Edmunds launched a new trade-in valuation tool for its dealer partners on Tuesday that uses artificial intelligence and predictive search capabilities to help consumers get their vehicles valuated in a more timely fashion. 

The tool, which is embedded on the dealer’s website, also utilizes True Market Value data from Edmunds, which the company says can foster trust in the trade-in value the customer receives.

It also employs Google Analytics to give dealers insight into shopping behaviors on their respective websites. 

The trade-in valuation solution is now available to dealers across the country. 

“Today’s web-savvy shoppers are conditioned for speed and aren’t likely to complete slow, clunky web forms,” said Nick Gorton, vice president of product innovation at Edmunds, in a news release.

“If dealers want to effectively attract, retain and convert mobile shoppers, implementing the most technologically advanced online tools is essential,” Gorton said.

Pilot tests of the trade-in tool showed a 40- to 45-percent average form completion rate, whereas the industry benchmark is 25 percent, Edmunds said.

Nathan Rodriguez is digital marketing manager for Lia Auto Group, which was one of the dealerships to conduct early testing. He said in the news release, “We’ve have seen an increase in overall conversion and are getting more used cars for our lot, which no doubt saves us time.”