BookItOut: True-Cost Vehicle Values Available to Dealers

August 25, 2009

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JACKSONVILLE, Fla. — Vehicle information provider BookItOut has released its fourth and final generation of vehicle pricing, which is designed to supply dealers with competitive information they can use to gain a vehicle's "true-cost" value based on data it gathers from a nationwide network of dealers and finance companies.

"For the first time, used-car dealers are able to base their purchase decisions on the market as a whole," said Jonathan Hedy, executive vice president at BookItOut.

"True-cost" as defined by the company is basically "real pricing from real dealers" and is calculated through a database analysis that is updated daily to include actual vehicle values from dealers throughout the country.

"Used-car dealers are now able to base their purchase decisions on the market as a whole with our service," Hedy continued. "Dealers are no longer limited to auction values that have rendered conventional guides useless in today's market."

"Using an actual purchase price, sales information, reconditioning data, actuarial-based inventory and sales analytics gives used-car dealers an advantage unlike any they had before," he explained.

For dealers to "book" a car while at an auction, for example, they can go to the company's site via mobile device, choose the vehicle, select any applicable options from a checklist provided, and a report is provided which includes the car's wholesale value, average repair costs and most recent selling price in the dealer's region, state, city or ZIP code.

Additionally, each BookItOut search returns the vehicle's Manheim listing, Kelley Blue Book value and a link to its Carfax report.

"With true-cost values and market analytics, dealers are able to make smarter decisions, therefore increasing gross profit and inventory turnover," Hedy concluded.

For more information, visit www.BookItOut.com.