What most differentiates Sell & Trade Mid from Sell & Trade Base?

S&T Mid includes the Quick Offer feature

With S&T Mid, the dealers get access to consumer/seller contact information before they place a bid

S&T Mid includes the Quick Offer feature

S&T Mid appears on the DPP and VDP, but S&T Base only appears on the Dealer Directory

S&T Mid is only available to Franchise dealers, not Independent dealers

If a consumer has only received 2 or 3 bids at the time the initial bid window expires, what happens next?

The bid window extends and dealers have an additional 72 hours to place a bid

An extended bid window opens to backstop partners

The bid window closes and the consumer must choose between the offers they have

The bid window extends and dealers have an additional 72 hours to place a bid

Cars.com places a bid on the behalf of the remaining dealers

If a consumer has received 0 or 1 bid at the time the initial bid window expires, what happens next?

An extended bid window opens to delaers & backstop partners for 72 hours

The bid window closes and the consumer does not get to sell their vehicle

The bid window extends to dealers only and they have an additional 72 hours to place a bid

Cars.com purchases the car from the consumer

At what point are dealers able to see a consumer's information within the Quick Offer tool?

When the consumer posts their vehicle

After they sign a legally binding contract to purchase the consumers' vehicle

How do dealers sign in to the Quick Offer tool to manage their bids?

Log in to their Google account- it's all integrated!

When a consumer submits a Quick Offer, how many dealer is it sent to with the opportunity for them to bid?

All of the dealers within the lead distribution radius

All of the dealers with sell & trade mid in the market

All of the dealers within the lead distribution radius

Which of the following is NOT a best practice for dealers using Quick Offer?

Bid on no more than 60% of all leads

Engage sellers after receiving their information

Bid early, often, and competitively

Respect the seller's desire to separate their vehicle sale from a new car purchase

At what point does the AM take over for the Implementation Specialist in partnering with the sales rep to support dealer retention with Sell & Trade Mid? (select all that apply)

Once bid rate is maintained above 60%

Between 4 and 6 weeks of having the product

When the sales rep feels comfortable transitioning the dealer

Once bid rate is maintained above 60%

Once the dealer is successfully acquiring 80% of the vehicles they bid on

Between 4 and 6 weeks of having the product

Sell & Trade Review

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| Written by Mnowak6

Mnowak6

Community Contributor

Quizzes Created: 1 | Total Attempts: 56

Questions: 13 | Attempts: 56 | Updated: May 23, 2023

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Questions and Answers

1.

What is the maximum number of dealers that can place a bid on a consumer's vehicle?
- A.
  
  7
- B.
  
  2
- C.
  
  5
- D.
  
  4
Correct Answer
D. 4

Explanation
The maximum number of dealers that can place a bid on a consumer's vehicle is 4. This means that out of the given options, 4 is the highest number of dealers that can participate in the bidding process.

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2.

How long is the initial bid window?
- A.
  
  9 consecutive hours
- B.
  
  12 consecutive hours
- C.
  
  9 business hours
- D.
  
  12 business hours
Correct Answer
C. 9 business hours

Explanation
The initial bid window is 9 business hours long. This means that the bidding process will be open for a total of 9 hours during regular business hours. It is important to note that the bid window does not include weekends or non-business hours, only the hours in which the business is operational.

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3.

What most differentiates Sell & Trade Mid from Sell & Trade Base?
- A.
  
  With S&T Mid, the dealers get access to consumer/seller contact information before they place a bid
- B.
  
  S&T Mid includes the Quick Offer feature
- C.
  
  S&T Mid appears on the DPP and VDP, but S&T Base only appears on the Dealer Directory
- D.
  
  S&T Mid is only available to Franchise dealers, not Independent dealers
Correct Answer
B. S&T Mid includes the Quick Offer feature

Explanation
S&T Mid includes the Quick Offer feature, which is the main difference between Sell & Trade Mid and Sell & Trade Base. The other options mentioned in the question do not differentiate between the two options.

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4.

Which of the following is NOT one of our national whole-sale partners for Sell&Trade?
- A.
  
  CarMax
- B.
  
  Carology
- C.
  
  Car Buyer USA
- D.
  
  Copart
Correct Answer
A. CarMax

Explanation
CarMax is not one of our national whole-sale partners for Sell&Trade.

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5.

If a consumer has only received 2 or 3 bids at the time the initial bid window expires, what happens next?
- A.
  
  An extended bid window opens to backstop partners
- B.
  
  The bid window closes and the consumer must choose between the offers they have
- C.
  
  The bid window extends and dealers have an additional 72 hours to place a bid
- D.
  
  Cars.com places a bid on the behalf of the remaining dealers
Correct Answer
C. The bid window extends and dealers have an additional 72 hours to place a bid

Explanation
If a consumer has only received 2 or 3 bids at the time the initial bid window expires, the bid window extends and dealers have an additional 72 hours to place a bid. This allows more dealers to participate and submit their bids, giving the consumer more options to choose from. Extending the bid window helps ensure that the consumer receives a sufficient number of bids to make an informed decision.

