PLANO, Texas — Executives announced the launch of CarOffer, a new website billed as the retail automotive industry’s first instant wholesale vehicle trade platform. The platform was designed to address today’s most pressing challenges surrounding appraisal win ratios, aging inventories, acquisition and selling of used vehicle inventory, and helping dealers reverse the current margin compression trends without monthly subscription fees or contracts.
More than 1,000 dealership locations have already committed to utilizing the CarOffer platform, which includes a real-time, integrated “point of appraisal” bidding platform, 24/7 automated inventory offers, and Matrix, a patent pending dealer-to-dealer transaction marketplace, all according to the announcement.
CarOffer is the brainchild of founder and CEO Bruce Thompson, who has served in leadership roles with a number of inventory management providers, including American Auto Exchange.
“CarOffer enables dealers to trade for twice as many vehicles with virtually no risk while also eliminating all aged units over 45 days. Obviously, this means many more new and used retail sales. In so doing, the average dealer will realize significant dollars to the bottom line,” Thompson said. “Trade-ins are as much as 150% more profitable and turn in half the time as purchased vehicles. CarOffer is the solution that will enable dealers to switch from the current acquisition and pricing strategies that have decimated pre-owned margins over the last decade. Everyone is making money except the dealer, and it’s our intent to turn the tables.”
Originally posted on Auto Dealer Today