The Car and Truck Fleet and Leasing Management Magazine

Black Book and Veretech Launch Black Book Online

September 23, 2004

Black Book and Veretech have joined together to offer a new service that will give car dealers the ability to identify and contact more customers who come to dealers' Web sites. Black Book Online is designed to be a "dealer friendly" alternative to other online trade valuation sources. Black Book, a provider of vehicle valuation data, currently has thousands of dealers using its pricing information in their daily used-vehicle operations. Previously, Black Book has not made its trade-in pricing data available for use by consumers on dealer Web sites on a national level. A recent national survey of Black Book customers showed a significant percentage were likely to use Black Book trade-in values on their dealer Web sites, if it were made available. "Dealers have come to realize that a high percentage of auto shoppers will research the value of their trade-in. Our studies show that the time is right for a product that provides realistic values that match what the Used Car Manager will be able to offer," said Bob Burnett, president of National Auto Research, which publishes Black Book. Black Book Online is placed on the dealer's Web site as a link. Customers who click on that link are prompted to enter their contact information and take a "virtual walk around" of their vehicle to accurately assess its condition. The trade-in value is then instantly presented as a price range, which allows the dealer to fine tune an offer to match the actual value of the vehicle. Local market conditions are also factored into the range. The consumer is alerted to potential sales tax savings where applicable. The sales lead is then forwarded electronically to the originating dealer for follow-up with the consumer.
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