How to Make Buying From Marketplaces Work for Your Dealership
3 mins
Managing the inventory for your dealership is a balance between finding the best inventory to meet the needs of your customers — and quickly moving inventory that is harder to sell in your area, but may be in demand in other parts of the country. The good news is that dealer marketplaces allow you to do both of these things so that you have a lot full of cars that your customers want and need.
What are dealer-to-dealer marketplaces?
Dealer-to-dealer marketplaces, like OPENLANE, are digital platforms that allow dealers to transact with other dealers across the country. These marketplaces are used to sell vehicles that may be in demand in other areas of the country, allowing you to buy cars that better suit your customers’ needs. This allows you to intentionally curate your lot to best fit the ever-changing needs of your customers.
How can marketplaces help your dealership?
A digital marketplace allows you to quickly and easily find and purchase the vehicles you need, instead of waiting weeks to get them. With just a few clicks, you can purchase cars and get them delivered to you within 2-3 days.
The opportunities are endless when buying from a marketplace like OPENLANE. Digital marketplaces allow you access to vehicles nationwide, making it even easier to find the exact model, color and features that you’re looking for.
Additionally, most online marketplaces are live 24/7 which allows you to view, make bids and win vehicles anytime and anywhere.
How to start buying from a marketplace?
OPENLANE’s US marketplace is the perfect way to start because it allows you to source directly from thousands of dealers’ lots, all in one place. Vehicles on the marketplace are available for bidding for up to 3 days, giving you the time you need to properly assess the vehicles and ensure you’re making the right decision.
With OPENLANE you can search for exactly what your customers want using advanced filters and you’ll get curated recommendations based on your buying history. You can also save your searches, create watchlists and get notifications so you are never missing out on a great opportunity for your lot.
Buying through a digital marketplace might seem like it can be risky but OPENLANE is dedicated to providing you with the transparency and protection you need to make confident buying decisions.
Every vehicle has gone through a detailed inspection process conducted by experienced inspectors. These inspections are a part of our advanced condition reports that employ cutting-edge technology and artificial intelligence so that you can easily view and identify challenges or damage. Plus, to ensure peace of mind, we offer buyer guarantees with your purchases. To learn more about OPENLANE’s guarantees and inspections, check out this blog.
Other sales formats on OPENLANE
On OPENLANE, dealers have different formats, outside of the marketplace, available to buy and sell cars the way that works best for your dealership.
OPENLANE’s auctions take place on Mondays and Thursdays from 2-4pm CT. These digital auctions allow you to get more of the traditional buying experience.
Marketplace users can also take advantage of Absolute Sale, a sales method that brings together the best of both the marketplace and the auction. A seller can mark a vehicle as Absolute Sale after getting an offer, so the vehicle is guaranteed to sell to the highest bidder by 3pm CT.
To learn more information about the different sales formats and see which one is best for you, read this blog.
Start buying on OPENLANE’s marketplace now!
If you are looking for a way to create a perfect lot for your customers, then buying from OPENLANE’s marketplace is the way to go. Start the sign-up process now and then start wholesaling in easy mode.