All NADA Values Online subscribers now have another tool at their disposal.

On Friday, J.D. Power announced a new feature aimed at enriching its extensive used-vehicle database. The company highlighted that the VIN Based Option is a new feature that utilizes packaging, content and descriptive features specific to a vehicle’s entire 17-character VIN (vehicle identification number) to enhance and customize each vehicle valuation instead of the basic 11-character VIN.

Currently, J.D. Power explained that an 11-digit VIN only provides basic information such as make, model and engine, meaning there is limited understanding about the vehicle you are researching. Now, with the marriage of the data tied to the full VIN from J.D. Power’s transaction database, the VIN Based Option feature can provide what the company believes is a precise, uniquely adjusted vehicle valuation, down to specific features and options installed in that specific vehicle.

“This tool has really taken vehicle valuation to the next level and provides subscribers with extremely valuable information at any stage of the process when buying or selling a used vehicle,” said Jonathan Banks, vice president and general manager of vehicle valuations at J.D. Power.

“Our valuation customers can move from a general approach to vehicle valuations and move to a precise value for an exact vehicle. This type of precision removes the guesswork of evaluating whether specific features, packaging and options are built on the vehicle, and that provides game-changing transparency,” continued Banks, who is among the experts on tap to appear during Used Car Week 2018 that begins Nov. 12 in Scottsdale, Ariz.

The VIN Based Option is a comprehensive tool supported by EpiAnalytics’ proprietary software, which correlates relevant data to the VIN using artificial intelligence (AI).

In addition, EpiAnalytics delivers access to additional millions of vehicles beyond the millions included in the J.D. Power database from CarStory.

“Identifying specific vehicle options, packages and trim within the 17-digit VIN provides users the ability to precisely price and accurately compare vehicles,” said Jim Vecchio, president of EpiAnalytics.

“In working with the automotive industry’s most trusted source for over five years, we have perfected our solution to deliver a VIN-based ‘birth certificate’ for each vehicle,” Vecchio continued.

Chad Bockius, president and chief product officer of CarStory, added his perspective, too.

“Both J.D. Power and CarStory share a collective passion for data, analytics and intelligence,” Bockius said. “These traits are on full display in the NADA Values experience.

“Analyzing more than eight billion different data points using its own computer vision and machine learning do accurately describe a vehicle, this approach not only saves dealers time, it also leads to the most accurate valuations available on the market today,” Bockius went on to say.

Bockius recently participated in an episode of the Auto Remarketing Podcast to discuss how market data can help car dealers make decisions around inventory. The conversation is available below.