Trade-In Offer | Rules Engine - Offer Configuration

Introduction

The Rules Engine is where you enter in all the specific information for the offers that you will provide your customers, including any Configuration, Exclusion and Deductions.

Once you click Rules Engine from the menu, you will need to setup the Rules Engine to ensure that all vehicles that go through the Instant Offer tool on your website are being valued based on the configuration you create.

Instructions

Offer Configuration

This section is where your primary valuation rules reside. Use the dropdowns to select the right Offer Configuration for your dealership based on the details below and add in the number of days that your offer will be valid for:

Starting Valuation

The Starting Valuation is a choice of 3 options of Trade-in, Typical Dealer Asking Price or Auction Value. When choosing this value, you must consider this value as the pricing foundation before any of the depreciative values are considered.

• Trade-In: The Kelley Blue Book Trade-In Value is Kelley Blue Book’s estimate of what a consumer can expect to receive from a dealer for a trade-in vehicle assuming an accurate appraisal of condition
• Typical Dealer Asking Price: The Kelley Blue Book Typical Dealer Asking Price is representative of dealers’ asking prices. It assumes that the vehicle has been fully reconditioned and considers the dealers’ profit and costs for advertising. The final sale price will likely be less, depending on the car’s actual condition, popularity, warranty and local market factors
• Auction Value: The Kelley Blue Book Auction Value is Kelley Blue Book’s estimate of what a vehicle is expected to sell for at a wholesale auction. It assumes the seller has properly disclosed the condition of the vehicle. It does not include buyer’s fees or the buyer’s transportation costs and assumes the vehicle has not yet been fully reconditioned, inspected and prepared for retail sale.

Make and Model Adjustments

To either maximise or detract the value given to your customers, you can choose to select Makes and/or Models to have different Starting Valuation, Condition and Starting Value Adjustment percentages that you wish.

Once you have made the selections and clicked 'Save Adjustment', the values given to your customers for these Makes and Models will take these conditions into account prior to the answer deductions they make in the Offer Deduction categories.

Condition

Applicable to Auction and Trade-In only, there are four types of Conditions that you can set your customer valuations to be judged as when they are submitting their vehicles, regardless of what they enter themselves or the depreciative values. Typical Dealer Asking Price will always deem the condition as Good.

• Excellent: Looks new and is in excellent mechanical condition
• Very Good: Has minor cosmetic defects and is in excellent mechanical condition
• Good: Has some minor repairable cosmetic defects and is free of mechanical problems
• Fair: Has cosmetic defects that require repairing and/or replacing and may require minimal mechanical maintenance

Starting Valuation Adjustment

Should you wish to adjust the starting valuation that your customers receive, you can enter a value to either add or deduct a percentage to whatever the resulting valuation that is shown to them.

Maximum Deduction Cut-Off

This is the percentage cut-off that when reached, means that the offer for the customer will be rejected but still available for inspection.

Offer Valid Duration Days

This is the number of days that an Instant Cash Offer will be valid for, between receiving the offer valuation and when the customer must present the vehicle for inspection at the dealership.