With its new program offering flat-rate pricing for automatic post-sale inspections, Manheim says that dealers can automatically receive inspections for all wholesale vehicle acquisitions at a “predictable, consistent rate.”
The company said the new program can help increase dealer confidence in purchasing decisions within the wholesale used-vehicle marketplace.
Through the program, Manheim said, dealers can reduce their risks hassle free, and the program helps ensure vehicles bought at auction are in the expected condition.
Manheim experts conduct the inspections at the location and protect dealers against unexpected repair costs. Those costs, Manheim said, can cut into profits and cause delays in turning inventory.
The company also said that because the inspections can be applied to in-lane and digital purchases, that adds trust and transparency to the process. And that happens regardless of which channel a dealer decides to use, Manheim said.
The new program allows dealers to now automatically apply a flat rate to either of Manheim’s two existing types of inspections: Limited Powertrain Inspection (LPI) and Post-Sale Inspection (PSI).
Manheim explains that Auto LPI is designed for older, high-mileage vehicles. Auto LPI focuses on structural, transmission, engine, drivetrain and hybrid/electric battery damage.
The company describes Auto PSI as more comprehensive and said it is geared toward low-mileage vehicles.
Auto PSI covers items such as odometer verification, transmission engagement and function, engine function and operation, ABS and brake function, electrical accessory function and emission control equipment.
The inspections guarantee vehicle components for a specified period of time. Manheim said that if a car item passes during the inspection, but then fails during the guarantee period and costs $500 or more to repair or replace, the defect is eligible for claim resolution with Manheim.
For more information about inspection guarantees, users can visit Manheim’s site and view the Sale Policies section of Manheim’s Marketplace Policies.
The company said the flat-rate inspection offerings are another of its initiatives that it says can help free dealers up to make quick, informed and confident decisions. And Manheim said the dealers can do that through whichever channel works best for them, at a physical sale or one of Manheim’s digital platforms.
“Manheim is constantly looking for ways to instill greater confidence and efficiencies for both buyers and sellers in the wholesale used vehicle marketplace,” Cox Automotive vice president of Assurance Brett Woods said in a news release.
Woods continued, “With our automatic flat-rate pricing on inspections, dealers can spend more time focusing on acquiring the right vehicles and less time worrying about paying for unforeseen repairs.”