Pearl Combines Equity Mining Tool With 'Buy Direct From Consumer' Platform
The integration will allow dealers to search for vehicles they wish to purchase directly from consumers by year, make, model and trim, according to the company.
DALLAS — Pearl Technology Holdings LLC today announced that it has combined VehicleXchange (VX)'s equity intelligence and automated marketing platform with its Trade In Concierge (TIC), the firm's “buy direct from consumer” platform.
The integration will allow dealers to search for vehicles they wish to purchase directly from consumers by year, make, model and trim, according to the company. The VX equity engine will continually search for consumers in the service drive, dealer database, or market who own these vehicles and are in an appropriate equity position to sell.
The information obtained from VX will then pre-populated into TIC, which will automatically send an email to the customer asking him or her to verify the condition of the vehicle in return for a real cash offer.
“Buying inventory directly from consumers is the ultimate way to stock a dealer’s lot,” said Bruce Thompson, CEO and founder of Pearl. “By integrating elements of two of our subsidiary companies, we can create a fabulous automated stream of consumer vehicle sell requests. Dealers tell us what they want to buy and the system does the rest. Not only can dealers stock their lots without paying all the fees associated with auctions; but most of these customers will buy a replacement.”
For more, click here.
More Auto Finance
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
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 Cars a Tad More Affordable
May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
Read More →
First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →