For further information contact:

                                                       Eric Lawrence

                                        (770) 533-5332 

            ELawrence@BlackBookUSA.com                                 

 

 

October 12, 2009

 

DealerTrack Upgrades “BookOut for Lenders” with

Weekly Updated Values Provided by Black Book

 

Gainesville, GA - Black Book, best known in the Automotive and Finance Industries for providing timely, independent, and accurate vehicle pricing data, is pleased to announce that its used vehicle values will be available to users of DealerTrack’s recently introduced “BookOut for Lenders” software application.  The values, available as weekly or monthly updates, will be automatically integrated within the credit application system, helping streamline the used vehicle buying, selling, and financing process. 

Many financing sources still rely on printed guides or separate valuation software.  Information must be individually located in the latest book or computer application, and then entered manually into the lender’s own documents, a time-consuming process with numerous opportunities for human error.  DealerTrack has addressed both of these issues with the launch of “BookOut for Lenders.”  

 

Tom Cross, president of Black Book, commented:  “We are very excited about expanding our relationship with DealerTrack, and the timing is perfect, as more and more lenders are now using Black Book values in their loan origination process.  We have been providing timely, accurate, and independently derived used vehicle values to dealers and financial institutions since 1955, and we are committed to staying on the cutting edge of new and innovative technology.  It is crucial in today’s economic environment that lenders have instant access to accurate, real world collateral values to ensure that their origination, risk, and remarketing strategies remain aligned.”

 

Robert Granados, vice president and general manager of DealerTrack, added: “Integrating Black Book values into “BookOut for Lenders” gives our customers unprecedented access to accurate and up-to-date used vehicle values.  We are committed to providing them with the tools and information they need to capture, control, and convert every sales opportunity, and using the correct value is vital to their success.  The used vehicle market is very volatile, and can change dramatically in a matter of days.  The weekly updates provided by Black Book will ensure that both dealers and lenders have easy electronic access to accurate vehicle values on a timely basis.”

 

About Black Book

 

Best known in the Automotive Industry for providing timely, independent, and accurate vehicle pricing data, the Black Book® family of vehicle appraisal guides (www.BlackBookUSA.com) is published by National Auto Research, a division of Hearst Business Media.  New and used car dealers, lenders, manufacturers, fleet remarketers, and government agencies have relied on Black Book since 1955.  Black Book provides values for both new and used vehicles, including cars and light trucks produced since 1946, collectible and exotic vehicles, motorcycles, ATVs, snowmobiles, personal watercraft, and heavy duty commercial trucks and trailers.  Black Book data is published daily in multiple electronic formats including data feeds, Internet-based applications, hand held PDAs, web enabled cell phones, Pocket PCs, BlackBerry and Palm devices, SmartPhones, Micro Browsers, online trade appraisal services, and in a variety of other custom products.  Printed versions are also available on a weekly basis.  Whether you’re buying, selling, or lending, Black Book’s mission is to provide the Automotive Industry with timely, independent, and accurate information to help make the right decisions.