World Omni Financial Corporation, one of the nation's largest automotive-related finance and leasing operations, has announced it will offer its Platinum Certified(SM) off-lease vehicles through a new Internet-based auto auction site called World Omni World Class Online.
The site was designed to make dealers' online acquisitions of high-quality used vehicles more efficient and convenient, according to Andy Mahoney, vice president of Corporate Vehicle Remarketing at World Omni. The initiative has been developed by Autodaq Corporation, a business-to-business e-commerce automotive and remarketing company.
Through World Class Online, World Omni will offer Platinum Certified off-lease Toyota and other make vehicles exclusively to the 162 dealers of Southeast Toyota Distributors, LLC located throughout Florida, Georgia, Alabama, and North and South Carolina via an online private auction created, powered and maintained by Autodaq. It replaces the e-mail and fax-based silent auction services presently used by many dealers.
"World Omni's World Class Online continues our tradition of offering dealers efficient access to high-quality off-lease vehicles," Mahoney said. "This innovative new program provides dealers with state-of-the-art tools for acquiring quality wholesale vehicles from the convenience of their desk."
According to Mahoney, all a dealer needs to visit World Omni World Class Online is a personal computer with access to the Internet. "Finding your way through the auction site is simple," he said. "It will direct dealers to information about a prior auction transaction, World Omni Platinum Certified vehicles currently at the online auction, how to search for specific vehicles and much more."
The Autodaq Private Auction service provides financial institutions, auto manufacturers and other fleet, lease and rental car operators with branded Websites for transacting sales and communicating with dealers and other buyer groups that they specifically identify.
The private auction site designed by Autodaq provides complete condition and guide book price information and allows dealers to search for vehicles with precision. Dealers may bid in real time or submit "proxy bids" by entering the highest amount they would pay for a specific vehicle and allowing the Autodaq system to automatically bid for them in $50 increments up to that pre-specified proxy (or maximum) amount.
"We're thrilled to put a branded Internet solution to work for World Omni," said Adam Boyden, president and CEO of Autodaq. "We're confident that this will extend World Omni's market presence and strengthen its business relationship with Southeast Toyota dealers, all the while reducing resale costs and compressing sales cycles."
To register for the new service, dealers should contact their Southeast Toyota Finance representative or call (954) 420-3405.
About World Omni
World Omni Financial Corporation (www.worldomni.com) is a subsidiary of JM Family Enterprises, Inc. (www.jmfamily.com), a $6.6 billion diversified automotive corporation headquartered in Deerfield Beach, Fla., and the 19th largest privately held corporation in the U.S., as measured by Forbes magazine.
World Omni serves automotive retail outlets throughout the U.S. and offers a complete range of customer-driven automotive products and services. Currently, the company manages approximately $10 billion of receivables representing 560,000 outstanding automotive lease and retail contracts and approximately $1.2 billiion of automotive commercial loans.
About Autodaq
Autodaq Corporation (www.autodaq.com) is an automotive remarketing company that provides the infrastructure and technology to facilitate the business-to-business trade of used cars on the Internet, as well as professional remarketing services that include remarketing masnagement, lease maturity management, strategic marketing, vehicle sourcing, and sales and leadership training.
