Lawrenceville, GA (October 21, 2022) – Black Book, a division of Hearst that provides industry-leading data and analytics, including used vehicle valuations and residual value forecast solutions, today announced an expanded data offering for its residual valuations.
Previously, residual values were available for up to 7 model years, forecasting future values from 1-72 month. Black Book has expanded used car residuals to include the most recent 10 model years and now forecasts future values for 1-120 months. This 10-year residual offering provides lenders, dealer groups, insurance companies and fleets the ability to more precisely value their older, longer-term portfolios.
“With used prices continuing to be high, consumers are financing older vehicles. In addition, loan terms are increasing and are currently at a 67-month term for new cars and a 66-month term for used cars, which requires our customers to have a longer outlook,” said Alex Yurchenko, SVP and Chief Data Science Officer at Black Book.
This enhanced residual valuation capability is available upon request. To find out more, visit www.blackbook.com or call 800-554-1026.
About Black Book
Black Book® is a leading provider of automotive vehicle pricing and analytical services that are delivered to industry-qualified users through mobile, online and Data as a Service applications. Since 1955 Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the insight necessary to successfully buy, sell, and lend. Black Book data is published daily by National Auto Research, a Hearst company, and maintains offices in Georgia as well as Toronto, where Canadian Black Book is based. For more information, please visit BlackBook.com or call 800.554.1026
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