New INDICATA equipment and options functionality helps dealers improve accuracy of part exchange values and retail prices

INDICATA’s new functionality gives dealers the true worth of an option or equipment in the used market

A dealer’s used car inventory is automatically recorded inclusive of equipment levels and options which ensures values are always based on the latest market price movement

INDICATA UK has launched new equipment and options functionality on its INDICATA used car insights portal that will help dealers improve the accuracy of their part exchange valuations and appropriately price their stock to be competitive. 

Different equipment options impact used values by different levels depending on the segment of car. For example, it is vital to consider options in the premium segment cars differently to small cars. INDICATA’s platform does exactly that and provides dealers the true worth of an option based on the millions of vehicles INDICATA assesses every day.

Each dealer’s used car inventory is automatically recorded inclusive of equipment levels and options which ensures values are always based on the latest market price movement. That way dealers have a real time value of used cars they have in stock, a major benefit for larger dealer groups with a mix of franchises, and for car supermarkets where pricing is competitive and profit margins are slim.

Generally, the higher value the car, the more optional equipment it is likely to have fitted on it which means if the dealer appraisal is inaccurate, they risk under valuing the part exchange and compromising a sale. Alternatively, if the dealer under values the car when selling it in the retail market it risks potentially losing thousands of pounds.

INDICATA’s approach enables dealers to compare their used cars with similar stock and similar options in their local area to ensure their part exchange valuation and retail pricing is competitive. 

This approach is made possible by using the INDICATA’s team’s vast knowledge of used markets and compares favourably with competitor platforms that adopt the same fixed percentage without considering changing market conditions.

“Today’s trend is for drivers to want to drive bespoke cars. Historically this trend only occurred on premium cars but now many value brands differentiate their models with countless equipment options,” said Jon Mitchell, INDICATA UK’s sales director.

“This has made the valuation process even more difficult for dealers, which is where our new functionality takes used valuations to the next level. We are not working with averages but judging the value of each equipment level and option in the market in real time,” he added.

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