PALO ALTO, Calif., Dec. 12, 2022 /PRNewswire/ — A reconditioning ‘Seal of Approval’ is likely to help auto dealers close more sales, according to a survey of 1,000 potential auto shoppers by Rapid Recon.
When consumers were asked if a reconditioning “seal of approval” would positively affect their used vehicle purchase decision, respondents’ average score was 4.4 of 5, with 5 being extremely likely.
The reconditioning phase of a used car’s life before it’s ready for sale is typically invisible to buyers. Yet reconditioning restores safety, performance, and value in a used car, which is essential information for dealers to communicate and consumers to know about as they consider a used car purchase.
Consumers also indicated that transparency is a critical element of the sales process. When asked about the importance of transparency, respondents rated it at 92%, with 100% being “extremely important.”
“The data speaks for itself. Customers value trust and transparency, especially when making a big purchase. Dealers who offer reconditioning reports give their customers peace of mind and build loyal relationships for future sales,” said Dennis McGinn, CEO of Rapid Recon. “Dealers need to encourage transparency during the sale process. A simple report detailing a used car’s recon report can be the extra detail that earns you a lifetime customer.”
These findings are published in the report “Auto Buyer Transparency Expectations: How to Leverage Technologies to Build Trust.“ The survey analyzed 1,000 potential car shoppers who plan to purchase a vehicle within the next three years from a franchised or independent automotive retailer. The survey was conducted online from Sept. 20 to Sept. 24.
Consumer rankings included:
- A composite average score of 4.5 of 5 when asked if they were more likely to purchase a vehicle if shown a reconditioning report.
- A composite average score of 4.5 of 5 said a reconditioning report provided by the dealership would increase trust in the dealer.
- A composite average score of 4.4 of 5 said a reconditioning “seal of approval” presented to them would positively affect their vehicle purchase decision.
- A composite average score of 4.3 of 5 said being shown a reconditioning report would affect their preference for a dealership.
Automotive retailers who embrace this concept can provide customers with peace of mind, show genuine long-term concern for customers, and increase the perceived value of the vehicles they sell.
Sales teams equipped to present this reconditioning report to buyers helps them eliminate buyer concern and questions about vehicle condition.
“The automotive retail industry can do much more to prepare and equip sales associates to succeed,” McGinn said. “The ability to communicate what reconditioning improvements have been done to the used car being considered builds value and trust in that vehicle, whether the recon report is shown face-to-face or pushed via text for reviewing at home or elsewhere. We know what consumers need to be more confident in their car-buying experience.”
To view the complete Auto Buyer Transparency Expectations Report on reconditioning, visit https://my.rapidrecon.com/auto-buyer-transparency. To review the safety recall portion of the study, visit https://bit.ly/Consumer-Transparency-Expectations-Recalls.
About Rapid Recon
Rapid Recon reconditioning and communications workflow software help auto dealers achieve and maintain long-term success. Through dealers’ application of the Rapid Recon Key Performance Indicator time to line (T2L®), Rapid Recon people, processes, and software steer continuous improvement efficiencies and performance gains throughout the auto dealership. www.rapidrecon.com.
SOURCE Rapid Recon
