Manheim, part of Cox Automotive, has launched a suite of valuation and appraisal products to support dealers with the part-exchange process – both online and on-site.
The suite of products consists of eVA Valuations, eVA Appraisals, eVA Underwrite and eVA Insight. The products have been designed to provide solutions across the entire part-exchange process – from online consumer valuation to disposal decisions.
Paul Humphreys, managing director of car buying and mobility at Cox Automotive UK, said: “The move towards online car buying has begun and is gathering pace, but building part-exchange into the deal adds an element of complexity that other parts of the retail sector haven’t needed to overcome.
“In the world of new cars, we already offer part-exchange valuation tools that feed into the full e-commerce offering of OEMs, allowing online customers to complete their deal – from car configuration right through to delivery.”
eVA Appraisals is a vehicle inspection tool that supports the dealer sales team to provide accurate, consistent part-exchange appraisals.
For disposing of vehicles, eVA Insight uses data to support smart decision making on whether to sell a vehicle on the forecourt or through the wholesale network.
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Humphreys added: “Manheim has been a market leader in valuation and appraisal technology since the launch of its Seller Advance product in 2009. Manheim Valuation & Appraisals takes this product to the next level with the addition of a consumer facing tool, deeper insight, and the option to sell the vehicle for a guaranteed price.
“All our current Seller Advance clients will be migrated to the new platform during 2020 enabling them to benefit from the growing demand for ecommerce services in the automotive sector.”
The products are based on Manheim’s valuation technology, which uses wholesale and retail data to calculate vehicle values up to six months in advance.