LAWRENCEVILLE, Georgia– Black Book, a division of Hearst Business Media that provides industry-leading used vehicle valuation and residual value forecast solutions, announced its most precise valuation yet, VIN-specific History-Adjusted Valuations, are now available for residual values in their self-service batch processing platform, ValuEngine as well as their API.
This level of precision will give our customers a significant advantage over their competition.
History Adjusted Valuations have already been available in wholesale, retail, trade-in, current, and historical values. The incorporation of History Adjusted Valuations into Black Book’s residual values provides customers with the ability to get VIN-specific at a residual level, which is an industry first.
“We’re excited to introduce History Adjusted Valuations into our residual values,” said Kyle Luck, Vice President of Product Management & Software Development. “1-72-month projections with History Adjustments are immediately available in our ValuEngine product, and Web API.”
Black Book residual values are based on wholesale values and go through an editorial process as well as statistical modelling. The incorporation of History Adjusted Valuations into the process gives a never-before-seen level of precision.
“Residual forecasts are used in lease portfolio valuations to estimate depreciation expenses or assess reserve levels, forecast gains or losses, benchmark and trend analyses, and most importantly, to help our clients manage credit and residual risk,” said Jared Kalfus, EVP of Revenue. “This level of precision will give our customers a significant advantage over their competition.”
To get more information about ValuEngine, Residual Values, or History Adjusted Valuations, visit www.blackbook.com or call 800.554.1026.
Originally posted on Auto Dealer Today