LAWRENCEVILLE, Georgia – Black Book, known in the automotive industry for providing timely, independent and precise vehicle pricing information, today announced the integration of its vehicle valuation data with TradeVelocity, the industry-leading trade widget that allows consumers to see how time affects the value of their trade.
We’ve seen, on average, a two-to-three times increase in lead volume for dealers who are using our platform.
TradeVelocity, powered by Black Book’s vehicle valuation data and intelligence, helps dealers speed the trade-in and purchase process by allowing consumers to see depreciation by month.
“TradeVelocity takes the next step in online consumer vehicle appraisal by allowing dealers to set the depreciation rate, average maintenance cost, and tax savings on their dashboard,” said Jared Kalfus, EVP, Revenue at Black Book. “With this tool, dealers can better offer consumers a trade-in value that matches the dealer’s needs and market.”
Dealers can also set custom margins via the Black Book value to further customize their offered trade-in valuation to consumers.
TradeVelocity’s consumer facing trade in valuation solution can be implemented on the dealer’s website as a lead generation tool, but it can also be used on the showroom floor to demonstrate to the consumer how much value their trade in is depreciating if they hold on to it for just a few months longer.
“We’ve seen, on average, a two-to-three times increase in lead volume for dealers who are using our platform,” said Steve Knight, Founder, TradeVelocity. “Consumers don’t want to volunteer their information if they don’t receive anything in return. With TradeVelocity, we give consumers the value of their vehicle now, the value of their vehicle up to 12 months from now, and how much they can expect to spend on maintenance.”
TradeVelocity is now available to dealers nationwide.
Originally posted on F&I and Showroom