ACV Auctions said Tuesday it has purchased vehicle accident inspection provider TrueFrame, a move that adds retail inspections to ACV’s offerings.
TrueFrame is the provider of the True360 vehicle inspections, which aim to provide dealers and consumers more context when they’re buying used vehicles. These reports publish on CARFAX and AutoCheck vehicle history reports and on dealer website vehicle details pages.
“We welcome the TrueFrame dealer partners, commercial consignors and teammates to ACV Auctions as we share a common mission to be the most trusted and transparent way for dealers to buy and sell used vehicles,” ACV chief executive George Chamoun said in a news release.
"If a vehicle has been in an accident, it typically faces diminished value that is more significant than the actual severity of the damage. Only after a TrueFrame inspection do we know the extent,” Chamoun said. “With our comprehensive vehicle inspection and True360 report, there is no need to guess, enabling transparency and increasing trust; ultimately increasing the value of used vehicles.”
ACV said this purchase “furthers its mission to provide the industry's most accurate view of a vehicle's condition.”
True360 reports can be run on used vehicles for dealers and commercial consignors.
TrueFrame CEO Frank Lynch said in a news release: “After meeting the ACV team, we knew that our two companies and products were a perfect fit. We share a common focus on bringing transparency to the used car marketplace and helping our dealers succeed.”
Terms of the purchase were not disclosed in the news release.