GM dealerships just got more trade tools put at their disposal by Edmunds receiving certification from The General for its Edmunds Trade-In Tool and Edmunds Instant Cash Offer tools.
These tools are now certified as “In-Market Retail (IMR) Turnkey Products” by GM and, according to Edmunds, help to create “a convenient, time-saving reimbursement process for GM dealers.”
The Edmunds Trade-In Tool gives automotive buyers a method of quickly and readily finding out the trade-in price of their current vehicle. Predictive search helps consumers fill out the forms in the app, which can be used either on mobile devices such as smartphones or on a computer desktop. The tool is claimed to typically provide an accurate appraisal of a vehicle’s trade-in value in under a minute.
Meanwhile, Edmunds Instant Cash Offer helps dealerships generate an instant cash offer to send to customers to beef up their used vehicle inventory. The tool can send offers in less than two minutes in multiple venues, including at the dealership itself, at the dealer’s website, and even to people waiting for service of their vehicle.
Edmunds dealer vice president Katti Ehoff Fields says that certification will “connect more GM dealers to the millions of motivated in-market shoppers that visit our website every month.” She added that the company’s products “showcase how Edmunds’ trade tools can help turn those connections into vehicle acquisition leads.”
Edmunds VP of sales Scott Fanelli also weighed in, remarking on how, with “IMR Turnkey enabling access to Edmunds’ trade tools, we’re thrilled to give GM dealers more opportunities to acquire vehicles, optimize their digital marketing dollars, and deliver a seamless experience on their website.” Fanelli added that “working with GM as an approved IMR Turnkey vendor is an exciting milestone.”
An independent study of Edmunds’ tool and similar tools indicated that vendors usually get form completion rates of 5 percent to 20 percent from shoppers. The second best tool had a 35-percent completion rate, while the Edmunds Trade-In Tool led to 40 percent to 45 percent of customers completing the trade-in form.
Comments
I don’t know that this will really get more dealers on board with edmunds.com seeing as Carmax owns edmunds.com
What….? Just seems like another GM/KISS scam that generates incremental revenue/margin to the dealer at customer’s expense by ‘inserting another unknown’ in the buying cycle. And, don’t think that Edmonds won’t have their hand out as money changes hands!!!
Wake up people!
The only way to get the best deal is to work a bunch of dealers against each other.
Most of the time you have to find a dealer hours away to get a best deal, sometimes you will then get a local dealer to buckle.
My favorite line is do not worry you will still get my warranty work.