Black Book understands dealerships and finance companies need the most accurate data possible, especially with the pandemic creating so many unprecedented circumstances.

In response on Wednesday, Black Book announced that its most precise valuation yet — VIN-specific history adjusted valuations — is now available for residual values in their self-service batch processing platform, ValuEngine as well as their API.

Black Book pointed out that history adjusted valuations already have been available in wholesale, retail, trade-in, current and historical values. The incorporation of history adjusted valuations into Black Book’s residual values are geared to provide customers with the ability to get VIN-specific at a residual level; what the company believes is an industry first.

“We’re excited to introduce History Adjusted Valuations into our residual values,” said Kyle Luck, vice president of product management & software development at Black Book.

Luck continued in a news release, saying “1-72-month projections with history adjustments are immediately available in our ValuEngine product and web API.”

Black Book reiterated that its residual values are based on wholesale values and go through an editorial process as well as statistical modeling. The incorporation of history adjusted valuations into the process gives a “never-before-seen level of precision,” according to Jared Kalfus, Black Book’s executive vice president of revenue

“Residual forecasts are used in lease portfolio valuations to estimate depreciation expenses or assess reserve levels, forecast gains or losses, benchmark and trend analyses, and most importantly, to help our clients manage credit and residual risk,” Kalfus said.

“This level of precision will give our customers a significant advantage over their competition,” he went on to say.

To get more information about ValuEngine, residual values, or history adjusted valuations, visit www.blackbook.com or call (800) 554-1026.