Friday October 30, 2020, 2:09 PM
CarEdge.com, a provider of analytical tools that auto dealers and leasing companies use to assess the current and future value of vehicles, introduced a vehicle finance calculator that compares a vehicle’s expected depreciation with future balance a car loan.
The company designed the calculator to educate consumers about the risks associated with certain auto loans. CarEdge said the calculator can help consumers stay away from loan structures that will put them in difficult financial situations.
The company also launched its vehicle resale ranking. Rankings highlight which makes and models of vehicles hold their values well, and which don’t. Its five most popular brands for five-year resale value are Subaru, Toyota, Honda, GMC and Jeep.
The company also announced that at the end of October, it will reach its 5 millionth visitor page view, and that pageviews are 100% organic. The company said it hit the milestone well ahead of company and investor expectations.
Visitors to the CarEdge site can now explore tools and resources on its automotive search and listings site, including the ability to shop from over 4 million new and used vehicle listings. They can calculate the payments and loan balances against the expected depreciation of the vehicle.
Users can also receive competitive insurance quotes from multiple auto insurance providers and view resale value rankings for over 200 makes and models of vehicles, ranked from best to worst.
They can also view the expected resale value of over 300 vehicle models. CarEdge said this capability means site visitors can interact with its vehicle resale calculator.
Users can also compare historical vehicle resale results in a single graphical view.
CarEdge said it has seen the interest of vehicle buyers looking to make more informed decisions about their vehicle purchases.
Company president Scott Baker said the vehicle finance calculator was unique, saying, “We really want to make sure people don’t get confused with their car loans.”
Baker added: “We give car buyers a useful tool to educate them about the financial risks of being ‘upside down’ in their loan – an unenviable position that traps people in their loan because they owe more than the value of their car. “