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TradeRev Adds New Features to Online Auction

April 12, 2017

CARMEL, Ind. — Tech startup TradeRev today announced the elimination of monthly subscription fees for U.S. car dealers using its online automotive exchange.

TradeRev users can now launch and participate in unlimited one-hour online vehicle auctions with live, competitive bidding and only pay fees for completed transactions. Participating dealers will also benefit from TradeRev’s new personalized “Title Concierge” and “My Account” features and enhanced post-sale services.

“We’re constantly listening to user feedback and evolving our technology to improve the buying and selling experience for dealers,” said Keith Crerar, executive vice president of TradeRev U.S. “With no monthly subscription fees, TradeRev will further expand and empower our broad national marketplace of participating dealers. And our enhanced post-sale services will help finalize transactions more quickly, easily and accurately.”

TradeRev’s new “Title Concierge” service is aimed at building trust between participating dealers by ensuring buyers receive titles from sellers in a timely manner. TradeRev will open a direct line of communication with both parties, contacting sellers immediately after a vehicle is sold and following up until the title is in the buyer’s hands. It will also keep buyers regularly updated on title status to help them better plan and manage their inventory.

To help customers stay organized and operate more efficiently, TradeRev is also adding a “My Account” feature. Using “My Account,” customers can view a summary of their entire TradeRev accounting history on a single, easy-to-read page. The “My Account” tool will track all money movement between sellers and buyers, automatically posting each transaction in real time. 

TradeRev is also making transporting vehicles between dealers easier and more convenient. Through TradeRev’s mobile app, sellers can now submit Vehicle Release Forms from their phones or tablet devices with the touch of a thumbprint. In the past, sellers were required to download a VRF, then scan and email or fax the form to the transporter. TradeRev has digitized and accelerated this process, allowing submission and review through the TradeRev mobile app. 

“We’re confident these new features will further streamline the buying and selling process for dealers seeking new ways to increase sales and profitability,” said Crerar. “By removing subscription fees, we’re encouraging every U.S. dealer to test-drive TradeRev and feel the full power and benefit of our revolutionary mobile app technology.”

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