Driveitaway.com, which bills itself as the first site to focus on off-lease vehicle remarketing over the Web through dealer-to-consumer online used-car auctions, announced on March 20 that it will be premiering a private label used-vehicle service contract program for off-lease vehicle remarketing developed in cooperation with Interstate National Dealer Services, a supplier of service contracts and extended warranties.
The Driveitaway.com service contract product suite, which can be placed on off-lease vehicles offered for auction on the Driveitaway.com site, is the first one of its kind aimed specifically at the special needs
of fleet remarketers including corporations seeking to maximize the value of their high quality fleet vehicles coming off lease, according to John Possumato, vice chairman and director of strategy and business development for Driveitaway.com. Possumato said it will include both bumper-to-bumper and powertrain coverage in ranges from 3 months/3,000
miles up to 60 months/75,000 miles.
"The Driveitaway.com service contract product developed by Interstate is the perfect complement to our remarketer-centered services," Possumato said. "Just as Driveitaway.com finally makes it possible for
fleet remarketers to offer their cars directly to consumers now we have teamed up with one of the industry's best-known administrators of service contracts to make those cars even more attractive to consumers."
"Interstate is always looking for innovative new service contract opportunities, and the remarketing niche targeted by Driveitaway.com is a perfect application," said Michael Gannon, vice president of corporate development for Interstate. "We look forward to offering our known quality product to this new market and bringing additional value to the off-lease
cars running through the online auction system."
Driveitaway.com and Interstate introduced the new service contract product to the country's top remarketers at the Conference on
Automotive Remarketing March 19-21 in Las Vegas.
About Driveitaway.com
Driveitaway.com (www.driveitaway.com) is a Web site that focuses on off-lease remarketing via dealer-to-consumer used car auctions over the Internet.
Driveitaway.com is designed to allow consumers to bid at prices closer to the wholesale auction price of used cars and gain the security of buying the vehicle from a local, respected dealership. The site partners with local auto dealers who post their inventory of late model vehicles on Driveitaway.com's
online auto auction and through its aggregate supply of prime pre-owned vehicles sourced from commercial fleets and leasing companies.
Consumers who go to the site can preview a wide array of used vehicles, all available locally at some of the largest auto dealerships. They can search by make, location, dealer, and mileage. Car shoppers can then choose the
car they like and bid online. The auctions run three to seven days from the date the car is posted. During that time, consumers are encouraged to visit participating dealerships for an inspection or a test drive.
About Interstate National Dealer Services
Interstate National Dealer Services is a nationwide provider of service contracts and extended warranties. The company offers
coverage for a broad range of products including new and used cars and trucks, recreational vehicles, watercraft, motorcycles and powersport vehicles.
For more information, visit www.inds.com.
