“Make the experience feel like magic.”
Someone once shared this little-known sales mantra with me and it has stuck ever since.
You want customers to feel like you read their minds. They arrive at your dealership skeptical and unsure, but they leave in awe. You have met their every want and need, even those they didn’t say out loud. It’s like you know that customer better than they know themselves. It’s like magic.
A great car buying experience starts with two factors: inventory and price. Nothing says “magic” like having the exact vehicle– down to the equipment level– at the perfect price. Throw in excellent service and you’ll win a customer for life.
As an auto dealer, how do you create this type of experience? It takes more than hocus pocus; you need technology. Pricing and appraisal tools help dealers stock the most in-demand vehicles and sell them at the right price. This leads to faster turn, higher margins, and more profit.
There are several high quality pricing and appraisal tools available today. One popular option is the suite of tools from vAuto. vAuto’s suite includes Provision, the used car pricing and inventory tool.
Another popular option is VinCue, the pricing and appraisal tool from DealerCue. VinCue offers the same valuable insights as Provision, but at a fraction of the cost. DealerCue’s proprietary technology makes pricing and appraisal data available to everyone.
We’re going to take a side-by-side look at VinCue and vAuto’s tool, Provision. It’s not a perfect comparison (Provision does not do new car markets) but it’s still a debate worth considering. Don’t leave that magical experience to chance. It’s time to find the perfect tool to make it happen.
What is VinCue?
VinCue is a pricing and appraisal tool for new and used cars markets. VinCue helps you develop an inventory and pricing strategy based on hyper-local market data and trim-level insights. See what competitors are stocking, how they’re pricing, and how fast customers are buying.
Customers don’t care about the size of your dealership when shopping online. All they care about is variety and price. VinCue lets you see what the customer sees: your prices and inventory vs. your competitor. With this information in hand, you can optimize your buying strategy. You’ll sell more cars and create those “magic” customer moments.
VinCue is one of several tools from DealerCue. Others include BidCue (intelligent auction sourcing), and RevCue (inventory management and websites). All DealerCue tools integrate seamlessly with one another, giving you a complete picture of your performance against the competition.
What is vAuto?
vAuto is a suite of tools for pricing, appraising, inventory management, and wholesale vehicle sourcing. Provision is the tool most similar to VinCue– it is a pricing, appraisal, and inventory tool. However, Provision only tracks used car markets. For new car markets, vAuto offers a pricing and market data tool called Conquest.
Provision gives you live market data and insights into your competitor’s stock. This helps you buy and sell vehicles at prices that protect your margins. Provision helps dealers appraise used cars based on local market data and their gross margin goals. It also provides trim-level pricing comparisons, market day supply data, and a merchandising tool that manages your listings across the web.
Comparing VinCue vs. vAuto
The comparison of VinCue vs. vAuto isn’t perfect. The best comparison is between VinCue and vAuto’s used car tool, Provision. We’ll compare VinCue and Provision, and also show you how the other tools in each suite play a role.
Real-Time Market Data
You don’t make money when you sell a car; you make money when you buy it. Consumers are flooded with options in the market. Unless you buy and sell each vehicle at the perfect price, you will cut your margins or lose deals to competitors.
This is why tools like VinCue are so valuable. VinCue pulls in live market data from over 50,000 sources. Drill down to your hyper-local market and compare your competitors’ prices to your own. This depth of research helps you make better buying decisions.
vAuto Provision also provides live market data from sources like AutoTrader.com and Cars.com. Provision only provides this data for used vehicles, while vAuto’s Conquest tool does the same for new vehicles.
A core function of both VinCue and vAuto is data-driven appraisal. VinCue lets you appraise a car by make and model, or by VIN number. Refine the search by adding mileage, reconditioning costs, and equipment specs. VinCue will give you the Retail Market Price based on these factors and let you compare it to similar vehicles. Plug in your desired gross margin and get the Wholesale Appraised Value– the perfect price to pay for that trade-in.
Provision’s appraisal function performs the same way. Provision gives you retail, wholesale, and subprime appraisal prices for potential trade-ins. This feature helps take the guesswork out of appraising and protect your margins.
How do your prices compare to your competitors? VinCue Price Ranking will tell you. See how your prices stack up to other dealers in the area, broken down by make and model. VinCue then assigns an aggregate price grade for performance checks at a glance.
VinCue also shows you exact pricing of similar vehicles in your area. This gives you the power to adjust your pricing based on where you want to fall in the rankings.
Provision’s pricing tools work similarly to VinCue, minus pricing for new vehicles. Both tools help you make better pricing decisions based on your local market.
VinCue comes equipped with, RevCue, the inventory management tool from DealerCue. Dealers can track their sales, turn rates, pricing age, inventory age and more– for both new and used vehicles. Then compare your inventory to competitors and identify valuable pricing opportunities. RevCue completes the full picture of your dealership’s performance compared to the market.
Provision has inventory management built in, but it only works with used vehicles. Franchises will have to purchase both Conquest and Provision to see their entire inventory. Provision gives you similar metrics as VinCue, including market day supply, turn rate, and pricing age.
Better sales starts with better sourcing. With BidCue auction sourcing built into VinCue, find in-demand vehicles around the country and predict your profit on that car. First, find and bid on vehicles based on local market demand. Then appraise them with VinCue before bidding. BidCue also grades a vehicle’s potential value based on price, demand, turn rate, and market supply.
vAuto’s bidding software is called Stockwave. Stockwave performs many of the same functions as BidCue, like connecting you to auctions around the country. Stockwave integrates with Provision, but at an additional monthly cost.
vAuto has been around for many years, allowing them to charge a premium for their services. DealerCue has figured out how to provide the same insights for a fraction of the cost.
VinCue starts at a price that any dealership can afford, and pricing options are flexible. For example, RevCue is an affordable upgrade and built natively into VinCue for seamless use.
Provision is significantly more expensive than VinCue and comes with a one-time setup fee. If you sell new cars or want vehicle sourcing, you will have to pay separately for Conquest or Stockwave.
With vAuto, expect a final monthly cost that is 3-4 times more expensive than DealerCue.
VinCue has all the insights at a fraction of the cost
Thanks to their proprietary tech, DealerCue delivers the same high-quality insights as vAuto, for a fraction of the cost. Not only is VinCue less expensive than Provision, it also does the work of Conquest and Provision combined. And with no setup fee, you can try VinCue with minimal upfront investment.
Delivering a magical customer experience isn’t really magic; it’s technology. VinCue will help you stock your lot with the most in-demand vehicles, ensuring you always have what your customers want. With real market pricing and appraisal data, you know you’re buying and selling your vehicles at the right price.
Check out DealerCue’s entire suite of tools to get the most comprehensive view of your market and competition.
Latest posts by Ben Putano (see all)
- BidCue vs. Stockwave: Which is the Best Online Vehicle Sourcing Tool? - October 10, 2018
- DealerCue vs. CDK Global: Comparing Dealership Tools - October 4, 2018
- Which Used Car Appraisal Tool is Right for You? - October 1, 2018