Edmunds Opens Registration for Used+ Program
July 08, 2015
DETROIT — Dealers can now sign up to take advantage of Edmunds.com’s new Used+ used-car selling program. It is designed to help registered users close more leads generated from the vehicle-listing site.
The program allows dealers to present their used-vehicle inventory to in-market shoppers with a Vehicle Protection Plan and a $200 gas card. The Edmunds Vehicle Protection Plan is a short-term warranty underwritten and administered by Edmunds third-party partner CARCHEX.
The protection plan provides 30-day, 1,000-mile exclusionary coverage with a $100 deductible. The plan covers all makes and mileage levels and provides 12 months of roadside assistance.
“Used+ helps dealers address used-car shoppers’ biggest pain points: difficulty searching for and buying a used car and fear of buying a lemon,” said Seth Berkowitz, president of Edmunds.com. “Through this program, we’ll connect in-market shoppers with dealers, providing peace of mind and sweetening the deal for car shoppers so that the deal can close more quickly.”
The program was rolled out after more than 250 dealers in Arizona, Florida, Georgia, Illinois and Nevada completed a six-month pilot. According to Edmunds, test dealers generated, on average, three times the engagement of Edmunds’ existing used-car program. With full participation in the program, including Edmunds Exclusive Pricing and Exclusive Bonuses, dealers received seven times the number of contacts.
“Edmunds’ exclusive offers through Used+ create a very high perceived value for shoppers and they provide a solution that doesn’t put the burden on the dealer,” said Brent Rogers, chief marketing officer at Patrick Dealer Group in Chicago, which participated in the pilot program. “It’s an easy and turnkey product with a price structure that gives our dealership a favorable cost per sale.”
Dealers interested in registering for Used+ can choose between a subscription or cost-per-sale model.
“The cost-per-sale model and subscription model allow a dealer to choose a sales model that best aligns with their business strategy,” said Alison Anziska, director of product management at Edmunds. “The cost-per-sale model is a low-risk, performance-based model whereas the subscription model has a pre-determined cost.”
When asked if the program might lead to F&I product sales for Edmunds.com, Anziska said the company was open to the idea.
“A key part of our product development is eliminating pain points for both the dealer and shopper, as evidenced with Used+,” said Anziska. “Whether or not this program will lead to an F&I product, or product sales, is undetermined, but if we are able to identify a way that Edmunds can improve this aspect, it is an option we would be open to exploring. “
Edmunds will be marketing the program to shoppers later this summer. For dealers looking to learn more about the program, click here.