Dealer-to-dealer digital auction platform TradeRev continues its work to help accelerate the dealer buying and selling experience, or in the company’s words, help dealers “move metal” faster and easier.
With its MOVE METAL services, the company says users will see shorter auctions, flat fee transportation and streamlined registration.
TradeRev announced that beginning on Feb. 5 it will unveil various platform enhancements such as shortening its auction timer to speed up dealer transactions on the MOVE METAL platform. The new transaction times will be a 45-minute auction and 15-minute closing period for buyers and sellers to finalize sale details, which is a time reduction from the previous one-hour auction plus one-hour closing period.
TradeRev also announced its 2019 flat-fee transportation rates for all U.S.-based dealers. The company says it will offer heavily discounted rates well below retail transports. That along with the ability to move vehicles from coast to coast means dealers have virtual access to what TradeRev describes as a “highly active national marketplace” with thousands of other dealers.
The flat-fee transportation program is facilitated in partnership with CarsArrive Network, a TradeRev sister company under TradeRev parent, KAR Auction Services. TradeRev’s streamlined registration process will also help new dealers become TradeRev partners, and transactions can start in minutes rather than days or weeks, according to the company.
“TradeRev was built by dealers for dealers, and we’re constantly working with our dealer partners to make our marketplace as fast, fair and easy as possible,” said Becca Polak, TradeRev president and chief legal officer for KAR Auction Services, in a news release. “Time is a dealer’s most valuable commodity, and we know every auction minute saved is a minute dealers can spend fostering leads and closing retail sales. By reducing the TradeRev auction experience to a single hour, buyers will have more certainty on cars they’ve won, and sellers can move inventory off the lot faster than ever.”
The company also unveiled an accelerated registration process that allows new dealers to register and begin transacting in as little as 10 minutes.
Dealers were able to demo TradeRev and sign up through TradeRev’s accelerated registration at the recent NADA Show. Once registered, dealers were able to buy and sell live in the booth and experience TradeRev’s condition report imaging technology powered by H.