Requirements And Benefits
For Auto
Auctions.
Turn-In Center Benefits
Stronger dealer relationships: BuyBook Technologies ties
subscribing dealers to you by directing them to bring all BuyBook
Technologies’ vehicles to your location.
New kinds of vehicles: BuyBook Technologies brings “upstream”
vehicles to your location by purchasing vehicles from consumers,
without cutting out dealers.
New revenue stream: Turn-in centers act as sales agents and
receive ongoing royalties for each referred dealer who becomes a
BuyBook Technologies subscriber.
New consignor with high-sales percentage and high-volume
potential: R. Hollenshead Auto Sales sells at approximately 90%
at Manheim Pennsylvania. When you become a BuyBook Turn-In
Center, R. Hollenshead Auto Sales can become your biggest seller.
Turn-In Center Process
Auto auctions that serve as BuyBook turn-in centers perform
six functions:
Confirm
the vehicle description
The turn-in center logs on
to the BuyBook Technologies website to get a copy of the vehicle
description. Turn-in center personnel then inspect the vehicle to verify
that the description is accurate, which includes using a paint meter to
catch previous paintwork. The turn-in center also pulls a Vehicle
History Report to verify that all information on the VHR is
included in the description, and that the vehicle hasn’t been
sold at any auction in the past 45 days
If the vehicle description is inaccurate, the turn-in center
enters the accurate information into the BuyBook Technologies
system, which will return a new price for the vehicle. The dealer
can accept the new price or take the vehicle back to their
dealership.
Note that vehicles that have been sold at auction in the past
45 days are not eligible for Trade In$urance™.
Pay the dealer for the vehicle
The turn-in center pays the dealer for the car using the following process:
•Verify receipt of a negotiable title.
•Issue
the dealer a draft for the guaranteed price of the vehicle.
•Add the vehicle to R. Hollenshead Auto Sales’ inventory at that location.
•Pay the dealer with an auction check 72 hours after confirmed
receipt of vehicle and title.
Perform a “pre-sale post-sale” inspection
The turn-in center performs two additional inspections on each BuyBook
Technologies vehicle:
• An inspection that can be attached to the vehicle
for online sales.
• A “pre-sale post-sale” inspection that identifies
any arbitrable items prior to the sale.
BuyBook Technologies vehicles are not
subject to post-sale inspections.
Store the vehicle securely until the next sale
The turn-in center will perform a detail on each vehicle and store
it securely in an area reserved for vehicles.
Recondition the vehicle as per instructions from R.
Hollenshead Auto Sales
The turn-in center will make
repairs as directed by R. Hollenshead Auto Sales, and will post
the vehicle on any online system, if requested. All expenses associated
with BuyBook Technologies vehicles will be tracked by IMS.
Represent the vehicle in the next sale
The turn-in center will represent the vehicle at the next sale using R.
Hollenshead Auto Sales’ lane placement system to order BuyBook
Technologies vehicles. R. Hollenshead Auto Sales’ expectation is
that BuyBook Technologies vehicles will receive favorable lane
position, auctioneer assignment, marketing and representation.
Our objective is to sell 90% of BuyBook Technologies vehicles on the first run,
at 100% of MMR. Turn-in centers that achieve this objective will
receive bonus sale fees from R. Hollenshead Auto Sales.
Additional Services
Turn-in centers will provide local support to BuyBook
Technologies by designating a single point of contact at each
location. This person must be reachable 9:00 am to 4:00 pm,
Monday thru Friday, and provide a cell phone number to R. Hollenshead
Auto Sales. The POC will provide detailed post-sale reporting, and when
critical mass (50 vehicles/week) is reached, consistent lane and
numbers.
It is the dealer’s responsibility to arrange vehicle turn-in
by appointment, and to cover the cost of transportation to the
turn-in center.
Turn-in Center Revenue Opportunities
Turn-in centers have the opportunity to generate a new
revenue stream by acting as BuyBook Technologies sales agents. As
sales agents, turn-in centers market Trade In$urance™ to dealers
who attend their auctions. Turn-in centers receive an ongoing
monthly royalty payment for every referred dealer who becomes a BuyBook
Technologies subscriber. For example, if your auction refers 200
dealers and receives $50/month for each dealer, you will generate
new revenue equal to $10,000/month.
Acting as a turn-in center will bring new consignment to your
auction. If each dealer were to bring only one new vehicle per
week to auction, 52 weeks per year, R. Hollenshead Auto Sales
would quickly become one of your auction’s biggest consignors.