The Appraisal Lane, a mobile app that connects auto dealers with a community of appraisers and buyers, recently reached 100,000 live vehicle trades through its app, according to the company.
“Our community is both a sales channel and a used car inventory acquisition channel, and dealers use it differently depending on their needs. What’s important is that they’re using it to make more retail and improve their business and that’s what makes this milestone so significant,” said Andrew Lorgulescu, co-founder and president of the Appraisal Lane.
Launched roughly two years ago, the Appraisal Lane allows dealers, appraisers and buyers to connect in order to move used car inventory. Appraisers within the Appraisal Lane community evaluate thousands of cars each month across all makes and models to provide valuations for vehicles exchanged within the app.
“The Appraisal Lane’s Buyer Network enables dealers to buy in-demand inventory from virtually any curb, anywhere,” according to the release.