VEHICLE information expert, HPI, has joined forces with CAP Black Book to launch HPI Black Book+.
It’s a unique valuations service which provides dealers with a 12 month historical picture of a vehicle’s valuation and a three month forecast.
By providing 15 months of valuations intelligence, dealers gain a better understanding of residual values in a fluctuating market.
‘Unlike other valuations services, HPI Black Book+ provides more than just a snapshot of a vehicle’s residual value at a particular moment in time,’ said Daniel Burgess, managing director for HPI. ‘With information on past, present and future values, now members of the HPI dealer community can prioritise which stock to concentrate their marketing efforts on.’
Mike Hind, communications manager for CAP, said: ‘Black Book+ is about boosting dealer profitability. A fully researched short-term forecast makes the valuation of cars for part-exchange, before deals can be finally completed, much safer for the dealer. That is especially valuable in these days of long lead times on new cars, with dealers often in the dark about how much more depreciation the part-exchange vehicle will incur after they initially appraise it.
‘This has become an increasingly serious issue for dealers who often see major erosion of their eventual profit on part-exchange deals agreed several weeks or months previously. By opening a window on immediate future depreciation Black Book+ significantly reduces that risk.’