Offer Deductions has become Offer Adjustments!
Working with our major stakeholders to improve Instant Offer, we have renamed the Offer Deductions section to Offer Adjustments. This coincides with new functionality that has been introduced, as when you select 'Instant Offer' as an Action type, you now have the option of selecting whether the value you input will be either an addition or a deduction.
With this update, you gain greater control over whether your customers answers to the questions will give them a greater or lesser offer, hence making selling their vehicle more or less desirable.
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Condition disabled when selecting Typical Dealer Asking Price as Starting Valuation
When Kelley Blue Book provides a Typical Dealer Asking Price on a vehicle, it does so with the expectation that the Condition of the vehicle is 'Very Good'. Taking this into account, should you select Typical Dealer Asking Price as your Starting Valuation value, we have now disabled the Condition selector knowing that the 'Very Good' condition is what this is judged as.
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Non-adjusted value now in Offer Validation
To ensure our legal compliance for our products, when you now use Offer Validation to review the potential Instant Offers and/or Price Ranges for particular vehicles, you will now see a new field called 'Adjusted Starting Value' which is the total valuation amount without any of the deductions/additions taken into account throughout the Rules Engine.
By adding this, you are able to review what the initial valuation amount is so it can be taken into account when you are considering your Instant Offer Rules Engine strategy.
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Target specific Makes and Models for alternate Starting Valuations!
As part of our commitment to constantly improve Instant Offer, we have introduced Make and Model Adjustments so that you can select Makes and/or Models to have alternate Starting Valuations, Condition assessments and Starting Value Adjustments to your overall Rules Engine, so that you can either create percentage based additions or deductions to these vehicles.
The outcome of this, is to make the selected vehicles either more or less desirable to customers completing an Instant Offer.
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Price Range now reacts to Offer Adjustments
Should your customers receive a Price Range after completeing all of their questions through the Instant Offer tool online, you can now have confidence that the minimum and maximum values of the Price Range now take into account any additions or deductions created by the Offer Adjustment section.
For example, should you have added a $2000 Load deduction as part of your Rules Engine strategy, the Price Range shown in the image above would be recalculated to be $26,395 - $29,705 and this new value would be displayed to the customer when they receive the range.
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Update your customers Instant Offer results in Engage
Once your customer has completed their Instant Offer online and received their initial offer, our customers that also have our Engage product receive the lead details and all the selections the customer has made in order to receive their offer.
With this release, we have updated Engage to now be able to update the Instant Offer details your customer has selected, based on the results of your inspection so that you can easily recalculate the offer amount your customer should have received based on your assessment.
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