Table of Contents
1. Overview
2. Calculations
3. Available Wholesale Values
4. Can Modal Use Another Data Source Besides KBB?
5. Changelog
Overview
Modal uses Kelley Blue Book's Lending Value by default in Checkout to calculate wholesale values on pre-owned vehicles.
Calculations
New vehicles:
If a customer is placing an order for a new vehicle, then the invoice price from the inventory feed is used for the wholesale value. If the invoice price is missing from the inventory feed, then MSRP is used for the wholesale value.
Pre-owned vehicles:
If a customer is placing an order for a pre-owned vehicle, Modal will first check if there is a valid wholesale amount from the inventory feed. If a wholesale amount does not exist then Modal will use the following variables to calculate the wholesale value with KBB or NADA's API integration.
- VIN
- Mileage
- Dealership Zipcode
Please note that any KBB|NADA derived wholesale/lending value does not include accessories, packages and/or factory installed options in the evaluation.
Available Wholesale Values:
- KBB:Lending Value
- KBB:Typical Listing Price
- KBB:Trade-In Value Fair
- KBB:Trade-In Value Good
- KBB:Trade-In Value Excellent
- KBB:Auction Value Fair
- KBB:Auction Value Good
- KBB:Auction Value Excellent
- KBB:Trade-In Value Very Good
- KBB:Auction Value Very Good
- NADA:Adjusted Clean Retail
- NADA:Adjusted Loan
- NADA:Adjusted Clean Trade
- NADA:Adjusted Average Trade
- NADA:Adjusted Rough Trade
- NADA:Base Clean Retail
- NADA: Base Loan
- NADA: Base Clean Trade
- NADA:Base Average Trade
Can Modal Use Another Data Source Besides KBB?
Yes, Modal can use NADA to calculate wholesale values, however, an additional integration cost to your dealership may be incurred.
Changelog
- 1.0 / December 6, 2021: Initial release.
- 1.1 / March 10, 2022: Modal now prefers inventory wholesale amount over KBB|NADA. Modal now also supports NADA.
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