HAUPPAUGE, N.Y. — GrooveCar has announced a new collaboration with Kelley Blue Book to bring credit union members the Kelley Blue Book Price Advisor tool.
“Now available on the GrooveCar platform, this feature helps vehicle shoppers understand what they should pay for a new or used vehicle,” GrooveCar said. “Members of all ages are looking for information on how to best finance a vehicle, while learning about vehicle pricing, makes and models, along with Kelley Blue Book Trade-In Values for their current car. With GrooveCar, new features like Kelley Blue Book’s Price Advisor tool help members benefit from a site designed to meet their needs, loaded with popular content to help them conduct these activities online, while providing leads to the credit unions.”
According to the company, more than 97% of consumers search the internet before arriving at a dealership, conducting their research and forming decisions before heading out the door for a test drive.
“This is no longer just a trend, it’s a necessary business tool. Big banks have all recognized the need to offer more than auto loans to engage their customers,” said Robert O’Hara, VP-strategic alliances with GrooveCar, in a statement. “Credit unions were early adopters to provide this service to capture more loans and now those who haven’t jumped on board, need to do so to remain relevant.”
GrooveCar said the strategy is to continue to provide resources members can benefit from during the process direct from their credit union. Kelley Blue Book’s Price Advisor tool for both new and used cars, which will provide the Fair Market Range of vehicles found throughout GrooveCar’s inventory listings, comprised of more than three-million vehicles nationwide.
GrooveCar said Fair Market Range reflects the range of prices most buyers pay for a specific vehicle type this week. This range is determined using sophisticated statistical models that consider recent transactions, supply, demand and market changes, it added.
What Car Buyers are Seeking
“Car buyers are seeking a trusted resource with compelling information they can use to help build confidence along the car buying and selling journey,” said Damon Bennett, senior director of syndication, Kelley Blue Book, in a statement. “With expert, up-to-date and data-driven pricing information, consumers benefit from Kelley Blue Book pricing through GrooveCar’s platform, helping them make the best possible purchase decision.”
According to the company, this lead generating tool will require each user to register on their credit union’s custom GrooveCar Direct site before gaining access to the Kelley Blue Book Values.
“Car shoppers will register to get this valuable information and the credit union will now be able to connect with their car shopping members before they get to the dealership,” added O’Hara.
GrooveCar said members have increased the amount of time they spend online, dealing with their financial needs, not just with online banking, with research showing members spent four months conducting research on vehicles online, and that 72% prefer to complete financial and credit applications there as well.
For info: http://www.groovecarinc.com.