NORTHBROOK, IL – Donlen Corp. has launched a new vehicle remarketing system, utilizing a large industry data source to give customers up-to-date auction sale data at the click of a button.
"This new system will soon allow customers to generate instant Fair Market Value (FMV) estimates based on actual sales at auctions around the country. The system will also provide Donlen’s customers the opportunity to easily benchmark their actual vehicle sales against one of the largest databases of its kind,” said Layne Weber, vice president for vehicle remarketing.
A full year's worth of data – more than 6.5 million sale records – forms the basis for the enhanced system. Customers will enter a mileage amount for a specific vehicle to generate a FMV report, and all FMVs generated will report an average dollar value and will show the number of similar vehicles sold in the past 90 days and the average mileage for those vehicles.
In addition, the new vehicle remarketing system provides Donlen and its customers the ability to generate FMVs for an entire lease portfolio and compare the FMV against a book value. This unique capability to perform an ongoing lease portfolio analysis will assist Donlen and its customers in determining the optimum vehicle cycling time. Donlen's Remarketing team will begin using the system immediately before launching the customer interface September 1.
"Integrating the largest data source in the industry into the remarketing process enhances our customer interaction," Weber said. "Because we individually price each vehicle, we recognized this as an opportunity to automate a time-consuming part of the process, and put the power in the hands of our customers."