Price Digests, the leading asset data provider to the commercial insurance and equipment finance industries, has launched a new solution that brings scale and efficiency to valuing large on-highway truck and trailer fleets. Leveraging industry-trusted verification and valuation data from the Truck Blue Book, Price Digests Fleet Valuation offers a cost-effective and time-saving advantage for modern fleet owners, accountants, and financial professionals.
For Price Digests, fleet valuation is about more than simply providing the industry’s most accurate new and used vehicle values. “Everything starts with data quality,” explains Dan Smith, managing director for Price Digests. “Our analyst team begins each fleet valuation project by cleaning, analyzing, and structuring our client’s list of vehicles. This provides our customers with a clear breakdown of their asset mix.”
Once the VIN verification and data structuring process is complete, the analyst team appends Truck Blue Book’s values for trade-in, wholesale, retail and finance. Relevant adjustments such as mileage and location are taken into account for each individual asset. “By taking the time to structure the data upfront, we’re able to efficiently complete an accurate desktop valuation of our client’s fleet, saving them time and money over the traditional appraisal route,” saidSmith.
Providing insights into the secondary market for commercial trucks
Accounting professionals will immediately recognize the advantages that fleet valuation provides for annual audits and tax preparation. This becomes especially true in light of the stricter lease accounting guidance recently issued by the Financial Accounting Standards Board (FASB). However, this new service was also pioneered with fleet managers and financial analysts in mind.
“When presented at the fleet level, our used commercial truck and trailer values allow professionals to perform advanced analysis for identifying disposition opportunities, residual value forecasting, and secondary market research,” Smith added. “And with the ability to update values as frequently as once per month, our valuation services meet the increasingly demanding needs of our modern customers.”
Building on over a century of innovation
The new fleet valuation offering is the latest innovation from Price Digests; its verification and valuation products have been serving the vehicle industry for over 100 years. “Our customers are looking for better ways to do business. Everyone feels the need to move faster,” Smith said. “Our ability to combine the latest analytical methods with deep industry expertise makes Price Digests the perfect offering for our customers who are hungry to leverage innovative new solutions. Fleet valuation is a great example of that collaboration.”
To learn more about Price Digests Fleet Valuation services visit: https://pricedigests.com/fleet-valuation/
About Price Digests
For over 100 years, Price Digests has served the vehicle data needs of the insurance, finance, government, and dealer markets through its portfolio of VIN Decoding, Specs and Market Value data solutions for the commercial truck, passenger vehicle, marine, powersport, and recreational vehicle asset classes. Our data solutions are valuable tools in decisions surrounding the purchase, valuation, operation, and risk mitigation of assets.
About Informa
Price Digests is part of Informa, the international business intelligence, academic publishing, knowledge and events group. Informa serves commercial, professional and academic communities, helping them connect and learn, and creating and providing access to content and intelligence that helps people and businesses work smarter and make better decisions faster. Informa publishes Fleet Owner.
Informa has over 7,500 colleagues in more than 20 countries and a presence in all major geographies. It is listed on the London Stock Exchange and is a member of the FTSE 100.
