Leedom Group’s Vehicle Valuation Guidebook Ramps Up for Spring Launch
SARASOTA, Fla. — Leedom Group is gearing up to debut its
BHPH Gold Book, what it's describing as a national vehicle valuation guidebook
designed to provide dealers and consumers with real-world retail values for
vehicles typically associated with the buy-here, pay-here marketplace.
The launch of the BHPH Gold Book is scheduled for April 9
during the BHPH World 2013 Convention in Las Vegas.
"There is virtually no data available in the marketplace for
the millions of transactions that are sold and financed by community-based auto
financiers," said Chris Leedom, president and chief executive officer of the
Leedom Group. "As leaders in the data collection arena for BHPH, this was a
natural product for us to add to our offering."
Leedom said dealers across the country will benefit from a
retail-pricing guide based on actual transactions that occur in the
marketplace. Leedom expects to initially gather data on between 300,000 and
500,000 transactions per year.
Additionally, he pointed out California law now requires
BHPH dealers to offer third-party vehicle valuations for consumer guidance on
the vehicles they sell.
"This will give this overlooked marketplace vehicle
valuation insight," Leedom said.
Leedom insisted his firm is uniquely positioned to provide
this data for both dealers and consumers since it has collected this and a
wealth of additional data from several million retail transactions representing
billions of dollars in the past 15 years.
"Our BHPH Gold Book will offer California dealers the
necessary information to comply with the new laws that address BHPH and pricing
disclosure," Leedom said. "Additionally, we will provide guidance to consumers
that are considering community-based auto financing at a BHPH dealer. We also
know other dealers across the country have need for a valuation guide such as
this since their customers have nowhere to turn to determine retail values in
this unique marketplace.
"Our data will include such provisions as whether the
vehicle was sold with or without a warranty and take into account the level of reconditioning
given the vehicle. BHPH customers will, for the first time, get real-world
transaction prices of vehicles available to them through this marketplace," he
went on to say.
An alpha-test of the Leedom Gold Book data is currently
being conducted in Florida and a beta test is scheduled for early spring with a
California launch to follow soon after.
"This data will, for the first time, track real-world retail
values, for a wide range of vehicles typically associated with buy here-pay
here dealerships," Leedom said. "It will provide consumers with guidance to
make an informed decision when considering BHPH financing, which ultimately is
the only option available for many buyers."
For more information, contact David Brotherton at (800)
996-8733.
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