When wholesale vehicle buyers feel they did not get what they pay for, they often must go through a cumbersome process to return the vehicle.
With a new TradeRev pilot program, buyers can now return vehicles, with “no questions asked.”
TradeRev, a business unit of KAR Auction Services, has been piloting what it describes as an industry-first return policy since May.
“With No Questions Asked, we’re making things as simple as possible for buyers — you don’t like the car, you get your money back,” said TradeRev executive vice president of global operations Keith Crerar.
Through the pilot program, buyers can notify TradeRev within two business days of vehicle delivery to use the return policy. At that time, TradeRev refunds the purchase price less any initial transport charges and buy fee.
TradeReady vehicles (inspected by TradeRev), as well as as-is vehicles, are the eligible vehicles for the program.
The company will continue the return policy as a pilot, with plans to roll out availability to all users over the next year.
TradeRev president Becca Polak said in a news release that TradeRev is working to improve the user experience, eliminate friction and build customer trust.
“When buyers feel they didn’t get what they paid for, they enter an arbitration process that involves the seller and can take time,” Polak said. “For dealers, time is money. Our No Questions Asked return policy helps dealers buy with confidence, knowing they can return a vehicle if it’s not what they expected and get their money back quickly.”
“The policy aims to remove all potential pain points for the buyer and is a prime example of how TradeRev is standing behind its commitment to make buying fast, fair and easy for dealers,” Crerar said.