Schaumburg, Ill., Feb. 11, 2008 — According to recent research from Experian Automotive, a part of global information services company Experian, dealers are increasing their use of AutoCheck® vehicle history reports with the AutoCheck ScoreSM to instill more confidence in their customers and make better decisions on their own used-vehicle inventories.
Since its launch in 2007, the AutoCheck Score has significantly bolstered confidence in used vehicles. In a recent survey, 88 percent of dealers cited the AutoCheck Score as providing more consumer confidence in the used vehicles they stock. Additionally, 83 percent of dealers felt the AutoCheck Score gave them more confidence in their own used inventories. Dealers have found the most benefit in using AutoCheck® reports as part of closing used-vehicle sales, during the trade-in/appraisal process and when purchasing used vehicles at an auction.
“The AutoCheck vehicle history report with the AutoCheck Score is a fantastic resource to quickly and easily build value in your product for your customers and provide confidence in your purchases and trade-ins as a dealer,” said Michael McNett, sales manager for Kelly Ford of Lehigh Valley. “AutoCheck provides the objective, third-party verification that dealers need to substantiate the quality of a vehicle and, in turn, help consumers feel confident that they are buying the right vehicle for them.”
To ensure that the AutoCheck Score continues to be the easiest and quickest way to understand and build confidence in a vehicle and its history, AutoCheck reports now feature a new enhancement showing the breakdown of the most important factors directly contributing to a vehicle’s AutoCheck Score. Available to all AutoCheck customers, this enhancement provides a snapshot of up to three positive and three negative factors that most influence the AutoCheck Score. These factors give dealers an even easier way to understand and describe the AutoCheck Score, helping them and their customers make the best used-vehicle decisions possible.
“Having the information on a vehicle’s history isn’t enough; dealers need to be able to quickly and confidently understand and convey that information when moving used vehicles on and off their lots,” said Scott Waldron, president of Experian Automotive. “This is especially true when providing the peace of mind that consumers demand when purchasing a used vehicle.”
According to research conducted by the Blackstone Group, the level of confidence consumers have in the used vehicle they plan to buy is a key contributor to whether they make a purchase. When polled on the role the AutoCheck Score plays in their level of confidence, 80 percent of respondents said that the AutoCheck Score made them feel more confident in the vehicle. Additionally, 77 percent of respondents felt more confident in the information in the vehicle history report, with a significant majority of all respondents preferring the AutoCheck report with the AutoCheck Score to competitive vehicle history products.
“The AutoCheck Score is what makes AutoCheck more effective than other vehicle history reports and an exceptional selling tool for us,” said Pete Henrich, Internet manager, Chapman Nissan. “When it is quick and easy for a customer to see that a pre-owned vehicle hasn’t been in any accidents and has a high score, it gives them the confidence to buy.”
The AutoCheck Score — a number between one and 100 — factors key areas of a vehicle’s history, including reported title brands, auction announcements, reported mileage, number of owners, reported accident and accident severity, and theft and repossession history. By weighing all these information points, the AutoCheck Score provides a clear understanding of the full vehicle history report and the ability to compare against similar vehicles. For more information on AutoCheck vehicle history reports with the AutoCheck Score, please visit www.autocheckmembers.com.
About Experian Automotive
Experian Automotive, a part of Experian, delivers information services to manufacturers, dealers, finance and insurance companies, and consumers. Experian® helps automotive clients increase customer loyalty, target and win new business, and make better lending and vehicle purchase decisions. Its National Vehicle Database, housing more than 500 million vehicles, along with Experian’s credit, consumer and business information assets, meets the industry’s growing demand for an integrated information source. Experian’s advanced decision support services help clients turn this information into improved business results. Experian technology supports several top automotive Web sites, including eBay Motors, CarsDirect.com, CarMax.com and NADAguides.com. For more information on Experian Automotive and its suite of services, visit our Web site at www.experianautomotive.com.
Contact:
Christopher Fielder
Experian Public Relations
1 224 698 8628
christopher.fielder@experian.com E-mail