Rapid Recon and Velocity Automotive, driven by Vehlo, announced today at the National Automobile Dealers Association convention ’24 a multiparty system for closing the trade appraisal reconditioning cost gap.
This gap costs dealerships hundreds to thousands of dollars per trade due to the variance between appraiser-estimated and accurate recon costs.
ASPIRE’s diagnostic tool, VINSight, powered by VinTel and from Velocity Automotive, is a unique OBD-2 scan device. It provides appraisers VIN-specific, mechanical, and electrical system appraisal “X-ray” diagnostics and actual, not estimated, reconditioning costs for the make and model.
“All used car managers across the United States of America share a big fear – we don’t want to make a mistake. This profit per vehicle strategy couldn’t have come at a better time,” said Jared Ricart, President of the Ricart Automotive Group, whose used car operation sells 600 to 800 used cars monthly.
“Profit per vehicle is about accuracy and saving that one vehicle –we appraised it for this number, and we estimated this profit, and can we execute that promptly?” said Matt Hubiak, the director of preowned operations for the Swickard Auto Group, which operates 50 franchises across 33 rooftops in Alaska, Washington, Oregon, California, and Texas.
General managers committed to the consistent practice of this appraisal advantage:
Appraisers at dealerships using Rapid Recon reconditioning software and VINSight now have quantifiable data to make more informed trade offers and disposition decisions: retail, wholesale, or part-out trade, whichever approach maximizes profit.
VINSight is easy to use. A quick explanation to the vehicle owner and the shared scan inspection report relieves emotions. It provides transparent, actual repair costs, not what the appraiser or the owner wants it to mean. Plugged into the vehicle’s OBD port, VINSight extracts systems diagnostics and error codes — including recent reset codes – in 30 seconds. General managers who insist their appraisers use VINSight:
With Digital Vehicle Portfolios (DVP) from Velocity Automotive, salespeople can be inventory experts on all brands, makes, and models and elevate how you and your customers engage with your inventory.
“The number one reason to have vehicle portfolios is that cars sell faster and give us remarkable insight when appraising. Without them, a used car is just a used car,” said Jeromie Allan, partner and executive manager for Gary Yeomans Ford of Daytona Beach, Florida. “And, as no two used cars are alike, these portfolios enable us to speak more intelligently with customers about any car in our inventory.”
DVPs attached to your website listings enable interested shoppers to pull up everything they want to know about the vehicle they’re shopping for from one resource. The DVP describes the car down to its VIN-explosion features and, with OEM sticker pulls, reveals the window sticker details on the vehicle when new. DVPs provide reconditioning inspection and costs spent on the vehicle by the dealer to make the car stand tall. Condition reports detail any physical or flood damage to the vehicle. Third-party price information helps calculate budget needs.
Visit us at NADA ’24, Booth 3363W.
