New CAP product provides short-term fleet disposal valuations
Black Book+ reveals short-term used car pricing risk by providing a 1-3 month forecast to assist anyone who buys or sells used cars in a trade environment.
The firm says that the availability of forecast valuations, from one to three months, will enable "fine tuning" of the time to take vehicles back to market, to help ensure the best residual value returns.
And CAP says that the research and evidence-based methodology behind Black Book+ has delivered consistently accurate forecasts during recent months of piloting the system. The most recent one-month out-turn revealed an average Black Book+ under-forecast of 0.8% – or £14 per unit – at the 3yr/70,000 benchmark.
Black Book+ forecast valuations apply to vehicles over 12 months old, at mileage points from 1,000 to 250,000 miles and up to five years old. Forecasts are produced on a constant basis in real time, providing the most up to date intelligence possible, together with a brief narrative explanation of each forecast rationale.
CAP product development director, Anthony Doherty, said: 'With Black Book+ we are answering our customers’ demand for more comprehensive used car valuation tools.
'By introducing short-term forecasts, published in real time instead of once a month, Black Book+ will help operators in car retail and fleet disposals to be more nimble and effective in maximising profit and residual values.'