Institutional sellers like banks, credit unions, leasing, rental, and fleet companies are recognizing the financial rewards of selling their best vehicles in the retail marketplace using Retail My Ride's network of consignment dealerships versus the traditional conveyor belt approach of running everything through wholesale auctions.
FORT WORTH, Texas, Jan. 17, 2024 /PRNewswire-PRWeb/ -- Retail My Ride announces the launch of its newest product, Bulk Retail Consignment, designed to provide select auto dealerships with exclusive access to institutional sellers' best vehicles. Retail My Ride has partnered with a large consignor company to sell their national clients' late-model cars, trucks, and SUVs on consignment in Texas, Georgia, and Florida. Retail My Ride and its partner expect the list of states, the number of institutional sellers and the volume of eligible retail consignment vehicles to grow dramatically in 2024.
Since 2017, Retail My Ride has remained the first and only online network of independent retail consignment dealerships, including auto dealers, RV dealers and motorcycle dealers. According to Jim Horan, Retail My Ride's CEO and Founder, "Our efforts continue to be laser-focused on building and supporting our online community to bring all types of automotive sellers (private and now institutional) and retail consignment dealerships together; a platform where retail consignment can become the preferred option for millions of auto, RV and motorcycle sellers, and a go-to source of quality free inventory for participating dealerships in 48 states. We are very pleased with the response we are getting from our private sellers, institutional sellers, and our network of dealerships who appreciate the value our unique retail consignment sourcing platform provides."
Bulk Retail Consignment - Program Highlights:
- Above average vehicle condition grades
- Vehicles available for selection weekly
- Selected vehicles shipped to dealers free of charge
- Authorized dealer listing price at "Great Deal" rating
- Average retail value $18,000 – sweet spot
- Average "Turn Rate" is 18-20 days
- Earn flat "Success Fee" per vehicle sold
- Earn revenue on approved in-house reconditioning/repairs
- Keep 100% of Doc Fee, F&I income and trade-in revenue
About Retail My Ride
Retail My Ride is the sole leader and advocate for the growing Automotive Retail Consignment selling option. Through our online platform, RetailMyRide.com, we attract, inform, and connect all types of sellers with licensed automotive dealerships in 48 states that offer professional retail consignment services for one or more vehicles types including: Autos (late-model, classic, vintage, antique, custom, or exotic), RVs, Motorcycles, Wheelchair Accessible Vehicles (WAV), Commercial Vehicles or Trailers.
Sellers use Retail My Ride to learn about the automotive consignment selling option, get connected with a local trusted consignment dealership, enhance their overall selling experience and pocket more cash versus selling privately online or accepting low ball dealer trade-in or instant cash wholesale value offers.
Dealers use Retail My Ride to grow their profits by gaining access to free quality vehicles, eliminating inventory-related costs, lowering their market risk, and reducing their inventory turn rate.
Media Contact
Jim Horan, Retail My Ride, 1 817-805-7332, [email protected], https:\\retailmyride.com
SOURCE Retail My Ride
Share this article