iPhone app helps dealers maintain profitability when buying vehicles at auction
WEST LAFAYETTE, Ind., Jan. 30, 2012 /PRNewswire-USNewswire/ -- Bidzpin, an iPhone application used by auto dealerships to take the guesswork out of purchasing used vehicles at auction to maintain profitability, has selected the National Automobile Dealers Association (NADA) Used Car Guide to provide pricing information.
"The NADA Used Car Guide is a critical element in the Bidzpin application," said Shawn Foster, president and CEO of Vision Advantage LLC in West Lafayette, Ind. "As the most recognized authority of used vehicle valuations by lenders, the NADA Used Car Guide provides users with pricing information that is most often used in lender calculations."
Bidzpin is currently being marketed to dealers across the country. Foster said the company's clients have a strong focus on used-vehicle inventory management and the growing subprime market.
"The sales outlook in the used vehicle market at both auction and at retail remains strong this year," said Mike Stanton, vice president and chief operating officer of the NADA Used Car Guide. "Bidzpin can rely on vehicle values from the NADA Used Car Guide, which is widely recognized by top lenders in the industry as a trusted source for vehicle pricing information."
"The staff at the NADA Used Car Guide made our integration as simple as possible," Foster added. "From the drawing board to the initial launch, NADA has been with us every step of the way."
Vision Advantage LLC and Allegro Dynamics LLC, based in West Lafayette, Ind., launched Bidzpin in September 2011. The Bidzpin app prevents dealers from making costly mistakes at auction by accurately predicting potential profit or loss based on a lender's program. Bidzpin is the only product on the market that can match a lender program to a car on the auction block before the dealer buys it. By using a series of green, yellow and red traffic lights, Bidzpin takes all the guesswork out of the auction lane. Vision Advantage helps dealers increase profits in all areas of the dealership. For more information or to subscribe for the Bidzpin app, visit www.bidzpin.com.
About the NADA Used Car Guide
NADA Used Car Guide, over its 79-year history, has earned the reputation as the leader in providing accurate and comprehensive vehicle valuation products, services and information to businesses worldwide. NADA collects and analyzes more than 1 million combined wholesale and retail auto-related transaction prices each month. NADA's guidebooks, auction data, analysis and data solutions offer automotive, financial, insurance and government professionals the timely information and reliable solutions they need to make better business decisions. For more information, visit www.nada.com/b2b.
SOURCE NADA Used Car Guide