Saturday, November 1, 2008

About Appraisals

Over the last few months the number of deals that start in the appraisal stage has grown dramatically. We've put a lot of emphasis on this because the appraisal allows us to do two very important things.

One, an iLUXCARS Appraisal provides you a real time look at the current vehicle value within minutes. The appraised value shows you today’s money, based on the most recent transactions from the system. 

Two, the appraisal value can be used to both educate yourself and, more importantly, get a commitment from your customer to sell the car. 

An appraisal is not a buy bid from iLUXCARS. You cannot accept this offer. The number is to be used to get a commitment from your customer that will make the deal. After you get the commitment, convert the appraisal to a fresh trade and we'll open the vehicle up for the entire network to see. 

Most of the appraisals that are converted into live trades get bids - offers you can accept - that are very close to the appraised value. In fact, on average, deals that are converted from an appraisal and accepted bring an average of $694 MORE than the appraised value.

iLUXCARS is able to get this close because we have access to hundreds of millions of dollars worth of transactions - all through the iLUXCARS system. And all of this is at your fingertips 24 hours a day. All part of the system.

Appraisals. Faster. Safer. Better.

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