WEST PALM BEACH, Fla., June 15, 2017 /PRNewswire/ -- AutoBuy, the disruptive car-buying company focused on delivering fresh, high-quality used vehicle inventory to dealers, today announced it has served over 100,000 private car sellers and appraised over one billion dollars in inventory through its bricks and mortars locations and its WEPAYTHEMAX.com website.
AutoBuy, which provides consumers with a hassle-free and value-driven way to sell their vehicles, is on a mission to help dealers close the gap when it comes to acquiring pre-owned inventory, including the hard-to-find 2009-2012 model years. The company is a major supplier to two of the nation's largest auction houses, Manheim and Adesa, and its uniquely high-quality inventory is available to dealerships across the country via simulcast and in-lane sales.
"AutoBuy is the missing link in the pre-owned vehicle equation: dealers know the profitable inventory they need from the data and market research they now have at the tips of their fingers – but, until AutoBuy, this inventory has been difficult to acquire," said Mark Maida, CEO of AutoBuy, and a 40 year veteran of the auto remarketing industry.
The company also announced that the growing number of consumers selling vehicles through AutoBuy's six bricks-and-mortar locations and consumer-facing website, WEPAYTHEMAX.com, has increased its available inventory by over 110% since 2016. All of which is driving significant revenue growth – nearly 70% year over year – and expansion: the company plans to open four new locations in Florida in 2017.
"AutoBuy purchases inventory from consumers for the sole purpose of resale to auto dealers, either directly or at auction," said Anthony Maida, Founder and President of AutoBuy. "This allows us to offer rare, fresh inventory that hasn't been seen on countless pre-owned websites and that needs little to no reconditioning – in fact, the average sale time for our vehicles is 7.5 days."
CARite of Cocoa, Florida has been purchasing vehicles from AutoBuy since its inception, with AutoBuy vehicles representing about 40% of CARite's inventory. "AutoBuy has been a huge part of our success this year. Its vehicles are not only among the highest quality we sell, but they also have a 'time-to-lot' that is half that of any others with drastically reduced reconditioning costs," said Owner Gabriel Peer-Drake Sr. "Plus, because they are freshly purchased from consumers, they lack the drawbacks of other used inventory which often arrives with 'hidden problems' or a history of being unsuccessfully marketed online. AutoBuy vehicles are unique, diverse and unusually low mileage vehicles that I can't buy anywhere else, allowing me to create my own fast-selling vehicle marketplace."
AutoBuy's popularity with consumers is key to its successful model and it is the only company in the auto remarketing industry to have achieved a near-perfect Google review score1. AutoBuy streamlines the often onerous and stressful car-selling experience for private owners with its quick, easy 'come-to-you' mobile appraisal service (at home or office); and, because its pricing is not restricted to local market values, AutoBuy offers consumers a better price for their vehicles, versus other models like CarMax. All of which translates into a frontline-ready pipeline of pre-owned cars for dealers and auction houses.
Manheim Auto Auction in West Palm Beach works with AutoBuy in a program where Manheim focuses on reconditioning the vehicles and AutoBuy on acquiring inventory from consumers. "AutoBuy has truly cracked one of the key auto remarketing challenges by developing a model that is completely unique in the industry and that has helped us grow our incremental sales 172% year over year," said Robert Zakaib, General Manager of West Palm Beach Manheim Auto Auction. "The inventory we receive from AutoBuy is incredibly diverse because they have solved the most complicated part of the vehicle transaction – the trade-in. AutoBuy is able to focus on offering consumers a fair market price which, in turn, means they have a direct funnel of quality vehicles that we can offer to dealers at auction."
Founded in 2010, and based in West Palm Beach, Florida, AutoBuy is a bricks and clicks automotive company that is upending traditional automotive remarketing with a completely unique model that offers auto retailers and auction houses a marketplace of fresh, high-quality used vehicles, without the hassle of reconditioning. With six bricks and mortar locations across Florida and its WEPAYTHEMAX.com website, the company offers consumers a speedy, convenient, safe, and hassle-free way to sell their vehicles for the maximum market price. The company, which has over 100 years of auto remarketing expertise on its team, has appraised over a billion dollars of used vehicle inventory and served over 100,000 private car sellers, and is the only remarketing company to achieve a near perfect Google review score with consumers.
1 Based on over 1000 reviews across six locations
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