Whether you wish to enhance your vehicle data order, or upload your own database of vehicle VIN data, we can enhance your database quickly and cost effectively. Adding the Black Book values to your vehicle owner database helps in several ways but primarily it helps the finance department with insight into the profitability of a given trade-in transaction.
WHAT IS BLACK BOOK?
Black Book value is the current auction value of a vehicle based on the Hearst Business Media Corp company, Black Book. Simply, its dollar valuation of a particular make, model and year built when sold at auction. Black Book values are the market value of a vehicle based upon the various upgrades and accessories, i.e., sunroof, security alarm, leather interior, and chrome highlights. Since new cars are entering the market every day, the demand for certain vehicles goes up and down.
HOW IS IT USED?
When an auto dealership uses direct mail and mails to the surrounding population of car owners, having the value of their existing car helps the dealership quickly and accurately assess what dollar valuation they can place on the incoming “trade-in”.
Knowing the true value of a “trade-in” vehicle is crucial to the profitability of sold new vehicles. Even slightly off, the wrong “trade-in” value can make the new car sale unprofitable. And with Black Book values changing on a daily basis, car dealers are best served to use our Black Book Append process and ensure they are always making profitable deals when selling their cars. Also for consideration is the Kelley Blue Book Appendprocess.