TradeRev has eliminated monthly subscription fees for U.S. car dealers, which will allow users to participate in as many one-hour vehicle auctions as they’d like, and only pay fees for completed transactions, the auction portal announced.
“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.”
Along with the news of the removal of its subscription fees, the company also announced that it would be adding two new personalized features for its users: Title Concierge and My Account.
One of the new features, Title Concierge, allows for constant updates on the status of a purchased vehicle’s title. Through the feature, TradeRev will open a line of communication to both the buyer and seller of a vehicle.
Sellers will be contacted about the vehicle’s status immediately after a vehicle is sold up until the vehicle’s title is in the buyers hands. And, buyers will be regularly updated on the title’s status in order to help them better plan and manage their inventory, the company stated.
Meanwhile, the My Account feature will allow TradeRev users to view a summary of their entire TradeRev accounting history on a single page. In addition, the feature will also track all money movement between sellers and buyers and automatically post each transaction in real-time, according to the company.
“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.”