Black Book, a division of Hearst Business Media that provides industry-leading used vehicle valuation and residual value forecast solutions, announced today it will power the online vehicle valuation resource for MyDealerOnline, the first and only software that uploads wholesale auction, and other wholesale-sourced vehicles onto dealer websites, effectively enabling public buyers to purchase them through dealers.
MyDealerOnline software enables dealerships to add wholesale auction vehicles to their websites with only a few short clicks. Black Book is now powering the platform’s vehicle valuation resource, and dealers can leverage Black Book’s trusted vehicle valuations for an accurate price they can use to make online vehicle offers to interested car shoppers browsing thousands of vehicles from all over the country.
The Inventory-as-a-Service platform does not require additional funds or floor-plan costs typically involved with physical inventory for a dealership. The platform also improves the acquisition process, revenue potential, and customer satisfaction rates with one solution. As a wholesale online auction that’s direct-to-consumer, MyDealerOnline increases the chances for lease companies, wholesalers, consigners, and rental fleets to successfully resale inventory, such as off-lease and off-rental units.
“Dealers and wholesalers are impressed with our platform’s ability to virtually connect car shoppers with a vast inventory that is limited by no physical real estate at the dealership,” said Yury Kaganov, Co-Founder of MyDealerOnline. “And with Black Book as our vehicle valuation engine, our dealer partners are ensured to offer their expanded inventory with a price point that offers less adversarial friction to customers with increased profit potential to the bottom line.”
“We believe that platforms such as MyDealerOnline will greatly improve the chances of lease companies, wholesalers, financiers, and cosigners to successfully remarket excess inventory,” said Jared Kalfus, Senior Vice President of Sales at Black Book. “In addition to the right platform, we’re pleased to know our vehicle valuations will help dealers maximize their profit potential on their expanded list of inventory options to customers.”
“Our research has shown that website conversions to leads increase a minimum of 24% when customers have broader selection of inventory,” said Stan Thomas, industry consultant from T3 Consulting Group. “The powerful combination of MyDealerOnline’s inventory and Black Book’s valuation services will help dealers increase customer satisfaction and improve their dealers’ website effectiveness.”
MyDealerOnline is a wholesale to retail digital product that allows car dealers to broker auto auction inventory straight from their own websites. MyDealerOnline partners with wholesale auction houses and various vehicle supply channels and places a custom inventory feed directly onto subscribing dealers’ websites. MyDealerOnline removes the guessing game from the wholesale car buying experience and enables dealers to “Sell Before You Buy.” MyDealerOnline provides auction houses and their consignors with a broader exposure and car dealers with greater online inventory for direct consumer shopping.
About Black Book
Black Book® is best known in the automotive industry for providing timely, independent and accurate vehicle pricing information, and is available to industry-qualified users through online subscription products, mobile applications and licensing agreements. A leading provider since 1955, Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the insight necessary to successfully buy, sell, and lend. Black Book data is published daily by National Auto Research, a division of Hearst Business media, and the company maintains offices in Georgia, Florida, and Maryland as well as the Canadian Black Book in Toronto. For more information, please visit BlackBook.com or call 800.554.1026.