ATLANTA – Manheim is helping Nissan Motor Acceptance Corp. and Infiniti Financial Services keep their off-lease, or “grounded,” vehicles on the fast track to new owners with the introduction of an end-to-end grounding and remarketing solution. The program harnesses Manheim’s vehicle remarketing technology and expertise to significantly reduce the time an off-lease vehicle idles “on the ground” – and on the consignor’s books.
Designed specifically for Nissan Motor Acceptance Corp. and Infiniti Financial Services’ unique needs, the program starts to save time and money the moment a vehicle reaches the end of its lease term and is grounded at a dealer. Manheim built a web-based solution called Remarketing Portfolio Manager (RPM) for Nissan Motor Acceptance Corp. that begins the process by allowing grounding dealers to electronically submit a Federal Odometer Statement. From there, a simple and seamless four-step process gives both partners the flexibility to offer the grounded vehicle to the most likely buyers first, starting with the former lessee.
If the lessee opts out, the grounding dealer can opt in and has the exclusive right to purchase the vehicle until the end of the following day. If the dealer declines, Nissan and Infiniti dealers are invited to a closed sale on OVE.com, Manheim’s 24/7 online wholesale vehicle marketplace. Should the vehicle remain unsold, it moves to an open sale at a Manheim auction.
Changing market conditions and industry challenges are making efficient off-lease inventory management and reduced days-to-sale even more critical for large-volume vehicle consignors.
“We are constantly rethinking the traditional remarketing cycle as customers ask us to help them push the process further and further upstream,” says Nick Peluso, senior vice president, customer management, Manheim. “Nissan Motor Acceptance Corp. and Infiniti Financial Services’ grounding and remarketing solution is a great example of just how far upstream off-lease vehicles can be efficiently managed with the right technology, tools and experienced team support.”