Turn Automotive teams with DealNow to help dealers buy cars from private sellers
Screenshot from turnautomotive.com/dealnow.
By subscribing, you agree to receive communications from Auto Remarketing and our partners in accordance with our Privacy Policy. We may share your information with select partners and sponsors who may contact you about their products and services. You may unsubscribe at any time.
Turn Automotive, a driveway appraisal and guaranteed offer platform, said Monday it has partnered with DealNow, whose technology dealers can use to buy vehicles from private sellers.
The partnership is designed to give dealers, “one complete process for buying from the street.”
Dealers can use Turn to inspect and appraise a vehicle without the seller having to visit the store. The seller completes a guided appraisal of their vehicles through their phone via secure text link, and the dealer is sent a TurnVision artificial intelligence-powered condition report.
Turn then puts a guaranteed offer on the car, which is valid for four days. If the dealer buys the car and decides not to keep it, Turn buys the vehicle.
Here’s how Turn’s platform works with DealNow in the buying process.
The dealer sends an Off-Site Appraisal from Turn to the private seller, eventually getting a condition report and value.
Subscribe to Auto Remarketing to stay informed and stay ahead.
By subscribing, you agree to receive communications from Auto Remarketing and our partners in accordance with our Privacy Policy. We may share your information with select partners and sponsors who may contact you about their products and services. You may unsubscribe at any time.
The Turn guaranteed offer sets a floor price. The buy is then run through DealNow, where the dealer is able to verify the seller, clear the title and payoff, and e-sign the documents.
The seller is paid and the payoff goes to the lender.
The dealer can either keep the vehicle to retail or sell it to Turn at the guaranteed offer price, within the four-day windown.
“Dealers have already learned to win the trade in the showroom. Buying from the street works the same way, but only if you’re sure of the car and sure of your exit,” Turn Automotive founder and CEO Marc Steiner said in a news release. “Turn gives dealers both in minutes. With DealNow, they can close the deal right there, safely, and pay the seller before they leave.”
DealNow co-founder and CEO Brad Parker added, “Every private-party buy has two risks: the car and the deal. Turn takes the guesswork out of the car. DealNow takes the risk out of the deal. A dealer can appraise, verify, sign and pay from the driveway, and know their exit before the money moves. That’s what it takes to buy from the street at volume.”
For more information, visit turnautomotive.com/dealnow.
