How OPENLANE’s Arbitration Policy Enhances Buyer Protection
2 mins
OPENLANEⓇ is committed to providing protection for dealers that goes beyond what is typically offered by other arbitration policies. Designed with today’s digital buying experience in mind, our arbitration policy helps address common concerns and bridges the gap between traditional and modern wholesale purchasing. For dealers purchasing vehicles, having a robust arbitration policy is important for reducing risk and increasing confidence in every transaction, especially when strong buyer protection is a priority.
While many arbitration policies, including OPENLANE’s, cover fundamental issues like major cosmetic damage, this often is considered a common industry-standard protection. The true measure of a buyer-focused policy is found in the protections offered beyond that common standard, making OPENLANE a clear leader in any arbitration comparison.
Expanded Interior and Tech Coverage
OPENLANE’s robust arbitration policy offers buyers additional protections in key areas. Our coverage is much more comprehensive and addresses items that are not frequently covered under other policies offered in the wholesale auction space, including:
- Power Windows, Locks and Seats
- Panoramic Roofs
- Back-Up Camera
- Air Conditioning
- Navigation
- Radio
This expanded approach strengthens overall buyer protection in ways many competitors do not.
Overcoming Buyer Hurdles
When contrasting OPENLANE’s policy with the others offered, the differences demonstrate how complex claims can become for buyers. In comparison to the competition, OPENLANE provides advantages centered around clarity and efficiency, important components of strong buyer protection. On OPENLANE only about 5-6% of vehicles are sold “AS-IS” making transparency in the process a big advantage for OPENLANE.
Other arbitration rules often impose restrictions that can complicate or delay cases. Let’s take a deep dive into some of them here:
- High Thresholds: OPENLANE’s arbitration policy is built to help buyers by allowing claims on a wide range of mechanical, structural, exterior and interior issues, without imposing restrictive single-item cost thresholds like those found elsewhere. This flexible structure is a major differentiator when evaluating wholesale auction policies.
- Low-Value Vehicle Protection: Unlike policies that offer minimal coverage below certain price points, OPENLANE provides certain protections, even for vehicles under $3,000, ensuring buyers receive fair treatment regardless of price.
- Extended Timing: OPENLANE’s digital-first arbitration windows are built for today’s online marketplace, offering clear timing expectations and streamlined submission process. Our approach reduces uncertainty and gives buyers the confidence that valid claims can be addressed promptly within a modern, user-friendly environment.
OPENLANE’s arbitration policy stands apart by offering dynamic protection that extends beyond basic coverage, all while reducing the high thresholds that can often complicate claims. By prioritizing transparency and efficiency, we transform the buying experience, allowing dealers to bid with confidence and rely on comprehensive buyer protection.
Buyer Protection
OPENLANE offers the As Described Guarantee, which is component-specific coverage designed to support dealers who are purchasing vehicles digitally. Available on 93% of our inventory, this guarantee provides arbitration rights when certain covered items are not disclosed on the condition report, with higher-priced vehicles qualifying for broader protection.
The As Described Guarantee is valid for seven days from purchase, and when paired with the OPENLANE extended guarantee, buyers receive an extended window of seven days from delivery—offering up to 14 days post-purchase to open a claim. This expanded window enhances transparency and adds yet another layer of buyer protection.
Ready to experience the peace of mind that comes with industry-leading coverage?
Start sourcing your inventory here today.