Black Book has recently partnered with Autodata Solutions to integrate their As-Built Valuation Service. This web service is designed to help individual dealers, vehicle lenders, auctions, fleet management companies, consumer trade-in websites, inventory appraisal applications, used vehicle merchandisers and rental companies automatically calculate as-built vehicle valuations and precise leases. The service will also bring greater accuracy to finance portfolios, auctions and used vehicle merchandising values.
“Industry leaders have had access to this data manually, but with the automation now possible through our integration, we expect to see significant benefits to valuation and profit potential,” said Craig Jennings, president of Autodata Solutions.
To describe used vehicles, the As-Built Valuation Service harnesses ChromeData’s vehicle catalog data, as well as OEM build data and user-entered feature descriptions. ChromeData is an Autodata Solutions brand that’s well established within the industry for providing accurate and complete vehicle and OEM build data. The service can access over 30 years of data, including high-quality VINs and new car, light truck and motorcycle information.
“The integrated offering automates the process of VIN-specific decoding and adjustments on vehicle options, trims, and add/deducts,” said Jared Kalfus, executive vice president of revenue for Black Book. “The ability to automate this process saves significant time for the user, ensuring even greater accuracy during the valuation process.”
The As-Built Valuation Service is mapped to Black Book add/deducts to automatically return a more thorough and precise vehicle value for any compatible VIN. According to Jennings, access to such accurate data “represents a game-changing opportunity for the industry.” For example, when processing a representative portfolio sample of 180k vehicles using As-Built Valuation Service and OEM Build Data including multiple brands and model years, results show an adjustment of 36.4MM to the portfolio.
