SANTA MONICA, Calif. -

Many dealers are familiar with Edmunds.com’s car appraisal tool that many customers use to check the value of their current vehicle on the site. But now, dealers can utilize the tool on their own websites.

Edmunds revealed Monday that its True Market Value Trade-in Tool is now available for dealer websites and allows shoppers to obtain third-party assessment of their cars trade-in value while shopping for a new or used car.

And it seems Edmunds’ Premier Dealer Program participants are already getting positive feedback from customers regarding the new offering.

“Visitors to our website clearly want to know the True Market Value for their trade-in,” said Paul Passerelli, general manager at Long Island City Hyundai. “Since the moment we first made Edmunds.com’s TMV Trade-In Tool available on our site, it has quickly become our number one source of all leads with our highest closing ratio.” 

Commenting on the news, Edmunds vice president of product integration Katti Fields said, “The best car dealers are constantly exploring new ways to create a friendlier and more stress-free experience for their customers.

“With the TMV Trade-In Tool, dealers can provide a useful service while associating themselves with a trusted brand,” she added.

Customers using the tool give information about their vehicles, such as ZIP code, style, color and more, along with their contact information.

Then, the “range of True Market Value prices are then displayed, and the contact information is passed along to dealers who can then engage with their new customers,” the company explained.

 

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