The old saying goes “Rules were made to be broken.” But eVA Valuations & Appraisals’ Rules Builder can give dealerships a competitive edge.
Part of Cox Automotive’s eVA Pro, Rules Builder lets you easily set criteria to make valuations more flexible. Busy dealerships oversee custom adjustments via the interface to get more (or less) of the stock they want. And it’s even better now.
Perfect for franchised dealers
eVA is a vehicle valuation system that uses data sources, including CAP and Auto Trader, to determine a vehicle’s trade price. Its unflinching accuracy makes it a timesaving, flexible and essential tool for busy dealerships.
And because every dealer, big or small, has a stocking policy, they can amend valuations using the system to attract vehicles of particular values, age ranges, makes, models and mileages.
Franchised dealers, typically with more extensive inventories, are presumably on the lookout for vehicles from customers that are of the same make they specialise in selling. So, they are more likely to offer customers a more generous part-ex valuation if the vehicle is suitable, e.g., make, age and condition. This is where Rules Builder comes in; if you are a Ford franchisee, you could create a rule saying, “If the vehicle is a Ford, is under three years old with a mileage under 60,000 miles, then increase the valuation by 10%”.
Nothing could be simpler. The rule is created behind the scenes with a few simple clicks.
Flexible and indispensable
The builder is incredibly flexible and indispensable for larger, multi-site dealerships, especially those with a rigorous stocking policy. Rules can be switched on or off to coincide with marketing promotions, or they can be amended to ensure less desirable vehicles that will end up going straight to auction with all its attendant costs.
Peter McCullough, Senior Product Manager at eVA, said: “We rebuilt the Rules Builder based on user feedback. We wanted to make it more user-friendly, easier to understand and more effective.
“A ‘rule’ has three elements, firstly what are the criteria? So, if you’re valuing a car, what criteria decide whether a rule applies to the vehicle?
“Secondly, there’s the ‘actions’. So, if it meets the criteria of the set rule, what do you want to do to that valuation—what action should be taken? Thirdly, there are the ‘controls’. How do you want to control the rule? Is it always on, always off, or active during a specific date range?”
An essential tool
Peter explains that the rules are set system-wide, and the interface’s newest iteration means that when one is created, an easy-to-understand sentence summarising it appears on the screen.
He added:
“One of the biggest benefits of the Rules Builder is that dealers can influence valuations in a controlled way across the dealership’s entire IT system. It removes much of the sort of day-to-day debates about individual vehicles. It is powerfully effective in saving time when administering part-ex vehicles.”
Get an edge in your valuations while ensuring your stocking policy is being followed to the letter.
