Earn an Extra $250 to $400 per unit
Instead of sending cars to physical auctions for sale, recoveries can be auctioned online to wholesale buyers directly from the recovery agent’s lot, reducing remarketing time and expense and allowing the recovery service provider to offer full value-added recovery and remarketing services.
Remarketing through RunBidSell is better for the lender.
Reduced remarketing channel costs
Greater market visibility for their units
Increased transparency in process
Remarketing through RunBidSell is better for the recovery agent
Retain, attract and grow clients
Increase revenue per unit from value added services
Become a one-stop, full-service recovery and remarketing provider
What does it cost?
RunBidSell doesn’t charge a sell fee or membership fees.
How much will I make?
That’s up to you. You can charge whatever you want, it’s your business. A fee of $250 to $400 per unit is less cost for a lender than a psychical auction.
What a finance company will save by using your remarketing service? A car sent to auction by a finance company faces issues that diminish profit. You will increase there profit.
Auctions will limit vehicle auction runs to 2, maybe 3 times through the lane. At the conclusion of the third run, the finance company has to take the highest “IF” bid or transport to a different auction.
These vehicles are sold with “IF” bids. The auction calls the finance company after the auction to let them know what the “IF” bids were. “IF” bids always attract less bidders. If a dealer commits to an “IF” bid, his money is committed to that bid until the auction calls to let him know if he won the bid or not. A dealer with say a 50k buying budget for that day, committing to too many “IF” bids can end up with a percentage of his buying budget not being utilized, which results in less profit. A good wholesaler will concentrate on vehicles he can win in the lane, and save “IF” bidding on vehicles well below market.
Lack of location targeting. Finance companies lose when they lack location targeting.
Example of a repossessed vehicle with a $10,000 wholesale value
Recovery Fee = $350
Auction Transport =$75
Auction Fees = $600
Diminished Value (IF Bids, lack of location targeting, limited runs) = -10% (Actually higher)
Total Net: $7975
Your Recovery Fee = $350
Auction Transport =$0
Auction Fees = $0
Your Remarketing Fee = $300
Total Net: $ 9350
Additional Profit for Lender: $1375
Vehicles ready for remarketing.
Have clients agree to remarket through your company
Dedicated account manager
Dedicated Sales page for your inventory
Partner Referral service
Wholesale Buyers for your vehicles