Online Reverse Auction Sites
The emergence of online reverse auction websites and apps has revolutionized the automotive industry. These auction platforms provide a convenient and efficient way for car dealerships to sell cars they no longer want on their dealer lots. Each platform has unique features and benefits, and dealerships and buyers should carefully evaluate their options before choosing a platform.
The best reverse auction websites and apps have revolutionized the automotive industry by making it easier and more efficient for dealerships to sell and buyers to buy cars. By leveraging advanced technology and data analysis, these platforms are helping to create a more transparent, competitive, and efficient marketplace for dealers to save money when they need to sell cars at an auction. Some factors to consider when selecting a reverse auction platform include the ability to add your inventory of vehicles quickly, the level of customer support offered, and the fees and commissions associated with selling on the auction website and app.
Selling Overstock Cars To Auction Companies
It’s common practice for car dealers to sell vehicles to an auction company which can help them free up their capital and resources. . This method is commonly used when a dealership needs to sell a car quickly or when they need to clear out their inventory to make room for new stock.
Selling vehicles to an auction house can benefit dealerships as it provides them with a fast and efficient way to sell cars; it can also be expensive when auction and transportation fees are calculated into the cost.
InfoRide® Reverse Auction App
InfoRide® is a dealership reverse auction service that allows car dealers to put a vehicle up for sale. Our new app connects automotive dealerships with potential buyers to bid on the car in an auction environment. This is the opposite of a traditional auction, where the seller sets a minimum price, and potential buyers bid upwards. In a dealership reverse auction, the sellers set a starting price, and potential buyers submit their bids until the desired bid is reached.
Dealerships Save Money Selling Cars Through InfoRide® Auctions
Dealership reverse auctions benefit automotive dealers as they can sell their vehicles quickly and efficiently while getting the best possible price. This type of auction allows dealerships to reach a broader range of potential buyers, leading to a more competitive bidding environment and ultimately driving up the vehicle’s selling price. It also saves dealerships money on auction fees because InfoRide® charges a flat monthly fee versus a percentage on each car sold.