Appraising Trades: Science Meets Accounting
Brent Sayles, the always-smiling general manager of Crown Nissan, has been in the automotive industry since 2005 and he’s seen plenty of trades in his time.
Of course, he’s also worked with plenty of customers who wonder why he or she got a certain amount of money for his or her trade.
So we asked Brent what goes into appraising a trade.
“A lot is considered when appraising a trade,” Sayles explained. “The overall condition of the vehicle, kilometres, service history and claim history. There are so many tools available to an Auto Appraiser these days.”
In the “old days” an appraiser looked at the trade and said, “We’ll give you this much for your trade.” Today, the appearance of a vehicle still plays into the formula, but for this part, this is about science and accounting.
“First we have the sales advisor fill out a questionnaire with the customer regarding their trade,” Sayles said. “All the information is put into a software program that measures the data against similar trades across the country. This gives us a national average for that particular condition of car, with the same features and kilometres. We then drill it down regionally to get a local trade value on the vehicle.
“We look at some other information sources as well including Auction values, Canadian Black Book values, and last but not least we may call some local dealers to confirm our numbers and perhaps even pre-sell your car, allowing us to give you more money.”
Greg Hafichuk is a product advisor at Crown Nissan. He sincerely believes that Crown Nissan’s professional appraisers do the best job in the business when they look at your trade.
“Crown Nissan employs professional appraisers who will do a detailed analysis and inspection of your vehicle,” Hafichuk explained. “We take into account special treatments such as undercoating and paint sealant that protect your investment and the overall condition of the car to asses your vehicle.
“We then compare selling prices of similar vehicles in the Manitoba market over the last 90 days to determine fair market value for your vehicle. Good, local pre-owned vehicles are always in demand and we will pay top dollar to ensure we have the best vehicle on our lot for our customers.”
So it’s a two-way street. Crown Nissan wants great pre-owned vehicles on the lot and you want a fair value for your trade. Because Crown Nissan appraisers do such a remarkable job, it would appear everyone is happy.
But hey, why not see for yourself? Come down and visit Brent, Greg and the friendly staff at Crown Nissan, 700-1717 Waverley Street. And don’t forget to bring your trade.
The Dilawri Automotive Group
Founded in 1984 by Ashok Dilawri, the Dilawri Automotive Group has more than 400 employees and includes seven Winnipeg-based car dealerships. It also provides customers with the Waverly Auto Mall (WAM) Collision Center, a 24-bay glass, paint and auto body center; D-MAX, a 14-bay detailing center; and GAS Performance, a specialty aftermarket and performance accessory showroom with the largest inventory of custom wheels and tires in Winnipeg. The Dilawri Automotive Group has been named one of Canada’s 50 Best Managed Companies.