Kelley Blue Book ICO
Kelley Blue Book ICO: Kelley Blue Book describes Instant Cash Offer as a digital way for a dealership to acquire vehicles from consumers. It says the process is consistent and transparent.
Kelley Blue Book ICO: Marketplaces & lead providers
The offer tool can sit on a dealer's website, in the showroom or in the service lane.
The process runs in steps. The owner describes the vehicle, gets an offer valid for seven days, and the dealer confirms the vehicle information.
The owner can then apply the offer to a trade or sell the vehicle outright.
Kelley Blue Book lists several tools around the offer. These include Expert Appraisal, a Buying Center and Service Drive Acquisition.
It also describes a Counteroffer feature for prioritizing leads and follow-up services.
A dealer would ask how the offer is calculated and who can edit it. It would also ask what happens when an inspection disagrees with the online description.
Cox Enterprises announced Kelley Blue Book Instant Cash Offer when it launched for consumers. A February 2023 update from Kelley Blue Book added RE-ENGAGE and Buying Signals Plus for dealers.
Cox says the offer takes part in a large share of trade-in transactions.
Service Drive Acquisition works with Xtime, and with vAuto or VinSolutions, according to Kelley Blue Book. The company says the integration comes at no added cost to dealers who already have Instant Cash Offer and those tools.