“There are many types of vehicle fraud. If a seller is selling a vehicle privately and the vehicle is not registered or titled in their name, then there are all kinds of ways they can bamboozle a buyer,” said Tred Founder and CEO Grant Feek.
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.
Cofounder and Chief Technology Officer, Dan Magnuszewski commented, "Virtual Lift™ is exciting because we are solving a big problem for the auto industry with a truly unique and innovative technology solution.