CarDr.com launches smartphone App and world’s smallest OBD adapter to offer “OEM-level” OBD diagnostics integrated with Black Book Values for Best-In-Class vehicle Appraisals.
CarDr.com and Black Book together will focus on data points to help used car dealers better identify vehicles with lower risks and higher potential profitability. Black Book pricing and value data include statistical analysis that allows for current and time-sensitive changes in historical valuation to be easily understood, resulting in reliable predictors of the vehicle’s actual value.
The CarDr.com’s Vehicle Appraisal Smart Phone Application allows dealership staff to detect not only p code, but OEM level C & B codes. OEM OBD diagnostics allows a dealer at an auction or a trade-in point to make an immediate OEM level diagnostic of a vehicle to understand the potential issues better. In addition, the appraisal report generated from the application has proven to be a valuable tool for automotive wholesalers to share appraisal reports with their potential buyers easily.
“This tool will be critical, allowing dealers to instantly determine precise values of used vehicles,” says Susan Moritz, VP Data Licensing at Black Book. “When we talk about providing the most accurate real-time valuation data, this tool illustrates the real-world impact. This has the potential to save dealers thousands of dollars per transaction,” she adds.
The mutual relationship will foster an understanding of what drives the auto market and what factors help set vehicle specific values. In addition, they will include essential data points, like how key attributes such as model, year, and trim options affect value. Beyond those core attributes, Black Book Values are affected by industry trends, depreciation rates and curves, and future predictions.
By providing accurate car values from Black Book, CarDr.com will uniquely position itself as a one-stop-shop for dealerships that need to accurately manage and weigh risks associated with their physical inventories. In addition, historical data of a given car model’s market performance and data analysis will be accessible to allow dealers to better manage, understand and calculate their inventory risks.
Parry Singh, founder of CarDr.com said, “We are excited to partner with Black Book to offer Instant OEM level vehicle OBD diagnostics with real time data. The solution offers used car dealers a world class vehicle appraisal solution that generates most reliable predictors of values and potential risks.”
