Chrome Introduces Option-Based MSRP and Invoice Pricing Solution for Financial Institutions
PORTLAND, Ore.--Nov. 5, 2004--| Chrome Original Price Service(TM) delivers vehicle prices for each VIN based on installed options |
Chrome Systems Corporation, provider of automotive data, configuration technology and commerce solutions, announced today the release of Chrome Original Price Service(TM), a web interface that enables end users to enter a VIN or specify a year-make-model-style combination and get original pricing and details for the requested vehicle.
Chrome Original Price Service(TM) solves the problem of knowing exactly how much a vehicle should be worth based on the options it carries. Options added at the factory or by the dealer can alter value. Knowing specifically which entertainment system, say, was added can alter the true value of a vehicle. But if you're a lender decisioning a loan or certifying a portfolio, you need to make sure the collateral or asset is accurately described and valued.
End users enter a VIN or a Year-Make-Model combination and receive an online list of all options available for the requested vehicle. Since Chrome's vehicle data is updated weekly, the MSRP and Invoice prices shown are current as well as reliable. For two years in a row, an independent study by CNW Marketing Research concluded that Chrome's vehicle data is the most accurate on the Internet.
Chrome Original Price Service(TM) displays a dynamic check list of the vehicle's options and current prices. As you add or remove options, the prices adjust accordingly, reflecting your changes. At the end of the process, you have a description of an accurately configured and priced vehicle, which you may view on-screen or print as a PDF (portable document file). Additional methods of publishing the information are available as system options.
The combination of Chrome's configuration logic and the list of what is on or could be on a vehicle means the vehicle price does not count the same features more than once. For example, if you select a package that conflicts with a previously selected option, you are alerted and asked to choose which option to add to the vehicle.
"Because of Chrome Original Price Service(TM), lenders no longer have to spend time on the phone rehashing vehicle details with a dealer," said David Mingle, Chrome's president. "Plus, they can now quickly validate those hard-to-read faxed dealer invoices. With the high number of car loans crossing a typical desk today, fast turn-around time is a huge benefit."
This new service is available immediately and will be featured at Booth 3221 during the National Automobile Dealers Association (NADA) 88th Annual Convention and Exposition in New Orleans, Jan. 29, 2005-Feb. 1, 2005.
About Chrome
With more than 13,500 clients, including half of all automotive dealers in the U.S. and Canada, Chrome provides vehicle content, software, technology and services to deliver complete enterprise solutions to all segments of the retail automotive industry. These segments include manufacturers, fleet companies, dealers, Internet sites, and financial institutions. Chrome pioneered the technology behind electronic vehicle configuration with the introduction of PC Carbook(R), and since 1986 has collected, analyzed and enhanced "raw" automotive data from all manufacturers.