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Reynolds and Reynolds Introduces New Tools to Help Dealers Make Most of Vehicle Value Data


December 2006
 Filed under: CAR CONSUMER Car News | CAR CONSUMER Headlines

New tools speed a dealer's ability to appraise trade-ins, determine used vehicle values, and estimate a customer's equity position on owned vehicles.

DAYTON, Ohio, Dec. 4 /PRNewswire/ -- The Reynolds and Reynolds Company announced it has launched two new equity and appraisal tools -- Equity Calculator in Contact Management and Vehicle BookOut in the Reynolds Desking application. Dealerships can use both tools to appraise trade-in values and determine used vehicle values quickly. In Desking, the information can be used in the sales and the finance and insurance (F&I) offices to obtain used car values when working on a deal. In Contact Management, Equity Calculator can be used in the sales department or business development center to target customers from a dealer's existing database who may be in a position to purchase another car.
The tools pull data directly from the N.A.D.A. Official Used Car Guide or Black Book(R), which both contain and publish pre-owned vehicle value information. Both Equity Calculator and Vehicle BookOut are optional, add-on tools.

The electronic access to vehicle book data significantly speeds the appraisal process. Today, too many dealers still rely on reference books for the data. In fact, 44 percent of dealerships surveyed in a Reynolds research study indicated they use a manual process.

"This feature provides dealers with the used vehicle information they need and want at their fingertips. No more flipping through books to look up a trade-in value. It's a faster, more accurate way to work and conduct business," said Dana Jones, vice president, sales and F&I solutions, at Reynolds. "Also, the tools can help dealers shorten the buying cycle and achieve higher grosses by targeting customers based on their estimated equity position in their current vehicle."

Vehicle BookOut in Reynolds Desking

The Vehicle BookOut tool integrates seamlessly with the Reynolds Desking application. Desking helps dealers quickly and accurately calculate and present multiple payment options to customers.

Dealers can use the Vehicle BookOut tool during the sales process to determine quickly the current market value of the proposed trade-in vehicle. Dealers also can use the tool to estimate the market value for their entire pre-owned vehicle inventory, including vehicles purchased from private parties, other businesses, and auctions. In addition, Vehicle BookOut offers reports to help analyze a dealership's inventory.

Equity Calculator in Contact Management

In Contact Management, dealers can use the new Equity Calculator to estimate the value of "sold" vehicles in their database in order to target customers with a specific vehicle model for marketing campaigns. They can use the calculator to determine the equity status of a customer's current vehicle and decide if he or she is a candidate for a new car. This method of targeted marketing enables a dealer to structure deals that are financially beneficial and help customers get into new vehicles sooner.

For more information, dealerships should contact their Reynolds account manager or call 1-800-767-7879.

About Reynolds

Reynolds and Reynolds and Universal Computer Systems merged in October 2006 to form the world's pre-eminent dealer services provider under the Reynolds and Reynolds brand. Today, Reynolds is the automotive industry's largest and most trusted provider of dealer software and services. The company delivers results for dealers through experienced people, proven practices, and innovative retail solutions. These solutions are led by the REYNOLDSYSTEM(TM) DMS (ERA(R)) and POWER(R), along with a full complement of applications and documents for every aspect of dealership operations. The company, with 6,500 associates, is headquartered in Dayton, Ohio, with major operations in Houston and College Station, Texas. (http://www.reyrey.com/)

Source: The Reynolds and Reynolds Company

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