HaloCar is committed to making the process of finding the right vehicle at the right price as easy as possible.
But what does that mean in practice? Where does the “right price” come from? In short, why is the HaloCar price the “right price?”
It all starts with transparency. We want our customers to know how the process actually works, so they can be confident that they’re really receiving what’s promised.
How Do I Get This Pricing?
a. Go to an enrolled dealer’s website.
b. Pick a vehicle.
c. Chat or call a salesperson and request pricing.
d. Tell them you are a HaloCar customer.
e. The salesperson will give you the HaloCar price on your selected vehicle!
New vehicle pricing:
What factors drive the dealer’s lowest price? The quantity of a certain vehicle on the lot and in the pipeline, both at the HaloCar dealership you are considering and at other dealerships in the general area, is the driving factor on HaloCar pricing. It makes sense – if a certain vehicle is in high demand and the quantity is running low, the HaloCar price will be a higher. On the other hand, if there is low demand and lots of that certain vehicle available, the HaloCar price will come down. But what you might not know is that dealers can actually see each other’s inventory and number of sales each day. A Ford dealer can look at all the other Ford dealers’ inventories and daily sales. So, they clearly see supply and demand when they set HaloCar prices. The HaloCar price is the lowest acceptable price that the dealer will accept at that time.
Another concept that drives pricing is competition. If there is only one Ford dealer around then buyers have no other Ford dealers to consider and the dealer can set higher prices. But if you are in an area with lots of Ford dealers the buyers can shop for the best price and dealers will take a thinner profit. They take a thinner profit because they desperately want to sell all their new inventory. The local Ford dealers are all competing against each other for sales leadership. Thus, the more Ford dealers in a local area creates competition and drives prices down. We are fortunate as there are 16 Ford dealers from Everett to Olympia. The same concept holds true for any new car manufacturer.
Used vehicle pricing:
There is no MSRP on used vehicles to provide a value. Dealers use several items to value used vehicles such as NADA, Kelly Blue Book or Black Book, used car auctions that only dealers can participate in, and vehicles for sale on the internet such as Auto Trader. These options guide a dealer as they attempt to place a value on a used vehicle. Once a dealer buys or trades for a vehicle, they have additional costs. Cost may include transporting the vehicle from auction, cleaning, bodywork, repairs, emission testing…. etc. The dealer’s goal is to keep the total cost as low as possible. Lower costs when sold translates to a higher profit for the dealer.
Another factor dealers are concerned with is time. Kelly Blue Book and other sources update monthly. Each update lowers the value of used vehicles on their lot. Lenders use Kelly Blue Book as a guide to how much they will loan on that vehicle. So, dealers want to sell a used vehicle as quickly as possible before the value deteriorates.
Our dealers are transparent about their used car cost and the HaloCar price is their lowest acceptable price at that time. The dealer’s goal is to sell that used car quickly.