The relationship connecting the National Independent Automobile Dealers Association and KAR Auction Services is now even stronger.
On Wednesday, NIADA named Automotive Finance Corp. and TradeRev as Diamond-level National Corporate Partners — the association’s highest level of corporate affiliation.
AFC provides independent vehicle dealers a portfolio of trusted, flexible inventory financing and business solutions from more than 130 branch locations across the U.S. and Canada.
TradeRev is one of North America’s most advanced and longest-running digital mobile-app live auction platform for dealer-to-dealer transactions.
“TradeRev and AFC provide premier services that are directly aligned with the success of our independent dealer members and the future of our industry,” NIADA chief executive officer Steve Jordan said.
“These two businesses have a proven track record of delivering innovative products and services to help dealers quickly and conveniently source and finance inventory. And with the support of KAR Auction Services, we know they are here for our members — and here to stay,” Jordan continued.
Over the past year, NIADA highlighted TradeRev and AFC have collaborated to bring independent dealers first-of-their-kind promotions such as no floorplan fees and no-interest financing for 45 days for vehicles bought on TradeRev.
With the release of TradeRev 4.0, TradeRev became the first and only digital auction platform to introduce real-time AFC credit line availability displayed in-app, and fully integrated one-click AFC financing at checkout.
The partnership follows TradeRev’s recent unveiling of H, its artificial intelligence capabilities that combine the power of KAR’s data and TradeRev’s machine learning and predictive analytics to deliver clear, actionable information to dealers.
“NIADA dealers are smart, tech savvy and always looking for next-gen technology solutions to help their businesses grow and succeed,” KAR chairman and chief executive officer Jim Hallett said. “We are proud to partner with NIADA and to continue serving its strong membership.
“With a coast-to-coast presence and strong pipeline of innovation, TradeRev and AFC will help keep dealers moving and their inventory moving even faster,” Hallett continued. “Whether you’re an NIADA member in Buffalo, Los Angeles, Tampa or Dallas — you can count on TradeRev and AFC to expand your marketplace and extend your floorplan buying power.”
AFC serves the NIADA community in the retail and wholesale automotive space, as well as serving RV, power sports and commercial truck dealers, salvage buyers and daily rental operators, offering floor planning to independent vehicle dealers.
AFC provides liquidity, bandwidth, industry expertise and credibility and is accepted by more than 1,000 inventory sources.
TradeRev is a mobile app offering NIADA members fast, convenient access to high-quality trade-in and commercial consignment inventory before it reaches wholesale physical auctions. The TradeRev mobile app mimics the physical auction setting, enabling dealers to launch and participate in live, one-hour auctions directly from their smartphone, tablet or desktop.
Winning TradeRev bidders can complete the entire transaction within the app, including optional inspection, title and arbitration services, and AFC financing and transportation through CarsArrive Network, another KAR business unit.