Most buyers will not consider purchasing a vehicle that has a “check engine” light illuminated simply because there is no way to calculate the cost of repairs needed to make the car “front line” ready. Some dealers have learned there can be good money to made on vehicles that have been passed up by the masses and bring their own reader to the auctions in an effort to estimate what they should pay for the vehicle and still make a profit. Unfortunately, this method is time consuming and more often than not ends up as an “if bid” because understandingly there were just too few bidders willing to take a chance on the unknown.
The Autoxloo VIR™ Vehicle Inspection Reporting tool now features the ability to connect to an OBD2 (On Board Diagnostics) diagnostic reader via W-Fi or Bluetooth. For the first time a comprehensive scan of all electronic systems that provides a list of error codes with descriptions is now available as part of a vehicle inspection report.
We added this feature because the increase in transparency as a whole is a win-win for all parties involved (buyers, sellers and auctions).
- The dealers can now have more buying opportunities to purchase vehicles that they would have otherwise never considered.
- The seller makes more money as a direct result of more “eyeballs” now interested in their vehicle (more bidders equals higher prices).
- Lastly the auction benefits by increasing sell through rates of once considered “less than desirable inventory”, reduces arbitration requests and improves buyer confidence.