Infiniti Financial Services (IFS) has successfully launched the INFINITI'S 1st CHOICE online live auto auction, which gives Infiniti retailers the first opportunity at purchasing off-lease Infiniti vehicles in a competitive bidding environment while sitting at their desk and bidding online as opposed to a traditional auto auction.
"INFINITI'S 1ST CHOICE offers many advantages to our Infiniti retailers compared to your standard auto auction," said Kevin Cullum, director of Remarketing for IFS. "It saves them time, money and provides them with the first choice of pre-owned Infiniti inventory while still protecting residual values."
The INFINITI'S 1ST CHOICE program is utilizing the Simulcast Everywhere (SE) platform created by Manheim, a global provider of vehicle remarketing services. SE enables retailers to source Infiniti vehicles online and then bid on them through the platform without competing with non-Infiniti dealers. The vehicles will be located at dealerships and will include end-of-lease vehicles prior to being transported to a traditional auction.
Other benefits for the 205 participating Infiniti retailers is that it adds another competitive bidding channel that meets retailer's pre-owned vehicle needs. It also minimizes transportation, auction fees and reconditioning costs and more quickly offers off-lease Infiniti vehicles to retailers.
The auctions will take place four times a week and will provide dealers with weekly access to 400-plus pre-owned vehicles located all over the country.