New vehicle valuation platform connects dealers directly with private sellers and creates an efficient negotiation process for consumers to sell and trade-in their vehicles
TORONTO, May 16, 2019 /CNW/ - TRADER Corporation is pleased to announce a new partnership and launch of a certified vehicle valuation platform that simplifies the trade-in and selling negotiation process for both consumers and dealers. The company has partnered with New Brunswick-based Accu-Trade to introduce the Instant Cash Offer program in the Canadian market. The new platform makes it fast and convenient for consumers to sell or trade their vehicles, while also providing a new inventory source for automotive dealers across Canada.
70% of consumers don't know what their car is actually worth. 1
Results of a recent market research study indicate that consumers find negotiating with buyers and knowing the value of their vehicle most challenging in the selling and trade-in process. In fact, most do not know what their car is worth before entering the negotiation process, which can often be frustrating for both consumers and dealers. In addition, consumers generally do not like transacting with strangers when trying to sell their cars privately and are looking for a less stressful and more convenient option.
"While many parts of the car purchase cycle have moved online, negotiation remains one of the top pain points for consumers," said Jill Hadfield, Chief Product Officer at TRADER. "Instant Cash Offer provides a transparent, quick and easy process for consumers to understand the value of their vehicle, and then connects them directly with participating dealers to facilitate the purchase of their vehicle, in an equally transparent process."
Consumers looking to sell or trade-in their car can submit their vehicle information on autoTRADER.ca. A certified vehicle valuation is instantly generated based on the consumer inputs on the vehicle's condition and a calculation of market value, using the Accu-Trade appraisal system. Upon visiting the dealership, a professional vehicle appraisal is quickly completed, and the consumer can leave with a cheque or trade-in for another car the same day. The dealer then has the option to retail or wholesale the vehicle for profit or transfer to a local auction partner for disposal.
"Instant Cash Offer provides the transparency consumers have been looking for, and it offers a competitive edge to our dealer partners," said Hadfield. "The platform delivers pre-educated and pre-qualified consumers to dealers' lots, for efficient vehicle acquisition opportunities."
With Instant Cash Offer powered by Accu-Trade, dealers are able to:
- Create a smoother and more effective negotiation process with consumers
- Continue to build consumer trust, transparency and loyalty over time – the process has been proven in the USA to improve overall consumer satisfaction
- Get access to a new source of inventory with several options to improve the profit margin
- Transact risk-free with a dedicated disposal process for any unwanted vehicles
The most advanced solution designed to commoditize the VIN.
"We're pleased to partner with TRADER to introduce Instant Cash Offer in the Canadian market, making it easier for consumers to trade-in or sell their vehicles, and for dealers to engage with these highly-coveted customers early in their purchasing cycle," said Robert Hollenshead, founder of Accu-Trade. "The platform helps dealers to optimize and implement a seamless process that closes more trade-ins, delivers higher profits, creates great customer relationships, while eliminating risk – one VIN at a time."
The Instant Cash Offer platform will continue to evolve to include direct integration with TAdvantage, TRADER's all-new, Canadian-made dealership website solution.
For more information on Instant Cash Offer, visit: go.trader.ca/ICO
About TRADER Corporation
TRADER Corporation is the leading digital marketing partner for Canadian automotive retailers and manufacturers. With over 16 million visits a month and more than 4.1 million mobile app downloads, TRADER's automotive marketplace – autoTRADER.ca – is the #1 source for all things automotive in Canada. The company offers retailers and manufacturers access to a robust audience of new and used car shoppers, best-in-class digital advertising, website and software solutions, and rich data insights.
For more information, visit: go.trader.ca
Accu-Trade provides instant, accurate, VIN-specific valuations and appraisals in the palm of your hand. Galves market-correct data fuels Accu-Trade's powerful valuation tool used by dealers to sell more vehicles and give customers upfront offers for their trade-ins. Accu-Trade provides VIN-specific appraisals in minutes – with first-of-its-kind insights, including VIN-specific valuation adjustments, common problems identification and vehicle history report integration.
(1) Instant Cash Offer (ICO) Research / DIG Insights, TRADER, September 2018.
SOURCE TRADER Corporation
For further information: Media Inquiries: Michelle Saraceno, Senior Manager, Communications Strategy, TRADER Corporation | autoTRADER.ca, 416.784.5200 ext. 3599, firstname.lastname@example.org