CARY, N.C. – So here’s a statistic you might find alarming.
Seventy percent of cars displayed for sale online have missing or improperly described factory option information, says Ned Nielsen, chief executive officer of MonroneyLabels.com. This finding is based on the company’s own internal research when it was building MonroneyLabels.com, Nielsen told Auto Remarketing.
This can lead to dealers leaving money on the table, he says. Nielsen gives the example of a friend who had purchased a Lincoln Navigator from a non-Ford Motor Co. dealership that didn’t include the entertainment package in the online listing.
The dealership may have to eat money to make an issue right once the customer gets to the lot because it was listed improperly online.
Or worse, yet the dealership could be sued.
Describing a car correctly starts by getting it right from the get-go, when the vehicle comes in for an appraisal, he said. And MonroneyLabels.com — which, according to a news release, is “the fastest way to accurately reproduce vehicle window stickers” — is actually working with a few large data providers to help dealers in this regard.
“Usually they can get year, make and model, but they miss the colors and they miss the options on it,” Nielsen said. “And that’s the big thing. And they’re leaving things out, but when they appraise the car, it’s really important to get it correct when the car comes in the dealership. And that way, they don’t miss it.”
NADA UCG finalizes integration with MonroneyLabels.com
One of the companies that MonroneyLabels has worked with is NADA Used Car Guide, with which it recently signed a deal.
This gives dealers a fast and accurate way to reproduce vehicle window stickers containing the NADA Values Online product, the companies said in a news release.
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