Manheim taps into an underserved area of the wholesale market to help ease fund collection and titling for dealers who sell direct.
ATLANTA – February 13, 2020 – Manheim will make it easier than ever for dealers to buy and sell direct with a new offering: Express Direct™. Direct sales, which have long been a part of the wholesale space, happen when a dealer sells specific vehicles to another known dealer.
These transactions, while convenient to offload inventory, leave the seller with extra work, from tracking the titling process to collecting funds and managing their inventory in different channels. On the other side of the transaction, buyers are sometimes challenged to floorplan the vehicles. Manheim Express can work to help take some of those headaches out of the transaction and make these deals easier than ever.
“Dealers’ wholesale strategy often includes a mix of selling some vehicles through an auction, while selling others direct,” said Derek Hansen, vice president of offsite solutions at Manheim. “Direct sales can offer dealers a way to quickly offload specific inventory but come with extra work for both sides to manage. As Manheim already excels at managing the wholesale process, from titles to funds and floorplans, it makes perfect sense for us to support direct sales and give dealers an easier way to manage all of their wholesale needs in one location.”
To sell a vehicle through Express Direct, authorized dealers will only have to use the Manheim Express app to take a picture of the VIN, answer a few questions and enter the email address of the person they want to sell vehicles to. The registered buying dealer will then receive a notification, and they can accept or decline the purchase. Manheim will manage the title transfer and will work to help ease floorplanning of the vehicle, if needed and available.
“Ultimately, we’re creating additional convenience for trusted dealers in the Manheim network,” Hansen added. “Express Direct will take the challenge out of direct transactions and give dealers yet another way to wholesale vehicles quickly and easily.”
This new offering comes on the heels of Manheim Express’ explosive growth over the last year. Over 70,000 users across approximately 18,000 dealerships have downloaded Manheim Express, and the app generated the app generated a ten-fold growth in monthly transactions from January to December 2019. The app has received a slew of recent enhancements, including integration with Manheim’s Ready Logistics transportation solution, continually expanding Concierge force, as well as new features like Audio/Video tags and interior 360s.
Interested dealers can get a preview of Express Direct in the Manheim booth (#3030C) at the 2020 NADA Show in Las Vegas February 14th-17th. The solution will be available at select Manheim locations in the coming months before becoming widely available by midyear.
Manheim®, the nation’s leading provider of end-to-end wholesale vehicle solutions, is celebrating 75 years as an industry innovator, driving success for clients, the company, its team members and the industry. The dream of five men who auctioned off a handful of cars in 1945 from a single-lane location in Manheim, Pennsylvania launched a company that today offers 7 million used vehicles annually and facilitates transactions representing nearly $67 billion in value with the grit and determination of 17,000+ team members. Through its physical, mobile and digital sales network, Manheim offers services for decisioning, buying and selling, floor planning, logistics, assurance and reconditioning. Operating the largest vehicle wholesale marketplace, Manheim enables clients more efficient ways to connect and transact business how and when they want. Headquartered in Atlanta, Manheim is a Cox Automotive™ brand. For more information, visit http://press.manheim.com.