WANADAs used Vehicle Trading Network hosts member briefing

WANADAs used Vehicle Trading Network hosts member briefing

WANADAs exclusive online Vehicle Trading Network (VTN) continues to gain members as dealers in the area more and more embrace the online technology as a critical element in their basket of tools for managing used vehicle inventory.

The VTN, which is FREE to WANADA dealer members, is specifically targeted to facilitate the trading of front-line ready used inventory that is either aged or off- brand. WANADA dealer participants receive a 20% to 40% discount on sell and buy fees, depending upon volume, as well as discounts on third party inspection fees.

ADESAOpenLane operates the site for WANADA and hosted a briefing for VTN members this week at its auction facility near Dulles, VA, featuring the companys EVP for customer strategies and analytics, Tom Kontos. Kontos told the dealers that the Internets role in the used vehicle market was becoming the great equalizer in dealer competitiveness and that by 2015 as much as 50% of all wholesale transactions will be via the Internet versus the 20% today. The efficiency you gain by managing your inventory electronically cannot be underestimated, he said.

Those sentiments were echoed by Steve Gerhartz of the Passport dealership group, who noted that as third party condition reports of used vehicles improve, you will see more and more online sales. Its what you would expect, he said, because you know exactly what you are getting when you buy these vehicles and how much of any reconditioning costs you are going to have. Passport regularly posts inventory on the WANADA VTN and is one of its primary users.

WANADA members need only their AuctionNet member number to get registered onto the VTN, which will then automatically download used vehicle inventory (including photos and descriptions) from the dealerships inventory system. The used vehicle manager can then select vehicles for posting. All transaction details/paperwork are handled by ADESAOpenLane and critically, each WANADA VTN member is supported by an ADESAOpenLane staff member who helps facilitate transactions and resolve issues as they arise.

For more information on the WANADA VTN and to register click HERE, or contact WANADAs Billy Painter at 202-237-7200 or bp@wanada.org or ADESAOpenLanes Rick Gayle at 202-236-2270 or rgayle@openlane.com