KAR Doubles Down on TradeRev
KAR Auction Services extended $15 million in credit to TradeRev, the digital auction platform in which KAR acquired a 50% stake in 2014.
CARMEL, Ind. — KAR Auction Services, a wholesale used-vehicle marketplace and technology solutions provider, has extended up to $15 million in credit to Nth Gen Software, home of the TradeRev platform, which facilitates online and mobile dealer-to-dealer auctions.
KAR acquired a 50% stake in TradeRev through its ADESA business unit in 2014. KAR’s directors said the additional funding will be used to accelerate TradeRev’s expansion and deploy new products and platform functionality.
“KAR is focused on simplifying used-vehicle transactions and providing the best physical, online and mobile auction venues for our customers worldwide,” said Jim Hallett, chairman and CEO of KAR. “We’ve witnessed the disruptive power of TradeRev’s progressive mobile technology in the dealer-to-dealer segment and are committed to supporting their continued growth in new and existing markets.”
TradeRev was designed to allow users to launch and participate in one-hour online vehicle auctions with live, competitive bidding. Potential buyers are notified of new auctions via text, mobile and email alerts, and sellers receive bids representing true, real-time market value for their vehicles, according to the provider.
“This additional infusion of support will expedite the release of new TradeRev products and functionality to meet growing customer demand,” said Mark Endras, CEO and cofounder of TradeRev. “We look forward to expanding TradeRev’s network of participating buyers and sellers and placing the power of real-time auctions in the palm of their hands.”
TradeRev operates in 17 U.S. markets, including their recently announced entry into New York, Pennsylvania and Dallas. TradeRev is available to franchise dealers across Canada and the technology is offered through the ADESA brand in the United Kingdom.
More F&I
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Leading with Purpose
In this video, Trent White explains how understanding your people’s 'why' is a key leadership responsibility of F&I professionals and how that mindset drives dealership engagement, trust and performance.
Read More →
Integrating Nontraditional F&I Products
The niche presents a strategic advantage for auto dealerships as they move to adapt to fast-changing consumer expectations in today’s market.
Read More →
Trust Is Personal
Technology, no matter how efficient, can’t replace what the human F&I manager can do, which is to bridge the divide between cyberspace and the in-store experience.
Read More →
Amplify 2026 Billed as Turning Innovation Into Results
Reynolds and Reynolds says its annual retail summit will connect dealers with practical strategies, peer insight, and technology-driven ideas.
Read More →
Own Your Outcome: F&I in the Digital Customer Journey
Finance has historically been the last step in the car-buying process, but it doesn’t have to be. The customer’s journey starts long before they arrive at the dealership, and so should F&I’s involvement.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Lifetime Battery F&I Product Meant to Drive Dealer Traffic
EFG Cos. offering is intended to create lifetime auto dealer engagement with customers.
Read More →
The Psychology Behind Menus That Increase Add-On Sales
There is a science to crafting a menu that gives customers confidence in the choices presented, and moving the process outside the F&I office can further boost results.
Read More →