Tuesday, November 25, 2008

Turkey Time

Except for the Big Meal nationally planned for Thursday, the entire iLUXCARS team - Sales, Marketing, Development, Logistics, Accounting, (even Art!) will be working all Thanksgiving weekend. We, like most of you, are prepared for a big, successful Black Friday. (And Saturday, and Sunday.)

The iLUXCARS.COM site, of course, is always available (we're an Internet Company) and if you enter a Live Trade or an Appraisal even in the middle of pumpkin pie, the System will be working on it.

Some of your cars may have expired when you get back to the office on Friday. You'll need to look in the 'My Expired Vehicles' list and click Re-Open to turn them back into Live Trades. Simple. Fast.

Remember, if you start any deal without iLUXCARS then you are taking a serious, unnecessary risk. Start your deal right. We're here to help you make money.

Even while we're eating turkey.

Thursday, November 20, 2008

Interested?

One of the most frequently asked questions we get typically starts with "What ever happened to that..." 

To address this, we've added a new feature that allows you to view and express interest in recently expired Live Trades on the site.  To view the list, click on "Recently Expired" under "My Account."

If you see a car you are interested in, click on the "I'm Interested" link at the right of the list:

When you do this, a notification is immediately sent to your account manager. Your account manager will call the seller to see what state their deal is in and, if possible, re-open the car if it's still available.

A bunch of you are already using this feature - many successfully. Let us know what you think, and, as always, we welcome your feedback, comments, questions, and suggestions.

Tuesday, November 11, 2008

Fear and Greed

At iILUXCARS, we pride ourselves in having our finger on the heartbeat of our industry. And right now, the heartbeat of the luxury car world is beating a little fast. 

Sure, there is uncertainty about things - about prices, customers, even the future of big chunks of the industry. People are distracted.

We know this because good cars at very good prices aren't getting good bids. We think it's fear. 

Warren Buffet recently wrote an op-ed piece in the New York Times. He had an interesting quote: He said, "A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful.

Smart guy, that Warren Buffet.

Look at it this way - Prices are down. People are fearful. Sounds like a good time to buy.

Be like Warren. Be greedy.


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.