OPENLANE Partners with Volkswagen and Audi for Innovative Application Enhancement
November 08 2017 - 1:00PM
OPENLANE, a business division of KAR Auction Services, Inc.
(NYSE:KAR) and the leading online automotive remarketing solution,
announced an innovative new enhancement for Volkswagen and Audi
dealers. Dealers utilizing OPENLANE’s VolkswagenDirect.com and
AudiDirect.com marketplaces can now receive real-time auto loan
pay-off quotes for retail trade-in vehicles directly in the
application. With fully integrated information from Volkswagen
Credit, Inc. (VCI), the technology allows dealers to enter a
vehicle identification number and receive all financial information
required to complete the pay-off transaction.
“This enhancement could streamline the
upstream remarketing process for Volkswagen and Audi dealers by
eliminating the time and effort required to manually verify
financing balances,” said Peter Kelly, president of KAR’s Digital
Services division, which includes OPENLANE. “VCI and OPENLANE have
been partners for more than fifteen years, and we are constantly
innovating to meet the needs and expectations of modern, tech savvy
automotive dealers. Our ongoing work to enhance OPENLANE will allow
us to integrate additional information and capabilities into the
tool to help customers make more simplified and data-driven buying
and selling decisions.”
The OPENLANE technology provides exclusive online,
upstream marketplace solutions for more than 40 original equipment
manufacturers (OEM), captive finance sellers and their franchised
dealer networks. In 2016, OPENLANE sold more than 750,000 vehicles
to a broad buyer network of franchised and independent auto dealers
in the U.S. and Canada.
About KAR Auction Services KAR
Auction Services (NYSE:KAR) provides sellers and buyers across the
global wholesale used-vehicle industry with innovative,
technology-driven remarketing solutions. KAR’s unique end-to-end
platform supports whole car, salvage, financing, logistics and
other ancillary and related services, including the sale of more
than 5 million units valued at over $40 billion through our
auctions. Our integrated physical, online and mobile marketplaces
reduce risk, improve transparency and streamline transactions for
customers in 110 countries. Headquartered in Carmel, Ind., KAR has
approximately 17,600 employees across the United States, Canada,
Mexico and the United Kingdom. www.karauctionservices.com
Media Inquiries:
Gene Rodriguez
(317) 343-5243
gene.rodriguez@karauctionservices.com
Analyst Inquiries:
Mike Eliason
(317) 249-4559
mike.eliason@karauctionservices.com
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