Canadian Black Book: Validated Value lets shoppers scan and learn
Canadian Black Book is expanding its conversation with consumers with the launch of its unique “Validated Value” program, which will affix special stickers on used vehicles that consumers can scan with their smart phones to confirm the vehicle’s acclaimed value through CBB.
The goal is to give car shoppers a better comprehension of the price on the windshield, since no two vehicles, even identical models, are exactly the same when they’re pre-owned vehicles with distinct ownership histories.
Canadian Black Book unveiled its new used-vehicle “seal of approval” at the Canadian International AutoShow on Thursday.
The validation program will initially involve cars and trucks sold through certified pre-owned (CPO) programs operated by franchise dealers. Kia Canada is the first manufacturer to sign on, although the special stickers with the phone-friendly QR codes are still in the works.
“We want to give context to the CPO price and give people a better understanding of the process. They receive fair value assurance, so that they can make an informed buying decision,” says Bailey. “But it doesn’t replace what the manufacturer is already doing.”
The concept was born out of a concern that CPO prices quoted by branded dealers are viewed as too high by many shoppers and they often fail to see the value in the CPO program.
“Certified programs are still fairly new to consumers. We wanted to help bring comfort to buyers contemplating a certified pre-owned vehicle that has been reconditioned to stringent factory standards, since CPO vehicles earn a higher Black Book value,” says Bailey.
QR codes on Validated Value stickers will link back to individual vehicle listings in a national database maintained by Roy Speed & Ross, a Canadian vehicle registration, tracking solution and dealer systems supplier contracted by CBB.
Bailey says CBB developed the concept in-house. He envisions the service will be adopted by more manufacturers’ CPO programs in the near future. Eventually, CBB plans to work with established independent used-vehicle dealers who are seeking validation from a third-party authority.