps you determine how price progresses through the model range. It also stops you straying into the range of a different trim when determining price and value.
Lastly we have a detailed list of market comps showing their price, days on lot, mileage, history status and their distance from you. Comparing these comps to the data above will reveal which of the competitors you should consider most relevant.
You can subscribe to Live Local Market for only $35 per month or use it with other guidebooks to benfit from more data and a tiered discount.
