ATLANTA -

AutoTrader.com announced Wednesday that the company recently celebrated eclipsing a major milestone within its Trade-In Marketplace program.

There have now been more than 3 million instant trade-in offers generated through this tool since the beginning of 2010.

Trade-In Marketplace is designed to help both dealers and consumers by providing the shopper with a guaranteed offer on trade-in and at the same time giving dealers a way to generate more used inventory.

What’s more, AutoTrader suggests that with third-party credibility backing up the dealer’s offer for a shopper’s car, it helps create a “much easier” discussion about the trade-in’s worth.

“The Trade-In Marketplace has seen phenomenal growth in the last two years, and we are exceedingly pleased with how well received the tool has been by both consumers and our dealer customers,” said Brian Skutta, the general manager of the Trade-In Marketplace.

“As the only online tool available that gives shoppers a third-party backed instant offer on their used car, the Trade-In Marketplace brings a new level of transparency to the trade-in process, which is great for dealers and shoppers alike,” he added.

Shoppers can access the TIM program either by visiting its website from their own computer or going to the website at a computer/kiosk at a participating dealership.

After the consumer punches in all the pertinent details about the potential trade-in, TIM generates a price. It considers the transactional data from hundreds of thousands of vehicle transactions, as well as the most current supply/demand data. The shopper then receives a printable purchase offer.

Shoppers accessing TIM away from the dealership also receive a list of participating stores.

After the offer is taken to the store, the dealer inspects the vehicle. Once the condition is confirmed, the consumer can either use the trade-in money to put toward a new-vehicle purchase or just take home a check.

Offering more data about the program, officials noted that there has been a 62-percent hike in the number of offers generated via this tool in the last year, adding that Feb. 20 marked a best-ever day for Trade-In Marketplace with 9,000 offers.

AutoTrader pointed out that more than 570,000 shoppers have to come to participating dealerships with TIM offers since January 2010, according to independent follow-up surveys.

Also, a little more than two-fifths of shoppers who have received a TIM offer chose to opt in — meaning they were interested in buying a replacement vehicle — versus taking the check, AutoTrader indicated.

As for the history of the program, TIM was first rolled in a few markets in June 2009 then become available throughout the U.S. in October 2010. Then in October of last year, the Trade-In Marketplace was brought to the website of Kelley Blue Book. More than 300,000 offers have stemmed from Kbb.com since then, officials noted.