Audi Financial Services, the U.S. finance arm for Audi of America, and Autodaq Corp., an integrated automotive remarketing services company, have launched “AudiDirect.” This service will enable more than 250 Audi dealers nationwide to report the return of off-lease Audi Financial Services vehicles online, obtain an immediate purchase quote, and enjoy access to a virtual inventory of Audi vehicles held by other dealers, according to the companies.
“Things are going extremely well with the program and will be announcing some similar ones with others in the coming months,” Andrew Iorgulescu, vice president of business development at Autodaq, told F&I Management and Technology.
Autodaq, which provides the infrastructure and services to facilitate the trade of used vehicles on the Internet, will both power and maintain the Audi service. The new online service recently completed its pilot in selected Audi sales regions and is currently being rolled out throughout the U.S.
“AudiDirect is an exciting new service for our dealers,” said Jo Lebeck, remarketing director for Audi Financial Services and Volkswagen Credit. “It dramatically simplifies the grounding process while providing our dealers with access to quality Audi vehicles twenty-four hours a day, seven days a week. Plus, the comprehensive condition and pricing information necessary to buy vehicles online with confidence is all there on every vehicle detail page.”
“Not only do our dealers not need to pay any buy fees, but Audi Financial Services can streamline the vehicle grounding and remarketing process benefiting the entire Audi family by eliminating much of the depreciation, interest, transportation and handling fees involved in the traditional remarketing process,” Lebeck said.
“We’re very excited that Audi Financial Services chose Autodaq’s proven Internet technology and online remarketing services to augment its remarketing and vehicle grounding process,” said Adam Boyden, president and CEO of Autodaq. “We look forward to serving both Audi Financial Services and its national network of dealers.”
About Audi Financial Services
Audi Financial Services operates as a marketing arm of VW Credit, Inc. Founded in 1981, VW Credit, inc. is a wholly owned subsidiary of Volkswagen of America, Inc. Operating in the United States as Volkswagen Credit, Audi Financial Services, and Bentley Financial Services, the company provides a full range of retail and wholesale financial services including retail loans, leases and balloon notes, as well as dealer floor planning, mortgages and capitalization loans. Currently the company has managed assets in excess of $12 Billion.
Headquartered in Auburn Hills, Mich., VW Credit, Inc. has more than 600 employees and operates out of four region offices in New York, Atlanta, Denver, and Los Angeles. The company also operates its credit, funding, IT and customer relations operations out of two Services Centers located in Chicago, Ill., and Portland Ore.
About Autodaq
Autodaq Corp. (www.autodaq.com) is an integrated automotive remarketing services company that provides the infrastructure and technology to facilitate the business-to-business trade of used cars on the Internet and professional remarketing services that include remarketing management, lease maturity management and sales and leadership training.
Autodaq says its services significantly reduce costs, increase profitability and improve operational efficiency for financial institutions, auto manufacturers and other fleet, lease and rental car operators, as well as franchised and independent auto retailers and wholesalers.
Based in Menlo Park, Calif., Autodaq is a privately held company. Its investors include August Capital, Madison Dearborn Partners, Zilkha Ventures, Clayton Venture Group, and Dain Rauscher Wessels.
