TradeRev has announced the release of TradeRev 4.0, the most advanced version of its mobile app.
The newly updated platform leverages data and predictive modeling to deploy new features including bid assist, which aims to make digital auctions more efficient by detecting and erasing unrealistic bids using data analytics and machine learning models.
Additionally, as a business unit of KAR Auction Services, the new platform release also integrates KAR capabilities that are designed to help dealers complete auction transactions directly from their mobile devices, according to TradeRev.
“TradeRev has a simple goal – to make buying and selling cars as fast, fair and easy as possible for dealers,” TradeRev president and chief legal officer for KAR Auction Services Becca Polak said in a news release.
“TradeRev 4.0 supercharges our app with analytics and machine learning and continues to leverage the power of the KAR platform. We’ve simplified the entire in-app auction experience from scheduling, searching and bidding all the way through post-sale services,” she explained.
Key TradeRev 4.0 enhancements include:
- Seller’s ability to now schedule events for five or more vehicles up to seven days in advance and have the events promoted on the app’s event calendar
- Personalized dealer vehicle recommendations that are generated by TradeRev’s learning software which analyzes buying and selling patterns and industry trends
- The platform’s mobile checkout which allows dealers to complete entire auction transactions on their mobile device, including payment and financing, along with optional transportation and inspection services
- The display of real-time AFC credit line availability for dealers financing vehicles through KAR’s AFC floorplan financing unit, a feature previously only available on the TradeRev desktop edition
“TradeRev was built by dealers, for dealers – so when dealers talk, we listen,” added Keith Crerar, executive vice president of TradeRev, U.S.
“The in-app experience of TradeRev 4.0 directly reflects the back and suggestions of our thousands of customers across North America. And the enhancements to our post-sale process and support team take care of every detail, every time for every customer,” Crerar said.