A part-exchange and fleet disposals valuation tool offering real time short-term used car trade price forecasts has been launched by CAP.
Black Book+ reveals short term used car pricing risk by providing a 1 - 3 month forecast to assist anyone who buys or sells used cars in a trade environment.
For dealers Black Book+ reduces the risk around valuing cars for part-exchange before deals can be finally completed. This is especially valuable in the increasingly common case of long lead times on new cars creating the risk of additional depreciation for the part-exchange vehicle.
This has become an increasingly serious issue for dealers over the past year by seriously eroding profit on previously agreed part-exchange deals. Black Book+ will significantly reduce that risk by offering a clearer view of the vehicle's value when the deal is completed.
For fleet disposers the availability of forecast valuations, from one to three months, enables ‘fine tuning' of the time to take vehicles back to market, to help ensure the best residual value returns.
Black Book+ forecast valuations apply to vehicles over 12 months old, at mileage points from 1,000 to 250,000 miles and up to five years old. Forecasts are produced on a constant basis in real time, providing the most up to date intelligence possible, together with a brief narrative explanation of each forecast rationale.
CAP product development director, Anthony Doherty, said: "With Black Book+ we are answering our customers' demand for more comprehensive used car valuation tools.
"By introducing short term forecasts, published in real time instead of once a month, Black Book+ will help operators in car retail and fleet disposals to be more nimble and effective in maximising profit and residual values."