KAR Offers Incentives to Use TradeRev Featured
23 July 2017
KAR Auction Services Inc. announced a series of product offerings that integrate the company’s diverse capabilities with the TradeRev digital mobile marketplace. KAR owns a 50 percent stake in TradeRev, a mobile app and desktop solution that facilitates real-time, live-bidding dealer-to-dealer vehicle auctions. This first wave of integrated product and service offerings includes free and/or heavily discounted transportation services, special floor plan financing credits and offerings, and full integration of TradeRev’s mobile auction app with ADESA’s physical, digital and online auction marketplaces. As part of this initiative, KAR’s CarsArrive Network business unit now offers TradeRev dealers free transport for any vehicle shipped from the state of New York, and flat $150transportation fee for shipments from all other states. These prices represent 50 percent to 80 percent dealer savings over typical wholesale transport options and will last through 2017.KAR’s Automotive Finance Corp. (AFC) business unit is offering, subject to variousconditions, no floor plan fees on the first five vehicles purchased on the TradeRev platform and floored with AFC on the date of purchase. Concurrently, TradeRev is offering a $150 discounted buy fee for those five units to be credited to the dealer’s AFC account. Additional financing promotions and specials are planned for both new and existing TradeRev and AFC customers and will be released throughout the remainder of the year.TradeRev and KAR’s ADESA business unit have also partnered to launch the “360 Advantage Program” for dealers. Beginning at the dealership, a TradeRev inspection is completed in under 10 minutes and the vehicle is launched on TradeRev to participating dealers nationwide. The ADESA Logistics Team will transport any unsold cars to an ADESA location within 24 hours where vehicles receive a full condition report and are listed on ADESA DealerBlock. Any unsold vehicles will then run at an ADESA physical auction.Dealers in the U.S. and Canada will also see an increased presence of TradeRev at ADESA’s physical auction locations. TradeRev sales and support staff will be there to enroll new dealers, answer dealer questions, and provide tips on how to launch and participate in TradeRev auctions.