DCH Auto Group has announced it is testing the Veretech vehicle pricing and trade-in service from FLD, Inc., on the Internet home page of its 12 New Jersey dealerships.

Veretech is designed to increase dealership profitability by facilitating an online purchase of the vehicle trade-in. Customers get an immediate and guaranteed offer for their trade based on condition and current market pricing.

"Handling the trade-in online will help create a seamless shopping experience for our Internet savvy customers," said Billy Wong, chief financial officer for DCH Auto Group. "Many customers abandon the online shopping process when it comes to the trade because they can't get a firm offer. Veretech provides a firm, fair offer for trade-in vehicles and solves one of the biggest pieces of the online vehicle sales puzzle."

Veretech runs off FLD's proprietary software, which tracks pricing information based on vehicle attributes, geography and current pricing data. To obtain a trade-in offer, shoppers complete Veretech's five-minute questionnaire to determine vehicle make, mileage, location and wear and tear. The customer is given a firm offer for their trade-in vehicle based on their responses.

Veretech was recently tested in a six-week pilot program with Anderson Honda of Palo Alto, Calif. Anderson Honda received 105 sales prospects from the Veretech online trade process. Thirteen percent were converted to sales, and several sales opportunities are still pending, according to John Anderson, president of Anderson Honda. Anderson was so pleased with the results, he is referencing the guaranteed online trade-in in Anderson Honda print and broadcast advertising.

"Car shopper reaction to the Veretech online trade-in service has been extremely positive," said Mike McFall, president of FLD, Inc. "No other online pricing service enables the dealer to make an offer for the vehicle. We apply our expertise in vehicle pricing trends to provide a fair offer for trade-in vehicles. It's a big time-saver for the consumer, and it helps unlock potential sales for car dealers. It's a win-win for everyone."

Based on the Anderson Honda pilot, FLD has made several adjustments to Veretech, according to McFall. For instance:

* Veretech can be linked to various lead management systems such as Sales Enhancer, Compass and DealerPoint.

* Dealers can insert a link to Veretech in their e-mail responses to new Internet prospects that come in from third-party Web sites.

* Dealers can tailor offers based on their own unique inventory needs and market conditions.

* The text in the Veretech module can be altered for each dealer based on their branding strategy or their state's legal requirements.

* Veretech calculates and posts sales tax avoided by trading the vehicle rather than selling it separately. This can save the customer more than $1,000 when buying a new car.

About FLD

FLD, based in Delray Beach, Fla., has more than 21 years of experience in vehicle pricing and remarketing. Founded by Michael Sheinson, the company combines its vehicle pricing expertise with leading-edge technology and logistical operations to help financial institutions, corporations and online car shoppers receive fair market value for off-lease and trade-in vehicles.

About DCH Auto Group

DCH entered the retail automotive industry with the establishment of Paramus Honda in 1977. During the 1980s and 1990s, DCH expanded its automotive holdings by acquiring industry franchises that included Toyota, Nissan, Saturn, Lexus, Volvo, Acura, Lincoln-Mercury, Jaguar and additional Honda dealerships. With these acquisitions, DCH has become a megadealer with 22 franchises in 21 facilities located in New Jersey and California.