When we started BacklotCars, we didn’t just want to create another online auction, our goal was to offer dealers something different. Just like Apple changed the way we look at mobile phones, we set out to do the same with wholesale. To do that, we reimagined digital wholesale by creating a 24/7 bid-ask marketplace that (unlike timed auctions) gives dealers the flexibility to transact from anywhere, around the clock and most importantly, on their schedule.
By seamlessly fitting in with our dealers’ workflow, BacklotCars can produce greater efficiency and ultimately drive more success for our customers. But what does BacklotCars’ bid-ask marketplace mean for buyers, and what does it mean for sellers?
From a buyer’s perspective, the bid-ask environment allows you to browse, research and digest inventory at your own pace so you can make the most informed decisions possible. BacklotCars lists thousands of vehicles a day. And because you aren’t forced to be present at a set time or to make decisions within tight timelines, the nature of the marketplace takes stress and risk out of the equation. If you’ve found a vehicle you’re set on, you even have the option to purchase the vehicle on-the-spot with most having a Buy It Now price. This sale format, matched with BacklotCars’ comprehensive mechanical inspections, which gives you added peace of mind, enables you to buy inventory that truly maximizes value for your lot.
On the flip side, the bid-ask marketplace allows sellers to get more buyer visibility on their vehicles. With BacklotCars, vehicles are broadcast across the nation, allowing you to tap into a network of thousands of buyers. By giving buyers a longer period to bid, you ultimately get more eyes on your vehicle so you can maximize your value. Not being tied to a short window of sale gives you more flexibility—enhancing your regular workflow. Set your sales, allow bids to roll in and make decisions at your own pace. The entire process generally takes less than a day, which is about the same as other marketplaces when you factor in the time it takes from list to close.
For both buyers and sellers, a little extra time in the bid-ask marketplace delivers a high success rate without sacrificing the pace dealers move inventory. With traditional timed auctions, you often have to list your vehicle multiple times for a successful sale; on BacklotCars, you list it once and it typically sells within a day. In the end, you have to ask yourself: would you rather have to re-run your vehicle through a 20-minute auction multiple times—often on separate days—to be successful; or run it once and know that for most vehicles, the deal will close within just one day? I guarantee the answer is always success over express.
Understanding the bid-ask marketplace on BacklotCars is just the tip of the iceberg. As wholesale becomes more standardized across our industry, the value comes from how efficiently you can acquire your inventory and how successfully you can liquidate it – and that’s based on the marketplace you choose. As a leading, fast-growing dealer-to-dealer platform in the U.S., BacklotCars is your ticket to success. And with new synergies and value being added through KAR Global’s ancillary services, we’ve only scratched the surface on what you can do with us.
If you haven’t already, visit BacklotCars.com and take buying or selling wholesale to the next level.