Cox Automotive Canada Launches Kelley Blue Book Instant Cash Offer
Cox Automotive Canada announced the launch of Kelley Blue Book Instant Cash Offer for Canadian retailers to generate instant online offers for customer vehicles.
“Customers today want to do as much from the comfort of their homes as they can, including finding out what they can get for their vehicles should they decide to trade-in or sell,” said Brian Murphy, managing director, Kelley Blue Book, Cox Automotive Canada. “Kelley Blue Book Instant Cash Offer puts customers in the driver seat, while reducing a dealer’s inventory acquisition cost and time spent on challenging price negotiations for vehicles. Kelley Blue Book instills confidence in the appraisal process for both customers and dealers.”
Kelley Blue Book has operated Instant Cash Offer in the United States for over six years. While the tool introduced for Canada is customized for the Canadian market, it borrows and builds from the successful U.S. experience. Kelley Blue Book was founded in 1926 and expanded to Canada in 2019.
In addition to Instant Cash Offer, the dedicated Kelley Blue Book Canada team operates the successful KBB.ca website, MarketLens vehicle valuation tool, and professional valuation and analytical services including residual value forecasting for the industry.
The Instant Cash Offer process
Customers will have three routes to receive an Instant Cash Offer:
- Online: visit the Instant Cash Offer webpage of a participating dealer
- In-person: visit a participating dealership
- Available summer 2022, customers can receive an offer on the KBB.ca website
The customer (and/or dealership) completes a questionnaire assessing the vehicle condition. Customers receive a Kelley Blue Book Instant Cash Offer within minutes that is valid for seven days. The customer brings the vehicle to the dealer to redeem the offer. Dealers then have seven days to decide whether to retail or wholesale the vehicle themselves or sell the vehicle to Manheim Canada for the full Instant Cash Offer amount.