How Does Modal Determine a Trade-In Value?

Table of Contents

1. Overview
2. Customizations Available
3. Can Modal Use Another Data Source Besides KBB?
4. How Can I Tell If A Customer Entered Their Own Value?
5. Changelog

Overview

Modal sources data from Kelley Blue Book to determine the estimated value of a customer's trade-in vehicle in Checkout, Shop, and Trade.  Once the customer has entered the required fields for their trade-in, a KBB evaluation is presented to the user where they can accept or decline the offer. In Checkout, the estimated value will be applied to the vehicle of interest's checkout price.

Customizations Available

Modal has the ability to adjust the final values presented to the customer after they have entered their vehicle's information. The following customizations can be made:

• Use the 'LOW', 'MIDDLE' or 'HIGH' value.
• Adjust the value by a percentage, either positive or negative.
• Adjust the value by a dollar amount, either positive or negative.

Please note that the value displayed to the user will always fall within the Trade-In Range produced by KBB. For example, if your dealership uses the 'MIDDLE' value minus $2,000 and the Trade-In Range from KBB is $13,000 - $15,000, the customer will be shown $13,000 not $12,000 ($14,000 - $2,000) as this value is outside of the Trade-In Range. 

To update your Trade-In value settings, please contact your Modal Customer Success Manager or open a support ticket with Modal's Integration & Support team.

Can Modal Use Another Data Source Besides KBB?

Currently Modal only supports trade data from KBB. Please talk to your Modal Customer Success Manager to discuss potential future integrations

How Can I Tell If A Customer Entered Their Own Value?

Customers have the option of entering a 'Dealer's offer' in Checkout, which supersedes the KBB value. This can be distinguished in the ADF XML whether or not the customer received an evaluation from KBB or entered their own value.

KBB Evaluation will have the following in the ADF XML:

A customer entered value will have the following in the ADF XML:

Changelog

• 1.0 / September 8, 2020: Initial release.
• 1.1 / February 17, 2021: Adding additional source section
• 1.2 / April 13, 2021: Adding customer entered trade value section.