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Seller Advance, the instant valuation and cash flow solution offered by Manheim, has broken the 300,000 vehicle mark just three years after launch in the UK.
More than 435 franchised and independent dealers have signed up to Manheim’s award-winning Seller Advance system The platform, which is updated weekly to reflect the ever changing economic trading conditions, provides almost instant valuations of part exchange vehicles to a salesperson’s computer using real-time market data based on actual vehicle condition reports. In excess of 300,000 vehicles have been valued through the tool in the past three years, with one in five of those receiving upfront cash advances before being offered at auction.
Daren Wiseman, general manager for Valuation Services at Manheim, comments: “With 96 per cent of valuations returned within 10 seconds and an overall accuracy within 2.5 per cent during 2012, dealers using Seller Advance have seen a significant increase in their part exchange conversion rates because of the speed and reliability of the valuations. The system allows dealers to take a consistent approach to vehicle appraisals across their business. With a hands on, seven-day-a-week support team available, dealers can provide their customers with immediate and realistic valuations, secure in the knowledge that we are always on hand to provide additional advice. ”
Manheim customer Ray Gillman, group sales director at Greenoaks Mercedes-Benz & smart, adds: “The adoption of the Seller Advance system within our three dealerships has resulted in a number of significant benefits. First and foremost, the virtually instant access to an accurate, up-to-the-minute guide price for almost any vehicle, in any condition, allows us to confidently offer the best possible part exchange price to any potential customer.”
“A further benefit has been the ability to monitor the quality of part exchange appraisals and the training needs of the sales team. Last, but by no means least, is the beneficial effect on working capital. It is fantastic to be able to get cash flow moving a lot earlier in the process. I would recommend Manheim Seller Advance to any business that is serious about optimising both its ability to do business and profitability.”