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6.

If a consumer has received 0 or 1 bid at the time the initial bid window expires, what happens next?
- A.
  
  An extended bid window opens to delaers & backstop partners for 72 hours
- B.
  
  The bid window closes and the consumer does not get to sell their vehicle
- C.
  
  The bid window extends to dealers only and they have an additional 72 hours to place a bid
- D.
  
  Cars.com purchases the car from the consumer
Correct Answer
A. An extended bid window opens to delaers & backstop partners for 72 hours

Explanation
If a consumer has received 0 or 1 bid at the time the initial bid window expires, an extended bid window opens to dealers and backstop partners for 72 hours. This allows the consumer to have more opportunities to receive bids and potentially sell their vehicle.

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7.

At what point are dealers able to see a consumer's information within the Quick Offer tool?
- A.
  
  After they place a bid
- B.
  
  When the consumer posts their vehicle
- C.
  
  After they sign a legally binding contract to purchase the consumers' vehicle
- D.
  
  When the bid window closes
Correct Answer
A. After they place a bid

Explanation
Dealers are able to see a consumer's information within the Quick Offer tool after they place a bid. This means that once a dealer submits their bid, they gain access to the consumer's information, allowing them to view the details and make an informed decision about the purchase. This ensures that the dealer has a genuine interest in buying the consumer's vehicle before accessing their information.

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8.

How do dealers sign in to the Quick Offer tool to manage their bids?
- A.
  
  Visit quickoffer.cars.com
- B.
  
  Log in to MDC
- C.
  
  Log in to their Google account- it's all integrated!
- D.
  
  Call their AM
Correct Answer
B. Log in to MDC

Explanation
Dealers sign in to the Quick Offer tool by logging in to MDC. This implies that the Quick Offer tool is accessible through the MDC platform, which is likely a centralized system for managing dealer operations and activities. By logging in to MDC, dealers can access the Quick Offer tool and effectively manage their bids.

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9.

Which of the following is not a notification type dealers receive during the Quick Offer process?
- A.
  
  XML Email
- B.
  
  HTML Email
- C.
  
  SMS Text Message
- D.
  
  CAO Chat
Correct Answer
D. CAO Chat

Explanation
Dealers do not receive CAO Chat as a notification type during the Quick Offer process. The options XML Email, HTML Email, and SMS Text Message are all commonly used methods of sending notifications to dealers. However, CAO Chat is not typically used as a notification method in this process.

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10.

The lead distribution radius is 25 miles for all markets.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
The statement "The lead distribution radius is 25 miles for all markets" is false. This means that the lead distribution radius is not the same for all markets. It could vary depending on the specific market.

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11.

When a consumer submits a Quick Offer, how many dealer is it sent to with the opportunity for them to bid?
- A.
  
  25 nearest dealers
- B.
  
  4 dealers
- C.
  
  All of the dealers with sell & trade mid in the market
- D.
  
  All of the dealers within the lead distribution radius
Correct Answer
D. All of the dealers within the lead distribution radius

Explanation
When a consumer submits a Quick Offer, it is sent to all of the dealers within the lead distribution radius. This means that all dealers within a certain distance from the consumer's location will have the opportunity to bid on the offer. This ensures that the consumer gets a wide range of options and allows for a competitive bidding process among the dealers.

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12.

Which of the following is NOT a best practice for dealers using Quick Offer?
- A.
  
  Bid on no more than 60% of all leads
- B.
  
  Engage sellers after receiving their information
- C.
  
  Bid early, often, and competitively
- D.
  
  Respect the seller's desire to separate their vehicle sale from a new car purchase
Correct Answer
A. Bid on no more than 60% of all leads
13.

At what point does the AM take over for the Implementation Specialist in partnering with the sales rep to support dealer retention with Sell & Trade Mid? (select all that apply)
- A.
  
  When the sales rep feels comfortable transitioning the dealer
- B.
  
  Once bid rate is maintained above 60%
- C.
  
  Once the dealer is successfully acquiring 80% of the vehicles they bid on
- D.
  
  Between 4 and 6 weeks of having the product
Correct Answer(s)
B. Once bid rate is maintained above 60%
D. Between 4 and 6 weeks of having the product

Explanation
The AM takes over for the Implementation Specialist in partnering with the sales rep to support dealer retention with Sell & Trade Mid once the bid rate is maintained above 60% and between 4 and 6 weeks of having the product. This indicates that the AM's involvement is dependent on the dealer's success in acquiring vehicles and the duration of their product usage.

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Sell & Trade Review

What is the maximum number of dealers that can place a bid on a consumer's vehicle?

How long is the initial bid window?