Apr 4th, 2022
Cox Automotive Canada launches Kelley Blue Book Instant Cash Offer to help dealers acquire used-vehicle inventory and new customers
MISSISSAUGA, ON (April 4, 2022) – Cox Automotive Canada launches Kelley Blue Book® Instant Cash Offer, available to Canadian retailers to generate instant online offers for customer vehicles. The arrival of Instant Cash Offer is timely in today’s tight used vehicle market, providing a tool to deliver tangible offers immediately to customers and drive transaction ready customers right to the showroom. The Instant Cash Offer solution reduces a dealer’s risk in the process, giving them the option to sell the vehicle to Manheim® Canada for the Kelley Blue Book Instant Cash Offer amount, pending a vehicle condition assessment.
“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 (visited by hundreds of thousands of consumers each month), 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.
About Cox Automotive Canada
Cox Automotive Canada makes buying, selling, owning and using vehicles easier for everyone. The global company has more than 27,000 team members and the family of brands in Canada, including Dealertrack®, Dealer.com®, HomeNet®, Kelley Blue Book®, Manheim®, Modix®, NextGear Capital®, Ready Logistics®, RMS Automotive®, vAuto®, VinSolutions® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. For more information about Cox Automotive Canada, visit coxautoinc.ca .
For media inquiries, please contact:
Public Relations and Media Manager
Cox Automotive Canada