LAWRENCEVILLE, Ga.—Lenders can now get a more accurate picture of a car’s residual value, according to Black Book, which has released a new VIN-specific History-Adjusted Valuations.
The incorporation of History Adjusted Valuations into Black Book’s residual values provides consumers and lenders with the ability to get VIN-specific at a residual level, an industry first, according to Black Book.
“We’re excited to introduce History Adjusted Valuations into our residual values,” said Kyle Luck, vice president of product management and software development at Black Book.
Black Book residual values are based on wholesale values and go through an editorial process as well as statistical modelling. The incorporation of History Adjusted Valuations into the process gives a greater level of precision, the company said.
“Residual forecasts are used in lease portfolio valuations to estimate depreciation expenses or assess reserve levels, forecast gains or losses, benchmark and trend analyses, and most importantly, to help our clients manage credit and residual risk,” said Jared Kalfus, EVP of revenue. “This level of precision will give our customers a significant advantage over their competition.”
For info: www.blackbook.com