(Actual Cash Value) The final value set for the vehicle. This is the amount the store has decided they are willing offer the customer for the Trade-In vehicle.
A portion of the store’s inventory that is older than a specified number of days as specified by the Group (not the store). What is considered to be Aged Inventory can be set by the group. Most groups consider inventory 60 days or older to be Aged Inventory.
An appraisal is a vehicle record for a trade-in which includes the following
- Vehicle information such as year, make and model.
- Condition report with damage areas and estimated repair costs.
- Messages between parties to determine the ACV for the vehicle.
- Customer Declarations for the vehicle such as previous repair work and history
Appraisal Grid is a platform that provides dealers with an efficient and transparent tool to generate, share and monitor appraisal transactions.
The Appraisal Status indicates which point in the appraisal process the appraisal record currently resides. The Appraisal Statuses are:
Traded-In, Purchased and Deal Lost indicate the final outcome of the appraisal.
A dedicated space to share valuation requests for the purposes of establishing valuation opinions. Channels are defined by the group or the store. For example, a store may want a channel dedicated to walk in business and another for wholesale inventory. store may also want to separate the channels by the type of manufacturer – Imports, Domestic Retail and Wholesale.
A user included in a channel that is from outside the store that own the channel. Channel Guests can only join through an invitation process initiated by Appraisal Managers and General Managers. Users with Sales roles do not have permissions to add guests.
A user included in a channel that works for the store that owns the Channel. This includes Managers and Sales Staff.
A designated person at the store or group level that has the ability to invite participants. An Appraisal Manager would typically be the channel owner.
A participant in a channel is anyone who is included in the Channel. A Channel Participant can be a Channel Guest, or a Channel Member.
Set up and controlled at the group level.
The body of available vehicles in the inventory section of the Appraisal Grid app.
A notification sent by a Sales Person to a Manager asking if there is any more room in the valuation. i.e. Can the ACV be bumped up to help solidify a deal?
The value put forward through Appraisal Grid on a specific vehicle by channel participants to purchase the vehicle.
(Product Information System) This area of the cDemo platform enables dealers to create, update, monitor and manage product inventory. The majority of usage is in automobiles, but the capability for Non-Passenger vehicles such as motorcycles, ATVs and snowmobiles has been built. The system was designed to allow other product types to be added as needed.
Set up and controlled at the Store Level
An opinion provided by a channel participant in response to a valuation request.
A request or notification sent out by an authorized participant to another channel participant requesting a valuation opinion.