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Kelley Blue Book Instant Money Offer Helps Dealers Acquire More Inventory with Unseen Appraisals

IRVINE, Calif., June 30, 2021 /PRNewswire/ — Events of the past year have forced car dealerships to innovate and evolve to meet the growing expectations of consumers now accustomed to doing everything virtually. The change in the automotive consumer journey is undeniable; most car buyers want to reduce or eliminate time spent at the dealership, hoping to conduct as many transactions remotely as possible. Yet the rapid transition from pre-pandemic life to the present day has heightened the challenges of automotive digital retail. It can be difficult for dealerships to complete a key part of the transaction – evaluating a customer’s trade-in – efficiently and consistently when the vehicle is not physically present in the field. Meanwhile, amid the current low inventory crisis, dealers are scrambling to acquire more vehicles as quickly as possible to satisfy increased demand from car buyers in the market and boost their profits. In response to these growing needs and more, Kelley’s Blue Book recently updated its Instant cash offer to help dealers increase efficiency and acquire more inventory with invisible on-sight appraisals.

Kelley Blue Book’s The Instant Money Offering provides invisible on-sight appraisals, which offer vehicle appraisals that help both dealers and consumers in the early stages of the trade-in or sale process without requiring the customer or the car or at the dealership. With Sight Unseen Appraisals, any dealer representative (not just an appraiser) can easily facilitate a remote appraisal by directly inviting a consumer to complete an instant cash offer. This allows dealers to acquire inventory at a lower cost to market. In-sight invisible appraisals help dealers increase both the efficiency and consistency of their appraisals, ultimately providing additional opportunities to acquire more inventory.

Sight Unseen Appraisals also benefits consumers, as the tool helps streamline their experience and fulfill their desire to conduct most of the car buying and selling process digitally. Consumer confidence in the transaction increases when dealers leverage a trusted third-party brand, Kelley’s Blue Book, to deliver expertise online. Using sightless reviews also increases consumer satisfaction with the eventual on-site experience by saving them time by completing the remote review in advance. The benefits of on-sight appraisals extend from the dealer to the consumer, creating a more positive and beneficial experience for both parties in the transaction.

“In today’s challenging market, characterized by low vehicle supply and strong consumer demand, the opportunities for dealers to secure inventory are greater than ever,” said Randy KobatVice President of Operations for Inventory Management Solutions at Cox Automotive, Kelley Blue Book’s head quarter. “Invisible on-sight appraisals help dealers save acquisition costs and get new inventory faster so they can better serve the growing population of ready-to-buy customers. And because Instant Cash Offer strives To provide the best possible experience for dealers and their customers, the enhanced experience makes it quicker and easier for consumers to settle the details of their trade-in or sale of their vehicle remotely, before they even set foot in the dealership. dealer.”

The new Kelley Blue Book Sight Unseen appraisal process is made possible through the newly redesigned vehicle condition quiz in Instant Cash Offer. For the growing number of consumers looking to transact virtually from home, the updated vehicle condition questionnaire offers several benefits, including a more visually intuitive design and reduced overall questionnaire length. As part of the revamp, car shoppers can now cycle through each major section of the condition quiz (Exterior, Interior, Mechanical), minimizing user fatigue and allowing for faster quiz completion. With the quiz now more friendly to car shoppers, dealerships are better equipped for higher conversion rates and lower exit rates. For consumers and dealers, the updated condition quiz provides more accurate information by identifying vehicle damage and issues in advance, ultimately providing more transparency in the process and eliminating potential friction at the dealership. dealer.

To learn more Kelley Blue Book’s Instant cash offer, viewless appraisals and more, visit https://b2b.kbb.com/dealership/inventory-and-trade-in/ico/.

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On Kelley’s Blue Book (www.kbb.com)
Founded in 1926, Kelley’s Blue Book, The Trusted Resource®, is the source of vehicle ratings and information that consumers and the automotive industry trust. Every week, the company provides market-reflecting values ​​on its premier website KBB.com, including its famous Blue Book® Trade-in values ​​and Kelley’s Blue Book® Price Advisor tool, which provides a range of what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a trade-ready offer with Kelley Blue Book.SM Instant cash offer. The Company also provides vehicle prices and values ​​through various products and services available to automobile dealerships, automobile manufacturers, finance and insurance companies, and government agencies. Kelley’s Blue Book is a Cox Automotive brand.

About Cox Automotive
Cox Automotive Inc. makes it easier for everyone to buy, sell, own and use vehicles. The 27,000+ team members and global company family of brands, including Autotrader®Dealer.com®Dealer®Dickinson Fleet Services, Kelley’s Blue Book®Mannheim®NextGear Capital®WineSolutions®vAuto® and Xtime®, are passionate about helping millions of car buyers, 40,000 car dealership customers across five continents, and many more in the automotive industry to thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately held, Atlantabased in New York with annual revenues of nearly $20 billion. www.coxautoinc.com

THE SOURCE Kelley’s Blue Book

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