PLANO, Texas, Aug. 6, 2019 /PRNewswire/ -- Aug. 6, 2019 – Today's launch of CarOfferTM, the retail automotive industry's first instant wholesale vehicle trade platform, represents a new approach to acquiring and selling pre-owned inventory immediately and profitably. CarOffer's platform is designed to address today's most pressing challenges surrounding appraisal win ratios, aging inventories, acquisition and selling of used vehicle inventory, and helping dealers reverse the current margin compression trends without the burden of monthly subscription fees or contracts. More than 1,000 dealership locations have already committed to utilizing the CarOffer platform.
The CarOffer technology suite includes TradeGradeTM, a real-time, integrated "point of appraisal" bidding platform and 24/7 automated inventory offers, which are available for instant liquidation and include an optional 45-day guaranteed sell offer. The system works in conjunction with the dealer's current inventory management system. CarOffer's sophisticated and completely integrated tool suite can replace as many as six fee-based subscription products, helping to save dealers significant expense and time. The platform also enables dealers to acquire retail-ready, up-stream inventory with confidence and discipline via CarOffer's patent pending dealer-to-dealer transaction marketplace known as Matrix. It is a revolutionary new way to both acquire and liquidate inventory instantly.
CarOffer is the brainchild of one of the recognized pioneers in pre-owned inventory management software, Bruce Thompson and team, who originally introduced modern day inventory management tools to the industry with American Auto Exchange (AAX) in 2001 followed by several other inventory-focused companies.
CarOffer has created an entirely new way for dealers to win more trades, acquire more used inventory, and sell more cars for less cost. For dealerships, CarOffer:
- eliminates the guesswork (and much of the risk) of valuing vehicles with instant "on-the-money" value to win more appraisal offers;
- significantly reduces the cost of acquiring and disposing of inventory;
- virtually eliminates open-ended risk of aging inventory, saving hundreds of thousands of dollars annually;
- enables dealers to instantly find buy-ready customers and locate exactly what they want;
- gives dealers an exit ramp from the "race-to-the-bottom" pricing strategy that is plaguing the industry and crushing margins;
- reduces reconditioning time and expense dramatically;
- simplifies inventory acquisition; and
- has no subscription fee, in support of higher dealer margins.
"CarOffer enables dealers to trade for twice as many vehicles with virtually no risk while also eliminating all aged units over 45 days. Obviously, this means many more new and used retail sales. In so doing, the average dealer will realize significant dollars to the bottom line," says Bruce Thompson, CarOffer founder and CEO. "Trade-ins are as much as 150% more profitable and turn in half the time as purchased vehicles. CarOffer is the solution that will enable dealers to switch from the current acquisition and pricing strategies that have decimated pre-owned margins over the last decade. Everyone is making money except the dealer, and it's our intent to turn the tables," Thompson adds.
CarOffer Key Features
- A National Marketplace—National buyers competing for used inventory with "on-the-money" offers at the point of appraisal as well as a 45-day guaranteed buyback offer
- Retail-Ready Inventory—New sources of inventory ready for the front-line sooner
- No-Worry Acquisition– Set buy specifications and the exchange platform does the rest
- Faster Inventory Turns—Clear aged inventory faster and for lower cost
- Daily Bids—Receive bids on inventory daily; exercise daily offers anytime
- Dramatically Lower Costs—Auction fees cut by 2/3
- Confident Appraisals—Instant backstop bids and 45-day guaranteed buyback offers
- Win More Trades—Average dealer will double their appraisal close ratio
- Eliminate Subscriptions—Full-featured platform lets the average dealer eliminate $150K+ in subscription fees and replace multiple vendors with one simple-to-use integrated solution.
- Deliver What Customers Want—Predictive marketing system built in
CarOffer is retail automotive's first instant trade platform for modern day retailing that helps dealers trade more, buy more and make more. The CarOffer platform leverages the power of national scale, data and technology to help dealers acquire and exchange used inventory more profitably. The power behind CarOffer is a marketplace with national participation competing for used vehicle inventory by providing "on the money" offers at the point of appraisal along with a future 45-day guaranteed buyback offer. Developed by one of the recognized pioneers in inventory management software, Bruce Thompson, the CarOffer platform is a singular seamless solution that can replace numerous service providers commonly used by dealerships, delivering significant instant savings and efficiencies.
For more information, please visit www.caroffer.com.