AppraisalPRO Launches from Stealth, Arming Car Dealers with the Power of Big Data to Spot Lemons, Devalue Trades and Win More Deals

Built atop a 5-million-vehicle database and created by FIXD Automotive's founders, AppraisalPRO is poised to become an industry powerhouse, leveraging AI to give car dealers immediate repair estimates tailored to a vehicle's make, mileage, model, trim, and zip code.

ATLANTA, June 26, 2024 /PRNewswire/ -- AppraisalPRO officially launched today, emerging from stealth laser-focused on revolutionizing the vehicle appraisal industry with AI trained on its vast proprietary database and designed to provide new and used car dealers nationwide with the market's most powerful tool for optimizing trade-in values.

Created by the founders of FIXD Automotive—whose sensors have scanned more than 5 million unique vehicles over the last decade—AppraisalPRO's wireless OBD-II scanner and appraisal system scans vehicles for 20,000 mechanical problems, looking for hidden issues and then delivering dealers precise, immediate repair estimates specific to their year, make, mileage, model, trim and geographic location allowing dealers to accurately price their trade-ins.

"We've created the most powerful trade-in tool car dealers have ever had," said FIXD Co-founder and CEO John Gattuso, who is creating AppraisalPRO as a standalone brand. "After a decade in the automotive diagnostics industry, my team and I recognized a large, unsolved problem: dealers can already scan vehicles for mechanical issues—that is, Diagnostic Trouble Codes—but they haven't been able to quickly translate that blizzard of codes into reliable repair costs. That matters. People hide problems and dealers get stuck with lemons all the time."

"That's where AppraisalPRO comes in," said Frederick Grimm, who co-founded FIXD with Mr. Gattuso in 2014. "We remove the guesswork. We compare a vehicle's On-Board Diagnostic data against the 130 million OBD scans we've already done at our other company, FIXD, then use our AI model to give a dealer the most likely repair costs for those Diagnostic Trouble Codes."

Here are key details about AppraisalPRO's scanning and appraisal system:

• Thorough Issue Detection: AppraisalPRO's portable, wireless, Bluetooth-enabled OBD2 sensor scrutinizes a vehicle's powertrain, body, chassis, and network modules for thousands of hidden mechanical issues.
• Accurate Cost Estimates: Using FIXD's database of 130 million scans, it provides precise repair costs instantly, informing purchasing decisions for buyers and sellers. ASE-certified master technicians constantly audit the results to enhance accuracy.
• Comprehensive Condition Reports: Subscribers get a single, detailed report including mechanical and non-mechanical costs–that is, breakdowns of expected parts and labor expenses–simplifying trade-in negotiations.
• Lemon Prevention: AppraisalPRO detects miles since last DTC reset, highlights recent resets, helping dealers avoid overpaying for cars with hidden problems.
• Affordable subscription: For less than $500 per month per rooftop, auto dealers receive AppraisalPRO's OBD2 scanner free of charge and can scan an unlimited number of vehicles.

Over 2,000 appraisers at car dealerships across the US have been using AppraisalPRO's system since February; and their daily feedback has helped perfect its system as it exits stealth.

"AppraisalPRO has revolutionized our customer interactions at Cedar City Motor Company," said Kache White, a used car manager at the Utah-based dealership. "The data scanning system enables us to conduct more professional and transparent conversations with our clients. By using the AppraisalPRO condition report, I can effectively address any issues with their vehicle right from the start, ensuring we provide an accurate and fair valuation. It's a game-changer."

Two market trends provide AppraisalPRO significant tailwinds as it launches. Early this year, a Cox Automotive report warned that dealerships will continue facing challenges to efficiently protect their profit margins. Then in May, S&P Global Mobility published data showing that—for the sixth straight year—the average age of vehicles on American roads has risen, now at 12.5 years. S&P predicts that the age of cars will continue growing until, at least, 2028.

"Our product is perfectly positioned to capitalize on these trends," said Cory Hewett, director of enterprise initiatives at FIXD who will now spearhead AppraisalPRO's growth. "It's as simple as this: Older cars mean more mechanical problems; and if dealers aren't accurately assessing risk when sellers drive onto their lots, they're jeopardizing their profits. That's the bad news. Here's the good: AppraisalPRO is now here to help them."

https://www.getappraisalpro.com/ 

About AppraisalPRO

AppraisalPRO, a FIXD Automotive brand, leverages big data and AI to empower new and used car dealers to spot lemons, devalue trades and win more deals. Launched in June 2024 by FIXD Founders John Gattuso and Frederick Grimm, AppraisalPRO utilizes its parent company's detailed scans of 5 million vehicles to provide US-based dealers with immediate, precise repair cost estimates for thousands of mechanical defects, uniquely tailored to the make, model, year, trim and geographic location of used vehicles. Its free sensor and subscription-based software system help dealers identify hidden reconditioning needs to optimize trade-in values, increase profitability, and ensure fair deals for customers. For more information, visit https://www.getappraisalpro.com/.

Media Contact:
Chelsea Hudson
646-979-9060
[email protected] 

SOURCE AppraisalPRO

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