Seller’s Checklist for Getting Paid Fast on OPENLANE
3 mins
It’s no secret that selling wholesale cars on OPENLANE is easy and efficient. Our streamlined process lets you focus on what you do best — retailing cars — while we handle the rest.
Of course, we know that a deal doesn’t stop when the timer runs out. When you sell used vehicles on OPENLANE, you can rest assured that we’ll be with you throughout the entire post-sale process.
Here are a few key steps dealers should follow to ensure quick payments when selling used vehicles on OPENLANE.
1. Review your sale
First — congratulations on selling your car on OPENLANE! Once your vehicle sells on OPENLANE, you’ll receive a confirmation email packed with essential information about your sale, including all the details you need for accounting purposes.
2. Release the Vehicle
Once your vehicle is sold, either the buyer or a third-party transport vendor will arrange to pick it up. Transporters typically complete in-state deliveries within 5-7 business days. Weather, remote locations, or extenuating circumstances can cause some transports to take 7-10 business days.
Safety and security come first, so we’ll provide you with a unique gate code in your initial sale confirmation email. Sellers use the code to confirm the identity of the individual or party there for pickup.
And remember to have the keys available on the day of pickup to avoid delays.
3. Send Your Title
To ensure a smooth transaction, it’s important to send your title as soon as possible. When signing over your title, remember to make it out to the buyer, not to OPENLANE.
Use a trackable shipping service like FedEx, UPS, or Priority Mail to send your title to the following address:
OPENLANE
Attn: Title Dept
1100 Main St, Ste 1500
Kansas City, MO 64105
If vehicles are sold “Late Title” and the title is not received within 45 days, late fees apply and the buyer could choose to unwind the deal and return the vehicle under certain circumstances.
Concerns about missing documents? Need assistance with your title? No sweat, our dedicated team is here to help. Just email us your VIN or order number, and we’ll gladly address any questions you may have.
4. Get paid fast!
Once we receive and verify your completed marketable title, our team will promptly initiate an ACH/direct deposit payment to your preferred bank account saved in your Purchase Preferences. You typically can expect to see the funds in your account the next business day.
The day we initiate your payment, you’ll also receive a pending payment verification email with a breakdown of the sold unit details, making it even easier for you to keep your records organized.
Simultaneously, we’ll overnight the title to the buyer.
Bonus Tips to Maximize your Sales on OPENLANE
OPENLANE offers a robust digital marketplace where you can sell your vehicles quickly and easily. Here are a few tips to maximize your selling experience and get paid even faster.
☑ Don’t leave good bids behind. Respond to offers quickly and communicate with your OPENLANE team if you have any questions.
☑ Try Absolute Sale. Receive a strong offer? Launch Absolute Sale and watch the magic happen! Absolute Sale vehicles have a special badge and timer, and indicate a seller’s commitment to sell to the highest offer by 3 pm CT. Prefer to set it and forget it? Automated Absolute Sale does the work for you so you can capture optimal buyer demand in real time.
☑ Go for Elite status. Elite Dealers get a special badge on all listings, which is why Elite sellers see an average of five more views per vehicle than Standard or Premium Sellers. Qualification for Elite status is determined by the number of vehicles you sell each month and your conversion rate, which you can check at any time on your Seller Stats page.
Ready to Turn Your Inventory into Cash?
OPENLANE is committed to making wholesale easy and profitable for you. Sign up today and turn your excess inventory into cash.
Click here to get started on OPENLANE.