The following is an excerpt about construction valuation from the article Valued Valuations, published in December 2019 issue of CED Magazine
Why would a dealership find an IronGuides subscription useful? Say the dealer has a customer who’s interested in a new piece of equipment, and there’s a used piece of equipment on the table as a possible trade-in. A quick trip to the app and the dealer can ascertain a wide variety of data on the piece, including trade-in value.
“Based on things like model, hours, configuration, the region of the country where the piece is located, we provide what the equipment could retail for – in an instant. You select the model year, options, attachments, like air conditioning, and as you enter the hours, the app adjusts the value [on the fly].
We also provide a reconditioning value. Once a dealer has inputted all the particulars on a piece of equipment, the app calculates [and displays] values for wholesale, trade rough, trade premium, resale cash, and advertised prices.
Our entire objective is giving the dealers [better] information so they can make better decisions,”
—Terry Rasmussen, director of construction with Iron Solutions.
Read the full article here.