HPI LAUNCHES ENHANCED VALUATIONS TRENDS SERVICE
CAP Black Book partnership helps dealers stay on top of market changes
Vehicle information expert, HPI, has joined forces with CAP Black Book to launch HPI Black Book+, a unique online valuations service which provides dealers with a 12 month historical picture of a vehicle’s valuation and a 3 month forecast. By providing 15 months of valuations intelligence, dealers gain a better understanding of residual values in a fluctuating market.
The launch is a result of HPI’s longstanding partnership with CAP, one of the biggest names in the vehicle valuations market. This partnership brought to market the HPI Mid-Month Valuations tool and now, with HPI Black Book+, dealers have access to valuation trends, as part of their vehicle history checking process, to help them better assess new retail opportunities for new stock or part exchanges.
Busy dealers on the road, at an auction or on the forecourt, can access HPI’s valuation services via their iPhone or android smartphone mobile, as all of HPI’s trade services are now delivered through its new mobile enabled browser – as well as online via a PC.
“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,” says 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.
“Once again, HPI is harnessing its powerful partnership with CAP to bring dealers the most accurate valuations tool available. In the current market dealers need to be able to get the latest information on market trends, allowing them to react to changes and effectively manage their stock. Now dealers can instantly get a fuller picture of a vehicle’s value, as we continue to support the HPI dealer community in a tough market.”
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.”