Used car valuation is moving online

Printed valuation guides might still be a very familiar sight in UK used car showrooms but, according to Glass’s, a fast-growing proportion of dealers are also now sourcing authoritative valuation data via the web.  Little more than six months after the company’s GlassNet online valuation tool was launched in the UK, already more than 25 per cent of all Glass’s Guide subscribers are now using it on a daily basis.

Over 90 per cent of all dealers in the UK rely on Glass’s data to value used cars, so the rapid uptake of GlassNet, suggests Glass’s, is a key indicator of a significant new digital trend in the UK’s automotive sector.

“Ease of use and accuracy are critical factors driving this shift to web-based used car valuation, especially now that VRM-powered valuations are more readily available,” explains Vik Barodia, Director – Dealer Sector at Glass’s.  “GlassNet offers the simplest method for quickly generating an accurate and tailored valuation for a specific vehicle, and an ever-growing number of dealers are now adopting this new method for valuing cars.”

From April, a new version of GlassNet will be available.  Called GlassNet Unlimited, this new version of the web-based solution enables dealers to value as many cars as they want without incurring any additional charge.  For the typical user, GlassNet Unlimited works out at just over £1 per day – and the solution’s cost-effectiveness only gets better for dealers valuing larger numbers of cars.

GlassNet Unlimited features a VRM look-up facility, which dramatically reduces errors in identifying the specification and age of any given vehicle, maximising valuation accuracy.  Adjustments can quickly be made for the vehicle’s precise mileage, for items of additional optional equipment, and even for light damage – the latter powered by Glass’s Light Damage Estimator.

Another key advantage of GlassNet is its coverage – the system provides data relating to 95 per cent of the UK used vehicle parc, which is 50 per cent more information than can be crammed into the monthly printed Glass’s Guide.

Customer Valuation Reports can also be printed off, detailing in full how each valuation was calculated.  Carrying the dealer’s own details and those of Glass’s, these reports give the customer added reassurance that their part-exchange vehicle has been valued fairly by an independent and authoritative source.

Experian customers can also access the company’s vehicle provenance checks through the GlassNet web interface, further reducing the time taken to process a transaction or prepare a vehicle for sale.

Glass’s will continue developing GlassNet as its online customer base grows.  “We’re delighted that GlassNet is already attracting a wide variety of customers – from large franchised groups to small independent dealers.  Growing numbers of businesses are looking to access valuations and vehicle data via the internet, and Glass’s is evolving its portfolio of vehicle data solutions to support this transition.”

For more information about GlassNet Unlimited, visit glassguide.co.uk/dealer.