GAINESVILLE, Ga. — Black Book announced this week that it has expanded its relationship with DealerTrack. The new relationship involves Black Book integrating used-vehicle values into DealerTrack's BookOut for Lenders application.

The goal of DealerTrack's new system is to simplify the process for lenders. Black Book's values, which are available as weekly or monthly updates, will be automatically integrated within the credit application system to ease the buying, selling and financing process as much as possible, officials explained.

"We are very excited about expanding our relationship with DealerTrack, and the timing is perfect, as more and more lenders are now using Black Book values in their loan origination process," said Tom Cross, president of Black Book.

"We have been providing timely, accurate and independently derived used-vehicle values to dealers and financial institutions since 1955, and we are committed to staying on the cutting edge of new and innovative technology," he explained.

"It is crucial in today's economic environment that lenders have instant access to accurate, real-world collateral values to ensure that their origination, risk and remarketing strategies remain aligned," Cross pointed out.

Robert Granados, vice president and general manager of DealerTrack, added, "Integrating Black Book values into BookOut for Lenders gives our customers unprecedented access to accurate and up-to-date used vehicle values."

"We are committed to providing them with the tools and information they need to capture, control and convert every sales opportunity, and using the correct value is vital to their success," he added.

"The used vehicle market is very volatile and can change dramatically in a matter of days," Granados continued. "The weekly updates provided by Black Book will ensure that both dealers and lenders have easy electronic access to accurate vehicle values on a timely basis."