TradeRev has released an update to its mobile app that will leverage KAR Auction Services, Inc. in order to bring a host of new features to its mobile platform, according to a company announcement.
The update, named TradeRev 4.0, is available immediately and will be offered free of charge.
“TradeRev has a simple goal — to make buying and selling cars as fast, fair, and easy as possible for dealers,” said Becca Polak, president of TradeRev and CLO for KAR Auction Services, Inc. “TradeRev 4.0 supercharges our app with analytics and machine learning and continues to leverage the power of the KAR platform. We’ve simplified the entire in-app auction experience from scheduling, searching, and bidding all the way through post-sale services.”
An example of the enhancements brought forth by the update is the ability for sellers to schedule events for future sales of five or more vehicles up to seven days in advance. These events will then be promoted through the app’s event calendar to give prospective buyers a preview of upcoming sales.
TradeRev will now also generate personalized vehicle recommendations based on the technology’s learning software that analyzes buying and selling patterns, along with industry trends.
Additionally, a new bid assist feature will make use machine learning models to detect unrealistic bids. Mobile checkout will allow dealers to complete their entire auction transaction on their mobile device, and for the first time on mobile, dealers will be able to see real-time AFC credit line availability if they’re financing vehicles through KAR’s AFC floorplan financing unit.
Lastly, TradeRev’s mobile app will now allow dealers that select TradeRev’s transportation option to track the status of their vehicle from pickup to estimated delivery date.