Manheim, an auto auction company, is launching a new program to begin providing flat rate prices for post-sale inspections. The company stated that auto dealers will automatically receive inspections for every wholesale car purchased and this will provide a consistent price.
The company said the new program can help increase dealer confidence in purchasing decisions within the wholesale used-vehicle marketplace.
Through the program, Manheim said, dealers can reduce their risks hassle free, and the program helps ensure vehicles bought at auction are in the expected condition.
Manheim experts conduct the inspections at the location and protect dealers against unexpected repair costs. Those costs, Manheim said, can cut into profits and cause delays in turning inventory.
The company also said that because the inspections can be applied to in-lane and digital purchases, that adds trust and transparency to the process. And that happens regardless of which channel a dealer decides to use, Manheim said.
The new program allows dealers to now automatically apply a flat rate to either of Manheim’s two existing types of inspections: Limited Powertrain Inspection (LPI) and Post-Sale Inspection (PSI).
Manheim explains that Auto LPI is designed for older, high-mileage vehicles. Auto LPI focuses on structural, transmission, engine, drivetrain and hybrid/electric battery damage.
The company describes Auto PSI as more comprehensive and said it is geared toward low-mileage vehicles.
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