TRADEREV - WHO IS USING IT -- TIPS AND TRICKS

[Ryan Thompson]

Does anyone have experience with Traderev?? I'm not sure if it's in the US but it's definitely big here in Ontario, Canada.

I just signed up and am prowling like crazy trying to pick up some inventory. My main complaint is the amount of time this thing requires. The auctions only run 1 hour and I feel like i'm always 15 minutes too late to research what kind of $$ the vehicles are worth.

I've heard a lot of franchise dealers say they are getting big $$ for their wholesale junkers.

Like how detailed the sellers are and the use of video on some listings.

 

[craigh]

Great tool. Many of the dealers I work with (also in Ontario) have great luck with the tool.
Typically they use it to offload units that just haven't sold on the lot, not as often for fresh units.
A couple of the dealers have a TradeRev step automatically at the 90th day for any inventory to ensure they don't cross the threshold.

That said, there's alot of creativity in play on there that some of them make work:

• OEM offers lease buy back to dealer -> dealer posts on TradeRev before buying -> car sells on TradeRev before dealer owns it (brilliant)
• Dealers flip lower quality tires/brakes to cars before selling (thankfully rare, reviews help avoid this)
• Many/some auctions don't go to a sale because the prices don't go high enough - can consume alot of time without reward

 

[ErikJonker]

@Ryan Thompson I would say use Traderev who is a subsidiary/owned by ADESA to sell your aged or beaters but be very careful about what you buy on it.

My experience is that these cars being listed are not being called right. Since the Seller is taking the pictures and noting the damages the seller is picking and choosing what to mention and what not to, even though the policies of traderev clearly state that the car needs to be called right. One of my first buying attempts was for a 2009 Subaru that looked like a pin and needed rear bumper paint and that's it. Car shows up like it trashed and scratched on every body panel.

I will sell on Traderev but not buy anymore.

 

[Ryan Thompson]

@Ryan Thompson I would say use Traderev who is a subsidiary/owned by ADESA to sell your aged or beaters but be very careful about what you buy on it.

My experience is that these cars being listed are not being called right. Since the Seller is taking the pictures and noting the damages the seller is picking and choosing what to mention and what not to, even though the policies of traderev clearly state that the car needs to be called right. One of my first buying attempts was for a 2009 Subaru that looked like a pin and needed rear bumper paint and that's it. Car shows up like it trashed and scratched on every body panel.

I will sell on Traderev but not buy anymore.

Hey Erik,

That sucks that you were dealt a bad hand on the Subaru. I'll keep everyone posted once I actually buy or sell something. Right now I'm just getting into the swing of being on high alert as the auction only lasts one hour.

Also, it's annoying bidding on trade ins that are not sold... for a guy like me, I don't have time or resources to spend time bidding unless it's something I'm actually going to get. Wasting 2 hours in Q&A to find out a dealer didn't win the deal isn't the best use of my time.