Topmarq Inc announced the launch of the company’s novel vehicle acquisition platform that allows car dealerships to quickly and easily start buying cars from local sellers. The online service makes acquiring vehicles from private sellers simpler with automated bidding and seller appointment setting. The platform is being released as a limited public beta.
The U.S. vehicle market is in the midst of yet another massive shift as prices simmer from all-time highs through the pandemic. Though pricing is showing signs of residing, dealers across the country are still at a loss for how to increase their used inventory. Typical channels like wholesale auctions are seeing near-retail pricing that makes them a difficult choice for the average dealer.
Topmarq is positioned to help dealers solve this problem by going directly to the source – local private sellers. Rather than let a quality used vehicle slip into the wholesale channel, dealers can now get access to thousands of local sellers looking for a reasonable trade-in offer. The platform gives dealers access to submit custom offers directly to sellers based on detailed vehicle condition reports and VIN-based data. Topmarq’s proprietary tracking system manages sellers through the pipeline until they set an appointment with a specific dealer, thereby removing the wasted dealer effort on lost leads.
Topmarq is currently focused on the Texas market, with plans for expansion to other major metros shortly. The company is led by CEO and founder Quinn Osha, a Caltech graduate and former engineer at Axon. James Mark, a director of finance at LegalZoom and formerly TrueCar, is an advisor with the company.
