Have you ever gone shopping at Ross? It’s a store that consists of designer merchandise that was not sold at their original location and sent to Ross to be resold at a more reasonable price. This is similar to the role remarketing companies play in the automotive industry.
Since 2008 Big Valley Auto Auction has offered remarketers a platform to sell their inventory to Big Valley buyers, offering them a larger selection of vehicles to choose from.
In this article, you’re going to learn what a remarketing company is, how many work with Big Valley Auto Auction, the types of vehicles remarketing companies sell, and the benefits of buying vehicles from remarketing companies.
After reading this article, you’ll have the information needed to decide if you should buy a vehicle from a remarketing company.
What is a Remarketing Company?
A remarketing company is a company that reintroduces vehicles into the marketplace. However, they are not dealers. They are companies that receive vehicles from non-dealers and resell them at auto auctions.
There are 3 types of remarketing companies:
- Fleet lease
- Financial institutions
- Third-party remarketers
How Many Remarketing Companies Does Big Valley Auto Auction Work With?
Big Valley Auto Auction works with 25-30 different commercial and remarketing accounts. These include local and national subprime finance companies and credit unions.
In order for Big Valley Auto Auction to work with these companies, we are required to undergo an annual compliance review and to follow guidelines set by the Consumer Financial Protection Bureau (CFPB) to qualify. The purpose of this review is to ensure that our seller’s customers receive fair treatment from banks and other financial institutions.
What Types of Vehicles Do Remarketing Companies Sell?
Remarketing companies sell the following vehicle types:
- Banks repos/repo RVs
- Off lease
- Fleet vehicles
- Specialty vehicles
What Are The Benefits of Buying Vehicles From a Remarketing Company?
These are the 4 key benefits of buying vehicles from a remarketing company:
Pre-Inspected Vehicles
All vehicles brought into Big Valley Auto Auction from remarketing companies are pre-inspected. These pre-inspections include mechanical checks, photographs and repairs, to prepare the vehicles for frontline display and retail.
Remarketer’s vehicles must be sold within a legal time limit, which is why their vehicles are prepared as thoroughly as they are.
Realistic Prices
Remarketers are very realistic when it comes to pricing their vehicles. Their vehicles are more likely to sell because they are aware of current market rates and tend to anticipate market trends.
Accurate Representation
When it comes to big name companies, there is a high level of integrity. Companies don’t want their brand associated with misrepresentation or deceptive practices. Because of this, they represent their vehicles accurately. If their vehicle is running as a green light, it is a guaranteed green light.
Rebates
Depending on the remarketer, certain companies will pay back buyers and offer rebates for buying vehicles from them.
Should I Buy a Vehicle From a Remarketing Company?
If you’re someone who prefers to buy merchandise from Ross, then remarketing vehicles might be a good choice for you.
Whether you’re new to auto auctions or you’re just unsure what remarketing companies offer, you can use this article as a guide to help you understand the role remarketing companies play in the automotive industry.
If you're interested in buying remarketing vehicles from Big Valley Auto Auction, click the button below to speak with our dealer registration specialist to get you registered.
Not ready to talk? That’s okay! First, learn more about what it’s like to buy and sell at Big Valley Auto Auction by clicking the image below:
