The WANADA Vehicle Trading Network is off to a running start

The WANADA Vehicle Trading Network is off to a running start

The WANADA Vehicle Trading Network (VTN), a unique online auction site for WANADA dealer members to exchange aged, off-brand models as well as wholesale units at significantly reduced costs, launched 10 days ago, and, is up, operating and selling cars.

We are very pleased with how this one-of-a-kind member service has come together and is now happening, said John ODonnell, WANADAs executive vice president. This network has the potential to save member dealers significant money in their wholesaling and used car operations, and we are working diligently to get the entire dealer membership familiar with the site, he added.

WANADAs partner on the VTN is the online trading company OPENLANE, which many area dealers already use to source manufacturer off-lease vehicles.

To sell vehicles, the WANADA VTN will automatically upload a members used vehicle inventory on a daily basis and allow them to price, configure and post aged, off brand and/or wholesale units to the private network for set periods of time. Thereafter, the units are automatically made available to OPENLANEs national audience, ensuring WANADA dealers get maximum return for each unit.

Buying inventory units is straightforward, too, by simply logging on to the WANADA VTN. The system is available 24/7 and accessible from anywhere. The VTN also offers post-sale settlement, third-party vehicle inspection and industry standard dispute resolution through its partnership with OPENLANE.

The cost of buying and selling on the WANADA VTN is well below usual online auction/wholesaling fees, whether members are buying/selling locally or nationally. WANADA members are also eligible for numerous incentives to use the network.

Our aim is to virtually eliminate the need for dealer members to physically take vehicles to the auction and thereby greatly reduce wholesaling costs, ODonnell said.

The WANADA VTN is supported by OPENLANEs regional service team, as well as dedicated individual dealer assistance staff at the OPENLANE home office. These VTN service providers will assist in all facets of inventory management to ensure vehicles sell quickly and for the maximum return, while affording dealers the opportunity to acquire the right vehicles for retailing.

There is no cost to register and list inventory! WANADA urges its members to take advantage of this unique service and unprecedented opportunity to improve the profitability of their used vehicle operations.

To register your dealership on the WANADA VTN, go to: www.wanadaVTN.com or contact Barbi Nix at bnix@openlane.com or (866) 969-0321 ext. 5787. For more information on the WANADA VTN, contact Jake Kelderman at: 202-237-7200 or jak@wanada.org.