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Black Book finalizes another integration; this time with CarDr.com
Image courtesy of the company.
Black Book added to its collection of five integrations the company has finalized so far this year.
On Monday, Black Book formed a relationship with CarDr.com that will focus on data points to help dealers better identify vehicles with lower risks and higher potential profitability.
Black Book reiterated its pricing and value data includes statistical analysis that can allow for current and time-sensitive changes in historical valuation to be easily understood, resulting in reliable predictors of the vehicle’s actual value.
The CarDr.com’s Vehicle Appraisal smartphone application can allow dealership staff to detect not only p code, but OEM-level C & B codes. OEM OBD diagnostics can allow a dealer at an auction or a trade-in point to make an immediate OEM level diagnostic of a vehicle to understand the potential issues better.
In addition, CarDr.com said its appraisal report generated from the application has proven to be a valuable tool for automotive wholesalers to share appraisal reports with their potential buyers easily.
“This tool will be critical, allowing dealers to instantly determine precise values of used vehicles,” Black Book vice president of data licensing Susan Moritz said in a news release.
“When we talk about providing the most accurate real-time valuation data, this tool illustrates the real-world impact. This has the potential to save dealers thousands of dollars per transaction,” Moritz added.
The company went on to mention the mutual relationship will foster an understanding of what drives the auto market and what factors help set vehicle-specific values. In addition, they will include essential data points, like how key attributes such as model, year and trim options affect value.
Beyond those core attributes, Black Book values are affected by industry trends, depreciation rates and curves and future predictions.
By providing accurate car values from Black Book, CarDr.com said it will uniquely position itself as a one-stop-shop for dealerships that need to accurately manage and weigh risks associated with their physical inventories.
Furthermore, the site highlighted historical data of a given model’s market performance and data analysis will be accessible to allow dealers to better manage, understand and calculate their inventory risks.
“We are excited to partner with Black Book to offer instant OEM-level vehicle OBD diagnostics with real-time data. The solution offers used-car dealers a world-class vehicle appraisal solution that generates most reliable predictors of values and potential risks,” CarDr.com founder Parry Singh said.
Black Book’s relationship with CarDr.com arrived after the company landed alliances with other firms earlier this year, including:
