Two well-known industry names — Black Book and defi SOLUTIONS — are working together again.
On Monday, Black Book announced its history-adjusted valuations (HAV) data and resources will be integrated into an interface with defi SOLUTIONS.
Editors explained history-adjusted valuations are a VIN-specific, analytics-driven resource that can deliver Black Book’s most precise vehicle valuations, helping automotive professionals determine the impact a vehicle’s history has on its value. They added that defi SOLUTIONS becomes the first loan origination platform to include Black Book’s HAV data feed, and users can benefit by identifying undesirable deals prior to the origination process.
What’s more, users can improve advance amounts to minimize future loss severity; prevent dealer fraud; pinpoint active loans in collections and servicing and use HAV to set floors more accurately when remarketing.
Even with the use of vehicle history reports, Black Book stressed that automotive professionals are still reliant on making an unscientific, educated guess as to the impact a vehicle’s history has on its value, which often leads to mistakes in the valuation process. HAV can help automotive professionals remove the guesswork involved by providing access to a more precise value on each individual vehicle.
“defi SOLUTIONS has always strived to be a pioneer and innovator in loan origination solutions,” said Stephanie Alsbrooks, chief executive officer of defi SOLUTIONS. “In continuing this trend, we’re proud to offer Black Book’s unique History-Adjusted Valuations, a first-of-its-kind resource to help automotive professionals further pinpoint the most accurate value of a vehicle.”
Black Book executive vice president of revenue Jared Kalfus added, “Having the most precise, accurate value possible is extremely critical during the loan origination process.
“The ability to establish the right value at the time of origination has several spillover effects, such as loss reduction and healthy long-term portfolio expansion potential for each lender,” Kalfus went on to say.