How Does Modal Calculate Wholesale Value?

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 use the following variables to calculate the wholesale value with KBB's API integration.

• VIN
• Mileage
• Dealership Zipcode

If KBB's API fails to return a valid value, then the wholesale value from the inventory feed is used.

Please note that any KBB derived wholesale/lending value does not include accessories, packages and/or factory installed options in the evaluation.

Available Wholesale Values:

Can Modal Use Another Data Source Besides KBB?

Currently Modal only supports wholesale data from KBB. Please talk to your Modal Customer Success Manager to discuss potential future integrations.

Changelog

• 1.0 / December 6, 2021: Initial release.