The N.A.D.A. Official Used Car Guide Company and Automotive Lease Guide Form Strategic Partnership to Develop Web Referral Program and to Map Data
MCLEAN, Va.–(BUSINESS WIRE)–Oct. 20, 2003
The N.A.D.A. Official Used Car Guide(R) Company (N.A.D.A.), the Recognized Authority in used vehicle values, and Automotive Lease Guide (ALG), the benchmark for residual values, today announced a collaboration that brings together two leaders in the automotive valuation industry.
The N.A.D.A./ALG Web Referral Program grows out of this strategic partnership and encompasses two products: ALG’s Fleet Residual Model and their Online Calculator. This is an unprecedented joining of forces that rounds out the offerings found on nada.com/b2b, making it a one-stop source for vehicle valuations.
When N.A.D.A. online customers purchase an annual agreement for either ALG product promoted through the link, one free month will be added to the end of their contract. After logging on to their accounts at nada.com/b2b, customers will be able to use the promotional button to link to a specific co-branded page on ALG’s site. Plus, during a one month promotional period (October 20th through November 21st), ALG exclusively provides N.A.D.A.’s B2B online customers free access to either their Fleet Residual Model or Online Calculator.
“The N.A.D.A. Official Used Car Guide Company’s B2B web site brings a large audience to ALG’s online Residual Value products,” said John Blair, ALG’s chief executive officer. “We are pleased to be able to be part of the product offerings and look forward to new opportunities with N.A.D.A.”
N.A.D.A., the leader in the new and used car and truck market for over 70 years, will promote residual products to its customers, especially those from the leader in the residual valuation industry. “We are excited to join forces with ALG,” said Scott Lilja, executive director of the N.A.D.A. Official Used Car Guide Company. “Our mission through this partnership is to create additional opportunities for our customers to access the highest quality vehicle data from the leaders in both the used and residual valuation business.”
Specifically designed for the fleet/lease industry, the Fleet Residual Model incorporates market factors that only impact fleet resale values, so that customers can be assured that the values truly reflect what’s occurring in their industry and only their industry. With this product, customers will be able to access fleet residuals of all new vehicles on a bimonthly basis, select monthly terms of any combination between four and 48 months, customize projections with vehicle conditions of clean, average and/or rough, place the annual contract mileage between 18,000 and 45,000 and customize options. The Online Calculator is based on a broader market and can help any industry determine residual values and monthly payment calculations. While using this product, N.A.D.A. online customers can access all ALG editions–either the regional dollar guides for new and used vehicles or the national percentage guide for new vehicles in all ALG regions–add and deduct options, make mileage adjustments, and calculate monthly payments and residuals, with constant updates to the data. The Online Calculator even shows the values for all available terms, from 24 to 72 months.
“The initiatives announced today are only the beginning and we look forward to jointly bringing additional leading-edge solutions to the automotive industry and our mutual clientele,” adds Lilja.
Also in development is an N.A.D.A./ALG Mapping Table(TM) that would link the unique N.A.D.A. vehicle identification code to the ALG vehicle ID. Providing such a customized, integrated product that includes both used vehicle values and residuals would benefit both N.A.D.A. and ALG’s customers by giving them a seamless valuation solution.
“The automotive industry continues to need integrated data solutions especially in the area of automotive finance,” said John Blair, ALG’s chief executive officer. “Our mapping project with the N.A.D.A. Official Used Car Guide Company will provide our mutual customers an opportunity to create efficiencies and reduce mistakes in their data processing.”
About N.A.D.A. Official Used Car Guide(R) Company
The N.A.D.A. Official Used Car Guide(R) Company, a NADASC subsidiary, has provided used vehicle valuation products and services to the auto, finance, fleet/lease, government and insurance industries since 1933. In addition to the N.A.D.A. Official Used Car Guide(R), N.A.D.A. also produces the N.A.D.A. e-Valuator(R) valuation software family, various developer’s tools, the ATD/N.A.D.A. Commercial Truck Guide(R), AuctionNet(R) Online, consumer and business web sites (nadaguides.com and nada.com/b2b), and a full line of appraisal guides, including RVs, boats and motorcycles.
About Automotive Lease Guide
Automotive Lease Guide, a privately held company in Santa Barbara, California, has been the benchmark for residual values in the United States and Canada for over 35 years. ALG’s objective is to provide residual values, analytical data products and consultation to the automotive industry.
COPYRIGHT 2003 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning