Using the Vehicle Bookout tool to make decisions on inventory vehicle pricing will help you justify your asking price with customers while ensuring buyers can secure financing for the vehicle and any add-ons. To use Vehicle Bookout for inventory vehicles, follow these steps:
|Note: You must have a subscription to use Vehicle Bookout.|
Step 1. From the Vehicle Search screen, search for and select the inventory vehicle on which you'd like to perform a bookout. The vehicle quick look card will open.
Step 2. Click View Vehicle to open the vehicle record to the Overview page.
Step 3. Click on the Appraisal/Bookout button below the vehicle summary card to open the Appraisal/Bookout page.
Step 4. Click the Vehicle Bookout button in the upper-right corner of the Appraisal/Bookout page. The Vehicle Bookout modal will open.
At the top of the modal, you'll find a card containing all the basic vehicle information: VIN, Year, Make, Model, and Exterior Color. The card's ZIP Code field lists the zip of your dealership.
The vehicle's mileage as recorded in the vehicle record will display in the Odometer field. A yellow alert icon appears above the field. Hovering over the icon with your mouse reveals a warning to confirm the odometer reading. If the mileage entered in the field isn't current, change it to reflect the vehicle's current odometer reading. The mileage you enter here will update the vehicle record's Odometer field.
|Note: The Odometer field will only be populated with the vehicle's mileage when performing a bookout for an inventory vehicle. The field will be empty when booking out a customer vehicle or appraisal vehicle.|
The Book Providers field in the top card will list the book provider/s you've set up as default/s in the Vehicle section of the Setup application. You can tailor this list further by clicking the field's options caret and selecting additional book providers (to which you've subscribed through Autosoft) or un-checking providers you don't wish to use for the bookout.
Click Update. Based on the information entered in the top card of the pop-up, the individual book provider cards will populate with values.
Note: If a book provider does not return values, you may need to enter additional information, such as a trim level (using the Trim option menu in the provider card).
Step 6. To hone in on the most accurate values, use the Optional Equipment or Add/Deducts area of a book provider card to add or remove equipment. Click to check or uncheck equipment the vehicle has or does not have, respectively. The values will update accordingly.
Step 7. Review the numbers. To view a detailed version of book provider's values for the vehicle, click the Details button in the provider card. A pop-up will open with the vehicle values. At the top of the pop-up, you'll find the vehicle and trim, mileage, and the date the information was pulled. These pop-ups provide base values and total adjusted values based on positive and negative adjustments calculated using the optional equipment or "Adds/Deducts" you selected in the book provider card, as well as mileage and geographic region adjustments (Some adjustments may be grouped; hovering over an information icon will provide details of the adjustment.) Manheim Market Report also may include value adjustments based on exterior color and condition grade. The values are listed by vehicle condition. Each provider pop-up will display the different values it provides (Lending/Loan, Trade-In, Retail, Wholesale) in coordinating tabs. To view the data, click the tab.
|Note: The Lending/Loan and Retail tabs only return a single set of values instead of conditional values.|
Step 8. When you're done reviewing the provider's detailed information, click Close. You'll be returned to the Vehicle Bookout modal.
Step 9. To print a bookout sheet, click the Printer icon in the upper-right corner of the provider card. A pop-up will open, where you can select one or more Bookout Values and the Condition you wish to print. You can click to select to print one or multiple bookout values in the Bookout Values options menu. Select the most appropriate vehicle condition from the Condition menu.
Step 10. Click Print. The bookout sheet will open in a new browser tab where you can print it. The bookout date, vehicle mileage at the time of the bookout, and publication date of the bookout will be included.
Step 11. Click Save and Close to close the Vehicle Bookout modal. The bookout record will be added to the Appraisal/Bookout History list in the vehicle record. The bookout will be listed by date performed and odometer reading at the time of the bookout.