vAuto Expands Upside to Texas

vAuto Expands Upside to Texas

Dealers are maximizing their profitability with a wholesale solution that’s now available across more than two-thirds of the U.S.

vAuto continues its mission to help dealers maximize returns on every vehicle with a significant expansion of its one-of-a-kind wholesale solution, Upside, into the Texas market. Made possible through the combined power of vAuto, Kelley Blue Book and Manheim, Upside is the only end-to-end wholesale solution that enables dealers to acquire trade-ins at the right price while helping ensure a profitable wholesale exit. With this expansion, sellers in The Lone Star State will now be able to make more money and wholesale profitably in any economic market right inside their vAuto workflows.

“At vAuto, we strongly believe that dealers can, and should, be profitable in retail and wholesale, which is why we took the traditional wholesale risk-reward equation and flipped it on its head,” said Derek Hansen, vice president of operations and inventory management solutions at Cox Automotive. “The saying goes that ‘everything is bigger in Texas,’ and we look forward to showing our Texas dealers just how much bigger their wholesale profits can be with Upside.”

With this most recent expansion, Texas dealers can join the more than 500 dealers in over 30 states who have the confidence to say yes to every trade-in that comes their way as Upside gives them a profitable wholesale exit. For current Upside subscribers, that has translated into closing more retail deals, and the proof is in the numbers. Upside dealers who have a Kelley Blue Book Instant Cash Offer Buying Center close between 30%-40% more retail deals on their Instant Cash Offer leads than those who do not subscribe to Upside.

How It Works

The Upside experience starts at the point of appraisal with the industry’s leading trade-in tool, Kelley Blue Book Instant Cash Offer. Once the offer is generated, dealers will see their exit options on their vAuto appraisal page, including the “Upside Minimum.” This minimum is the lowest price they will receive if they choose to wholesale the vehicle through Upside, and the amount will always be higher than the Instant Cash Offer. The takeaway? Dealers will know the baseline for how much profit they can count on right when they’re appraising a car.

If a dealer decides to wholesale the vehicle, Upside takes care of all the work that comes next. A concierge will come to the dealer’s lot to perform the inspection and create a detailed condition report with industry leading imaging. They will then list the vehicle in the next Upside Direct sale, which offers a trunkful of additional benefits for sellers, including:

  • Minimized Risk. When a seller lists with Upside, there’s no risk of loss no matter how the bidding shakes out. Every vehicle that runs through an Upside sale will sell, eliminating the possibility of unsold inventory.
  • Higher Profit Potential. Sellers can see profits on every vehicle, but it gets even better. If a vehicle sells for more than the Upside minimum, which happens frequently, sellers keep the lion’s share of that upside. In fact, Cox Automotive has given approximately $30 million in profit share back to Upside sellers since the first sale.
  • Faster Sales = Reduced Carrying Costs. Not only do dealers have the ability to make a profit on their wholesale vehicles, but they’re also saving on other costs as well.According to Manheim data, dealers who subscribe to Upside cut their average time to sell by 61%, averaging around 3.5 days compared to the previous average of around 9 days, reducing their carrying costs for wholesale-bound inventory. It’s a win-win equation. Dealers save more and make more with Upside.

Upside Benefits for Buyers

While sellers are tapping into a one-of-a-kind wholesale experience, buyers also benefit by accessing highly sought-after inventory in a unique experience that’s built using all the best practices in wholesale. For Upside Direct inventory, which can be accessed via the Manheim Marketplace, every vehicle is listed at 50% of the Manheim Market Report (MMR). Since the units are sold via a no-reserve sale, every vehicle sells, even those with just one bid by the end of the sale.

Upside stands behind its listings. If a vehicle arrives and doesn’t match the condition report, buyers can easily return it. In addition, eligible Upside Direct units come with a complimentary DealShield DS360 21-Day Return Guarantee. Buyers can confidently find great deals that will help boost their inventory and their own profit potential.

“From the beginning, we knew that Upside offered dealers a whole new way to wholesale, and the response from buyers and sellers alike has been resoundingly positive,” Hansen added. “In the coming months, we look forward to bringing this unique solution to even more dealers across the nation as we know demand is high for the kind of value that only Upside can provide.”

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