New sellers for ATC Open include: Chase Auto Finance, Porsche Financial Services, and Dollar Thrifty Automotive Group. By combining these new sellers with the existing ATC institutional sellers such as Chrysler Financial, Subaru Leasing, Volkswagen Credit, and Enterprise Rent-a-Car, buyers can access vehicles sourced nationwide and made available to dealers before they are sent to physical auction or through other channels.
ATC Open was designed specifically to increase dealer confidence in using online auto auctions as a channel and to ensure deals negotiated on ATC Open are fair and accurate. To this end, ATC offers a suite of tools and services tailored to dealers, such as detailed third-party vehicle condition reports, high-resolution photos of cars, vehicle history reports, title and payment insurance, and fair arbitration policies.
“Everybody wins with ATC Open,” said Mark Jensen, COO, ATC. “It is a fair and open national marketplace providing dealers with a better way of buying wholesale inventory, and providing sellers an opportunity to cost-effectively reach a national audience of qualified buyers.”
ATC Open features the following new capabilities:
ATC Open also features a suite of post-sale services, such as vehicle transport, title processing, and payment processing.
ATC Open will also feature a separate program for dealer-to-dealer online auctions called iDEAL (Inter-Dealer Electronic Auction Lane). iDEAL allows any licensed North American dealer to list inventory for sale to a large nationwide network of dealers in order to free up retail space and make better use of capital. By bringing independent and franchise dealers together online, iDEAL allows sellers to wholesale aged and trade-in inventory, but without needing to physically move it, eliminating the costs, fees, time and effort normally associated with disposing these vehicles.
Any dealer or institutional seller with a computer and Internet connection can start using ATC Open by visiting www.atcopen.com and filling out a simple one-page registration form. To access iDEAL, click on the “sell” section on the site and enter the car’s vehicle identification number (VIN). The system will then walk the buyer through a few short steps to get the vehicle listed.