Editor’s Note: This article was submitted by Maura Duggan, Associate Director of Communications at ACV Auctions, a WANADA Kindred-Line member.
As the automotive wholesale business evolves, digital marketplaces have raised the bar for the way we buy and sell vehicles. Dealers should have very high standards and expectations when using a digital auction. They can expect many features from online wholesale marketplaces that can actually make the transaction experience better than using a physical auction, including a high level of accessibility, convenience, effectiveness, technology, vehicle information, data and end-to-end service.
Here are some things to consider when using online auctions:
- Accessibility and Customization – One of the biggest pros of turning to online wholesale marketplaces is the time it saves because you can log on anywhere – mobile phone or computer. Franchise dealers should make sure they’re taking advantage of the even more time-saving features that certain companies like ACV Auctions offers like Run List, proxy bids, and filtering options by distance, vehicle type, drive train etc.
- Cutting-edge technology and vehicle information – Online auctions can also offer even more visibility into the condition of the vehicle than standing in-person at the lane thanks to technology innovations. ACV Auctions’ detailed condition reports include AMP (audio motor profile) an audio clip of the engine as well as a high quality image of the entire undercarriage thanks to a new, patent-pending tool called Virtual Lift.
- End-to-end services and customer experience – Companies know that buying wholesale vehicles online might take some getting used to, so many are offering guarantees because they stand by the experience. ACV Auctions offers a 14-day satisfaction guarantee to create a no risk first purchase transaction.