Standard VIN Decoder: Are you getting the details you need?
Article Highlights:
- Get accurate vehicle information for a better trade-in process.
- Prepare more detailed vehicle marketing.
According to Automotive News, the 2020 used vehicle market is hot and competition is on the rise. This makes every vehicle on your lot even more important.
Vehicles today are becoming more and more similar and offering many of the same high tech features. So how are you differentiating your dealership and your inventory from your competitors? The key is to ensure you’re marketing all the details of your new and used vehicles to set yourself apart. This includes interior and exterior colors, engine and transmission details, package content, and any optional equipment. Does your standard VIN decoder provide these needed details right from the VIN?
Here are three reasons your dealership needs to update its standard VIN decoder to a solution that pulls all OEM configuration details for new and used vehicles.
1. Accurate information about your vehicle inventory.
By having detailed vehicle information available, your dealership can better manage what vehicles you have on your lot. You can identify not just what vehicles are selling, but what features are selling. You can ensure your inventory is meeting customer and market needs so you can increase sales and more efficiently turn inventory.
2. Efficient and accurate trade-in process.
When you have every detail for every vehicle at your fingertips, you can more efficiently and accurately process and price trade-ins. Imagine taking the VIN from a trade-in and instantly knowing its exact configuration. You would easily be able to decide if it is a vehicle your inventory needs, spend less time preparing it for sale, and more accurately price it to obtain the most profit possible.
3. Better vehicle marketing.
With access to all details for new and used vehicles on your lot, your dealership can better market your entire inventory. Whether it’s merchandising on your website or emails to customers, the vehicle information will be detailed and accurate. Imagine displaying all the features and benefits of a vehicle to highlight the characteristics that differentiate your inventory from your competition’s. You’ll win over customers by marketing to them the differences in vehicles only you can offer.
Rethink Vehicle Details
VIN decoding may seem like a minor task for your dealership, but it can have a great impact on your business. By using a tool that pulls the complete OEM configuration of the vehicles on your lot, your dealership can distinguish itself from the competition, operate more efficiently, and better manage inventory and pricing – important aspects to overcome decreasing vehicle sales and remain successful.
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Product Planning Manager, Vehicle Inventory applications
Andrew is Product Planning Manager at Reynolds and Reynolds for Vehicle Inventory based applications. Andrew, a graduate of Northwood University, has been with Reynolds for over 20 years and has held various positions in the Service, Support, Education, and Product Management departments.
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