For years, vAuto’s Provision has provided dealers actionable insights on valuing consumer trade-ins, and thanks to a new integration with Manheim Express, they can now act even faster to list vehicles in the wholesale marketplace. As the first integration between two Cox Automotive mobile apps, this seamless connection brings dealers major efficiencies — making it easier and more cost effective than ever to wholesale vehicles, the company reports. Of the approximately 450,000 trade-ins dealers evaluate each month with Provision, 50,000 end up in Manheim’s wholesale marketplace.
The integration combines two mobile technologies, vAuto’s Provision app and Manheim Express, to help dealers list inventory for wholesale in minutes without having to transport a vehicle to auction — saving time and money.
“The integration of vAuto’s Provision app and Manheim Express enables dealers to sell cars in the wholesale environment with greater confidence and speed,” said Randy Kobat, senior vice president of vAuto, HomeNet, and Dealertrack DMS for Cox Automotive. “The integration helps dealers know how much they can get for a vehicle at wholesale, and begin the wholesale process, whether it’s during a trade-in appraisal or after a vehicle hasn’t sold at retail, with a single tap on a mobile device.”
When vAuto dealers opt to wholesale a vehicle, the Manheim Express integration gives dealers an instant, real-money offer — called a Guaranteed First Bid — on that vehicle. With this feature, dealers can reduce their risk and quickly and confidently make good decisions during their appraisal and wholesale processes.
Guaranteed First Bid, driven by rich valuation data from the Manheim Marketplace Report (MMR), sets a minimum floor price for a dealer’s vehicle. If the vehicle does not sell for the floor price, or higher, within two sale-days of being listed, Manheim will purchase the vehicle at the Guaranteed First Bid price. Dealers can now rest assured that they can quickly move unwanted vehicles off their balance sheets.
“Combining Manheim Express’ Guaranteed First Bid with vAuto’s Provision appraisal processes provides dealers greater confidence in the values they are placing on trade-in vehicles,” said Derek Hansen, vice president of Offsite Solutions at Manheim. “And with the ability to instantly list a vehicle, this partnership shows the seamless experience Cox Automotive is creating for dealers in the new digital wholesale marketplace.”