FAQ about remarketing your repos online with OPENLANE
You Have Questions. We Have Answers!
Why should you remarket your units through OPENLANE? What is the average time it takes once a car goes live to sell? What are the costs for remarketing on OPENLANE? Is it hard to list cars on the site? How do we get paid for the sale? At what point after the debtor's redemption period can the vehicle be up for sale on OPENLANE? What are the requirements for Lenders to remarket on OPENLANE? Does my unit have to be transported to this auction? How do I know the values for my vehicles? Our units are washed and cleaned-up at the physical auction… how do we receive that same service? How do I get started?
Why should you remarket your units through OPENLANE?
OPENLANE is a leading online auction with over 25,000 dealers registered in the U.S. and Canada.What is the average time it takes once a car goes live to sell?
Average time to sale is 3 days.What are the costs for remarketing on OPENLANE?
It's free to list. OPENLANE charges a $125 sale fee. If the collateral doesn't sell, there is no charge.(Fee covers OPENLANE sell fee only.)
Is it hard to list cars on the site?
It's very easy… OPENLANE is integrated with two nationally recognized Third Party Inspection companies that will do a condition report, shoot high-resolution photos and automatically upload the listing for an $85 fee (includes test drive). You can also do a self-inspection utilizing OPENLANE's electronic one-page template that walks you through the listing process.How do we get paid for the sale?
OPENLANE funds the day after we receive the title from the Seller, so as soon as the unit sells, we recommend sending the title.We deduct the sale fee from the proceeds but not the Third Party Inspection. Inspections are invoiced monthly.
At what point after the debtor's redemption period can the vehicle be up for sale on OPENLANE?
The unit can be sold on OPENLANE the very next day after the redemption period expires.What are the requirements for Lenders to remarket on OPENLANE?
The Lenders are asked to fill out a Non-Dealer Consignor Agreement and an ACH Form to list their unit(s) on OPENLANE.Does my unit have to be transported to this auction?
No, everything is done online and the buyer pays for transport from the lot to their dealership.How do I know the values for my vehicles?
Every seller is assigned an OPENLANE remarketing specialist who will provide advice on pricing strategies. Additionally, up-to-date Black Book Wholesale values and similar OPENLANE sales are available in our online Market Value Guide.Our units are washed and cleaned-up at the physical auction… how do we receive that same service?
Contact your Recovery Agent. Most are set up to cut keys and provide light reconditioning services.How do I get started?
Please contact a remarketing specialist at 866-366-4026 for more information.
Testimonials
Pete, heard nothing but good things about your company. Keep up the good work!.
–Curt Thompson (Renaissance Recovery Solutions)
I just wanted to send sincere thanks for the excellent job you’ve been doing.
– Mary Winstrom (Renaissance Recovery Solutions)
Congratulations, You were top ranked RRS Affiliate for April 2005, You had a 100% recovery rate! Keep up the phenomenal work!
– Michael Krueger (Manager Affiliate Relations,Renaissance Recovery Solutions)
Windsor considers Judgement Recovery “our” agent for the state of Washington
– Holly (Windsor Recovery 214-647-3580)
We love working with JRC, you always recover timely, give prompt updates, always release the cars, in fact you do everything that we need you to do well. You are a trusted agent.
– Abby Dunn (Johnston & Brown 972-226-1333)
We are very pleased with the service you have provided us and would certainly call you again.
– Steve Vandenberg (Terrace Bank)
You are very reliable, we have had very few issues to call on, no complaints, and if you covered more area, we would send you as much work as we have.
– Heather (Remarketing Solutions 615-762-2487)
…we are more then satisfied with the work Judgement Recovery provided for our company.
– Sly Martin (Nationwide Remarketing Company)