Cazana has recently launched the Cazana comparison platform, Companion to allow dealers to price check a vehicle based on the current retail market instead of the traditional way - with past trade values.
The app allows users to search for a vehicle's current retail value and includes an accurate "days to sale" measure that shows dealers how long a vehicle will take to sell.
Companion practices two key measurements for revenue, "days to sell" and the available profit on the automobile to help dealers focus on the fast-moving, high margin cars. This helps vehicles sell quickly and, according to Cazana, helps make a larger profit in the competitive market.
The valuations use a combination of trade selling price data and current retail data to give a user real-time valuation of what customers are paying for similar vehicles now. They're adjusted by age, mileage, condition, specification, and what they are worth at trade (auction of part-exchange) or in the wholesale market.
The process is simple. Dealers enter the registration of the vehicle of interest. Companion identifies the vehicle, calculates what the current retail value is, then advises on the right trade price to pay for the car. The total coverage of Cazana's used retail market provides what is considered the only 'top-down' valuation tool giving an accurate current retail price.
“The industry has been asking for an accurate, current view of retail and wholesale values for a long time. Cazana Companion is a great asset to anyone who needs to value vehicles giving them an edge when pricing their vehicles for maximum profit, the best return on investment and the fastest sale," stated the director of valuations at Cazan, Rupert Pontin.
The service offers more vehicle information other than its current retail value, including depreciation, technical data, and other vehicles that are on sale as well, allowing the dealers to benchmark prices against similar vehicles.
Steve Worrell, sales director at Cazana, added: “The profit corridor indicator on Cazana Companion allows dealers to make instant decisions, leading to improved margin and faster sales at the right price. This data science led insight will give customers using Cazana tools and data an edge and certainly helps identification of significant profit opportunities.”
Cazana claims to be the UK's most comprehensive online vehicle checker reveals the hidden history behind all cars, bikes, and vans.
Join us in Miami from the 20th to the 22nd of June for the Global Online Marketplaces Summit. Our summit theme is From Classifieds to Marketplaces – Capturing Value from the Transaction and we’ll hear from Global Leaders who are creating the Online Marketplaces of Tomorrow.