A Frictionless Connection Between Dealerships & Private Party Sellers
Instant Cash Offer (ICO) transforms the traditional vehicle acquisition process by providing a convenient solution to obtain quality used vehicles from private parties. These vehicles are brought directly to your dealership for inspection and validation, eliminating the operating and transportation costs associated with traditional acquisition methods and sources.
Revitalize your inventory sourcing process and attract highly qualified buyers, all while enhancing the experience you deliver to your customers with ICO!
Recent Shifts to Market Dynamics
Prompting a Rethink of Traditional Inventory Acquisition Sources
TRADE-IN FREQUENCY
HAS DROPPED
Trade-ins don’t occur with the same frequency as they once did, creating a greater need for new acquisition sources
AUCTIONS HAVE
BECOME UNRELIABLE
It has become more difficult to acquire inventory from traditional sources like auctions:
- High prices
- Increased competition
- Rising cost of vehicle reconditioning, transportation and buying fees
COMPETITIVE OFFERINGS
ARE ON THE RISE
Ramp up in consumer offerings to get instant vehicle valuations and obtain a purchase offer prior to sale or trade
Consumer Shopping Insights
We Asked Consumers What They Found Most Challenging When Selling or Trading a Car
of used car buyers believe getting a fair price for their old vehicle is one of the most difficult aspects1
find it helpful to obtain a vehicle valuation online before visiting a dealership2
prefer to receive a vehicle valuation through a third-party3
Source: (1) DIG Insights, Path to Purchase, August 2022. (2) DIG Insights, Contactless Services, January 2022.(3) DIG Insights, Path to Purchase, April 2020.
Instant Cash Offer Modules
Acquire
Introducing Instant Cash Offer – Acquire, your opportunity to gain access to quality pre-owned vehicles to stock on your dealership lot. Consumers enter the Acquire experience directly from the AutoTrader.ca homepage, where they are matched with dealerships that are a good fit for their vehicle. Upon validating the vehicle specifics, condition and valuation through an in-person appointment, you can acquire the vehicle on the spot and transition it directly into your merchandising flow!
Trade
Instant Cash Offer – Trade is an easy way to connect with qualified consumers with quality trades in tow! Consumers enter the Trade module directly through your Vehicle Detail Pages (VDP) on AutoTrader.ca. When the car shopper visits your dealership, you can guide them through the car they are interested in purchasing and concurrently confirm the specifics, condition and valuation of their trade-in, ensuring your margins are protected on both ends of the deal!
Website Widget
Bring the Acquire and Trade experience to your dealership website with a seamless and easy-to-deploy integration. The Website Widget allows consumers to enter their vehicle information directly through your website to obtain an instant valuation for the vehicle they’re looking to dispose of or trade-in.
“A lot of customers feel anxiety about going to the dealer, having the vehicle appraised, thinking that they aren’t getting the right money. It allows the customer to feel comfortable knowing that it’s not just us putting that number – it’s backed by points of data and we can use the AutoTrader name, which is powerful in gaining consumers trust.”
Joshua Preziuso | Pre-Owned Sales Manager
Program Benefits
Identify serious sellers and acquire high-quality vehicles that move through requisite VIN submission
Streamline and enhance the process of appraising and evaluating trade-ins as well as vehicle acquisition opportunities
Leverage data and information from a reliable source to educate consumers about the value of their cars, promoting transparency and trust
Access fulsome insights to identify and bring common problems with vehicles to your attention
How it Works
Generate Cash Offer on AutoTrader.ca
- Consumer enters car/condition
- The tool prices and provides an offer
Vehicle to Dealership Match
- Consumer is matched with dealerships that are a mutual fit
Dealership Connects
- Dealer connects with prospective seller, share value proposition of working with you
Dealer Inspection
- Consumer visits participating dealership
- Dealer validates condition using the tool
Acquire the Vehicle
- Dealer cuts cheque for the vehicle, or;
- Trade valuation deducted from purchase price of new vehicle
Sell for Profit
- Retail or wholesale for profit
Vehicles Acquired With ICO
2016
Median model year
34%
0-5 years in age
40%
6-10 years in age
26%
0-50K mileage
27%
51-100K mileage
Source: (4) AutoTrader Data Warehouse, January – December 2022
We’re Here to Support You
Access to Everything You Need to Get on the Path to Success
- Detailed ‘Dealer Handbook’ featuring consumer communication guide with email scripts and talk tracks
- Dedicated Performance Manager and support team
- Marketing campaign to build awareness and pre-educate sellers
