CAR valuation experts CAP will launch a real time used car trade valuation system called ’Black Book Live’ in May.
The new system, which values trade vehicles in real time, will not replace the monthly Black Book guide. Instead, the Black Book guide will continue to be published in all its current formats.
For users, the major difference will between Black Book Live and current CAP used car valuations is speed. Current CAP used car valuations are published on a monthly basis, whereas valuations in Black Book Live will change as soon as sufficient evidence is gathered to indicate that the market value of a vehicle has changed.
It means the values published in CAP’s monthly pricing products will now become a ‘snapshot’ of the Black Book Live system, and it is expected the quality or accuracy of existing monthly valuation products will improve.
The monthly ‘snapshot’ will be taken later in the month than the current editorial production process allows. Therefore monthly published valuations will be more up to date when products are released.
‘The integrity of all our valuations will therefore be enhanced,’ says CAP.