“Clicks-to-Bricks” Express Retail Platform will now allow provide instant cash offers on vehicles to consumers who shop online or at the dealership
DALLAS, Texas, August 30, 2017 — Pearl Technology Holdings, LLC, (Pearl) (www.pearlsolutions.com) today announced it has entered into an agreement with Kelley Blue Book (www.kbb.com) to integrate the Kelley Blue Book™ Instant Cash Offer into its ShowroomXpress (SRX) express retail platform. This will allow consumers to get a real instant cash offer for their vehicle when shopping through the SRX dynamic retail widget.
“Adding the Kelley Blue Book Instant Cash Offer to our ShowroomXpress experience will enable dealers to change the way they retail cars with a few lines of code,” said Bruce Thompson, CEO and founder of Pearl Technology Holdings, LLC. “The added functionality of Kelley Blue Book Instant Cash Offer will be transformative to dealers wanting to offer a different online and in-store express retail experience. While we believe our dynamic widget is the most powerful automotive express retail initiative in the industry, the missing element was a credible and instant offer for a consumer’s vehicle. Instant Cash Offer provides that with the added benefit of the trusted Kelley Blue Book brand. We are very excited to be working with Kelley Blue Book on what we believe is an inevitable shift in the way vehicles are sold in the U.S.,” Thompson continued.
ShowroomXpress is the first tool that displays six real payments from any lender to consumers in fewer than three seconds. Both purchase and lease offers are displayed, allowing the consumer to configure their transaction and pick the ideal payment they want. The system is a real-time mobile desking tool. Payments are calculated to the dollar and integrated into the dealer’s finance and insurance screens on the fly. Every transaction detail is calculated, from dealer finance profit, to sales tax, doc fees, incentives, license fees and more. Customers or sales personnel can toggle terms and payment changes instantly based on regional lender programs.
“One of the most important elements of any vehicle transaction is the value of the trade-in,” commented Damon Bennett, senior director of syndication for Kelley Blue Book. “Monthly payment, taxes and equity are factors directly impacted by the value of a customer’s trade-in vehicle. The challenge with any customer shopping for a real payment online is determining a real amount for the current vehicle that the dealer will honor. Kelley Blue Book Instant Cash Offer allows the customer to answer questions about their vehicle and based on their responses, generates a real cash offer the consumer can apply to another vehicle or simply use to sell the vehicle. This eliminates the traditional trade-in process pain points, allowing a seamless progression within Pearl’s SRX platform. Pearl is on the cutting edge with its ShowroomXpress system, and we are very pleased to be working with the Pearl team on this initiative,” Bennett added.
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With the formation of American Auto Exchange (AAX) in 2001, auto industry entrepreneur Bruce Thompson became widely known as the creator of the “used car inventory management” space. He went on to start RedBumper, LLC in 2010, which is also primarily focused on “used car inventory management.” RedBumper’s intellectual property was acquired by CDK Global in September 2014. At that time, Thompson formed a new holding company, Pearl Technology Holdings, LLC, created to be an automotive technology incubator. The company’s mission is to create and deliver innovative new tools that have an impact on the industry. Pearl has launched seven subsidiaries: NewCar IQ, LLC; VehicleXchange, LLC; eCarTag, LLC; Trade-In Concierge, LLC, Pearl Proximity, LLC, Pearl Intercept, LLC and ShowroomXpress, LLC. NewCarIQ, LLC was acquired by CDK Global in January 2016.
About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Fair Purchase Price, which reports what others are paying for new and used cars this week. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book Co., Inc. is a Cox Automotive™ brand.
About Cox Automotive
Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, software, financial, wholesale and e-commerce solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, vAuto®, Xtime® and a host of other brands. The global company has 34,000 team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues exceeding $20 billion and approximately 60,000 employees. Cox Enterprises’ other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.
Author: Digital Dealer
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