As consumers hold onto their vehicles for longer periods of time, used car dealers are looking for alternatives to trade-ins and auctions to keep their inventories stocked. One such alternative is Vettx, a platform that aggregates private party listings from a variety of sources, including Facebook, AutoTrader, Craigslist and CarGurus. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Jennifer Torres, spokesperson for Vettx, to discuss how the company’s software speeds up the acquisition process and helps retailers stay up-to-date on the constantly changing market.
Vettx provides used car dealers with a single, centralized location where they can access and manage listings. By simplifying the process of acquiring vehicles from private sellers, the platform makes tracking third-party sellers easy and greatly increases both efficiency and accountability. “Our focus on private party stems from the fact that these accounts often offer high-quality vehicles at more reasonable prices compared to auctions,” explains Torres.
To ensure that used car dealers get access to the best listings, Vettx collects a variety of data regarding each vehicle. “We gather all the information, contact info, history report, and we use industry-standard tools to book the vehicle out and obtain market-specific evaluations,” Torres comments. The platform also uses artificial intelligence to flag potential issues such as suspicious listings, scams or unrealistic deals, allowing users to make informed decisions. Other AI-powered tools included in Vettx allow used car dealers to track make, model, price, location, season, availability and average churn in real time. Additionally, the platform leverages image recognition software to identify vehicles, further accelerating the acquisition process.
Used car dealers looking to integrate Vettx into their operations can also take advantage of the platform’s training services. “Even if you have never bought private party, our experts can help,” notes Torres. “Our training team assists dealerships in setting up the platform, understanding the various features and best practices for managing and following up on leads in private party buying.” The company also prioritizes data security. Users can expect to see thier information protected by stringent security measures, encryption, secure data handling protocols, and major DMS and email integrations.
With its unique features, Vettx creates a bridge between used car dealers and private sellers. “We believe in empowering our clients with the necessary skills and knowledge to make the most of Vettx,” explains Torres. As technology continues to transform the way used car dealers conduct business, the platform will continue to grow and add new features. “We’re committed to continual improvement and are excited to bring more features and advancements to our customers in the near future,” concludes Torres. “Are you going to be on the cutting edge or left behind?”