Retail My Ride launches new program to expand dealers’ vehicle sourcing options
Retail My Ride, an online network of independent retail consignment dealerships, has launched Bulk Retail Consignment, a program designed to provide select auto dealerships with exclusive access to institutional sellers’ best vehicles.
Retail My Ride said it has partnered with a large consignor company to sell its national clients’ late-model cars, trucks and SUVs on consignment in Texas, Georgia and Florida.
Retail My Ride and its partner expect the list of states, the number of institutional sellers and the volume of eligible retail consignment vehicles to grow dramatically in 2024, the company said in a news release.
“Our efforts continue to be laser-focused on building and supporting our online community to bring all types of automotive sellers – private and now institutional – and retail consignment dealerships together,” Retail My Ride CEO and founder Jim Horan said in a news release, “A platform where retail consignment can become the preferred option for millions of auto, RV and motorcycle sellers, and a go-to source of quality free inventory for participating dealerships in 48 states.
“We are very pleased with the response we’re getting from our private sellers, institutional sellers and our network of dealerships, who appreciate the value our unique retail consignment sourcing platform provides.”
The company said its Bulk Retail Consignment program provides:
— Above average vehicle condition grades.
— Vehicles available for selection weekly.
— Selected vehicles shipped to dealers free of charge.
— Authorized dealer listing price at “great deal” rating.
— Average retail value $18,000.
— Average turn rate 18-20 days.
— Earn a flat “success fee” per vehicle sold.
— Earn revenue on approved in-house reconditioning/repairs.
— Keep 100% of doc fee, F&I income and trade-in revenue.