How to Master Your First Week Buying on OPENLANE
4 mins
Signing up for a new wholesale platform is a lot like buying a new phone. You know it’s packed with features that can make your life easier, but until you get the hang of it, you’re mostly just staring at the screen wondering where to start.
If you’re a used car dealer who is buying on OPENLANE for the first time, welcome to the neighborhood! The wholesale market moves fast, and sitting on the sidelines while figuring out the controls can cost you fresh inventory and turn time.
Here is your step-by-step roadmap to dominate your first week on OPENLANE, source inventory with total confidence and start turning trades into cash.
Step 1: Set Up Your Profile and Personalize Your Marketplace
Your first week is about getting your account set up around the way you buy wholesale vehicles. A few quick steps now can help you find used car inventory faster and be ready to act when the right vehicle comes along.
- Download the OPENLANE US App: Available on IOS and Android, the mobile app lets you take the marketplace with you, wherever you go. You can even switch between buying and selling seamlessly right from your phone.
- Set your filters and saved searches: Don’t waste time scrolling past vehicles you don’t sell. Filter by make, model, distance and price point. Save these custom searches and get instant push notifications when your used car inventory hits the market.
- Plug in your floorplan: Connect your preferred floorplan financing directly to your account during week one so you aren’t delayed when it’s time to check out.
Step 2: Master the Art of Reading Condition Reports
Now that you’ve set up your search filters, it’s time to start shopping! That means knowing what you’re looking at on the marketplace.
Condition Reports give you the information you need to evaluate used car inventory remotely before you buy wholesale vehicles. With inspector observations, photos, mechanical information and AI-enhanced insights.
Pay close attention to:
- 25+ High-Quality photos showing exterior, interior, tires and frame details.
- Inspector notes from test drives and mechanical reviews.
- AI-Powered Exterior Damage Detection, which highlights detected exterior damage on condition report photos.
- Engine Audio Analysis, which can flag potential engine noise anomalies.
- Intelligent OBD2 Decoder, which translates diagnostic trouble codes into clearer messages.
- Predictive Pricing, which uses real-time market data to estimate accurate vehicle values and recommend optimal listing prices.
Step 3: How to Buy Wholesale Cars on OPENLANE
Now it’s time to pull the trigger. Rather than sticking to just one format, OPENLANE offers flexible options depending on how your dealership operates.
If you’re looking for a vehicle quickly, skip the bidding entirely with Buy Now to secure the vehicle at a fixed price. Prefer a sure thing? Look for Absolute Sale tags, which seller guarantees the vehicle goes to the highest bidder without reserve hurdles at the end of the day. And if you thrive on the classic auction rush, you can jump into scheduled live events or bid on 24/7 marketplace listings as fresh trades are added daily.
Step 4: Protect Your Margin with the “As Described” Guarantee
In your fourth week, as your first vehicles start arriving, make sure you understand your safety net. Always inspect the vehicle quickly after it’s dropped off by the transport truck.
OPENLANE’s standard As Described Guarantee is available on 93% of listings. It protects your buy for 7 days from purchase —or 14 days from delivery if using OPENLANE Transport brokerage services—if any certain covered issue wasn’t properly disclosed in the Condition Report.
Need extra breathing room for your mechanics to do a full post purchase inspection? You can easily opt for an Extended Guarantee to stretch that protection out to 14 days when using OPENLANE transport.
Ready to Stock Your Lot?
Your first month on OPENLANE is all about building momentum. Once you’ve set up your saved searches, learned to read the AI-enhanced Condition Reports, and bought your first couple of units, you’ll wonder how you ever sourced inventory any other way. OPENLANE gives you another way to source used car inventory and keep your lot stocked with the vehicles your customers want.
Have questions? Log in to your OPENLANE account today to connect with your dedicated account rep, or jump straight into the marketplace to set up your first saved search!
Frequently Asked Questions
How much does it cost to join and bid on OPENLANE?
Registering for an OPENLANE account is completely free and exclusively for dealers, with no monthly membership or subscription fees just to browse listings and save searches. You pay a transparent buy fee (plus any optional fees like transport or extended coverage) only when you successfully win or purchase a vehicle.
Can I sell my own dealership’s aged inventory on OPENLANE, or is it strictly for buying?
OPENLANE is a two-sided wholesale marketplace, meaning you can easily list and sell inventory too! When you’re ready to sell fresh trade-ins or aged lot units, you can use the OPENLANE US app to request an inspection. An inspector will come to your dealership to inspect the vehicle before it’s launched in the marketplace, where it can reach a nationwide network of active dealer buyers.
How does vehicle transportation work after I win a listing?
You have full flexibility. During checkout, you can choose to coordinate your own pickup with a preferred carrier or let OPENLANE handle the heavy lifting. If you select OPENLANE Transportation, thousands of vetted haulers bid on your move to get your vehicle delivered straight to your lot with end-to-end tracking.