News

CarOffer, launched in September 2019, is a self-proclaimed “real-time Stock Exchange” for used vehicles, Thompson said. “Its just like placing a limit order in the stock market for Apple shares.”

See the CarOffer cover wrap on Automotive News’ NADA 2020 daily issue.

[CarOffer] says dealers can trade up to 30 percent more vehicles in the first 30 days using the platform, which is “retail automotive’s first automated instant wholesale vehicle trade platform.”

[CarOffer] heads into the new year celebrating record monthly sales of $60M coupled with unprecedented 100% dealer rooftop growth in January.

Company’s Automated Instant-Trade Platform is Transforming How Dealers Buy, Source and Trade for Pre-Owned Inventory

According to CarOffer, dealers can trade up to 30% more vehicles within the first 30 days of implementation.

Company's Automated Instant-Trade Platform is Transforming How Dealers Buy, Source and Trade for Pre-Owned Inventory

Company's Automated Instant-Trade Platform is Transforming How Dealers Buy, Source and Trade for Pre-Owned Inventory

Company's Automated Instant-Trade Platform is Transforming How Dealers Buy, Source and Trade for Pre-Owned Inventory

"We've primarily used CarOffer to acquire inventory," says Mike Miskus, Used Car Manager at Indiana's Team Toyota. "We've purchased over 70 units through the platform in the last couple of months and found it to be a fantastic new way to source upstream vehicles. It's allowing us to continue double-digit year-over-year pre-owned sales increase."

"CarOffer is the best tool we've seen in years – it's powerful and simple to use," says Chuck Kramer, COO of Foundation Auto Corp.

The company heads into the new year celebrating record monthly sales of $60M coupled with unprecedented 100% dealer rooftop growth in January. The perfect storm of an experienced team, a CEO serial entrepreneur, and a no-risk solution has set CarOffer up for early success and a strong outlook for 2020 with rooftop projections in the thousands by mid-year.

"CarOffer's solution is unique and fills a need in our industry. We have successfully bought and sold units on CarOffer, and the system has allowed us to trade for 20-25% more vehicles due to its real-time offers at point of appraisal. And, we enjoy the ability to order our Gold and Platinum units in the system knowing they will get delivered as expected. I encourage every dealer to look at CarOffer."

Bruce Thompson’s latest auto retail business is CarOffer, which lets dealers unload or stock up on used inventory.

CarOffer founder and chief executive Bruce Thompson joined the show from Used Car Week 2019 last month in Las Vegas. Thompson talks about the market challenges his new company aims to solve and more.