More Auto Dealers Relying on AutoCheck Scores
SCHAUMBURG, Ill. --- Car dealers are increasing their use of AutoCheck vehicle history reports with the AutoCheck Score to instill customer confidence and make better decisions on their own used-vehicle inventories, according to Experian Automotive.
The AutoCheck Score, launched in 2007, was cited by 88 percent of surveyed dealers as providing more consumer confidence in the used vehicles they stock. Additionally, 83 percent of dealers felt the AutoCheck Score gave them more confidence in their own used inventories.
Dealers have found the most benefit in using AutoCheck reports as part of closing used-vehicle sales, during the trade-in/appraisal process and when purchasing used vehicles at an auction.
"AutoCheck provides the objective, third-party verification that dealers need to substantiate the quality of a vehicle and, in turn, help consumers feel confident that they are buying the right vehicle for them," said Michael McNett, sales manager for Kelly Ford of Lehigh Valley.
AutoCheck reports now feature a breakdown of the most important factors directly contributing to a vehicle's AutoCheck Score. This provides a snapshot of up to three positive and three negative factors.
"Having the information on a vehicle's history isn't enough; dealers need to be able to quickly and confidently understand and convey that information when moving used vehicles on and off their lots," said Scott Waldron, president of Experian Automotive. "This is especially true when providing the peace of mind that consumers demand when purchasing a used vehicle."
According to research conducted by the Blackstone Group, the level of confidence consumers have in the used vehicle they plan to buy is a key contributor to whether they make a purchase. When polled on the role the AutoCheck Score plays in their level of confidence, 80 percent of respondents said that the AutoCheck Score made them feel more confident in the vehicle. Additionally, 77 percent of respondents felt more confident in the information in the vehicle history report. The majority of respondents preferred the AutoCheck report with the AutoCheck Score to competitive vehicle history products.
The AutoCheck Score -- a number between one and 100 -- factors key areas of a vehicle's history, including reported title brands, auction announcements, reported mileage, number of owners, reported accident and accident severity, and theft and repossession history.