In just over two years since launch, The Appraisal Lane has surpassed $100 million in used-car transactions for both live trades and aged units, the company announced Tuesday.
This news comes just a month after reaching up to over 100,000 live trade submissions from dealers via The Appraisal Lane app.
With over 60,000 vehicles that have been processed this year, the provider of buy in-demand inventory for dealers has already outperformed its 2016 records, according to the company.
“This latest milestone validates the fact that dealers have embraced our community as a new way of doing business to improve their used car operations,” The Appraisal Lane co-founder and chief executive officer Jeff Risner said in a news release.
“$100 million in transactions represents actual cash offers dealers took to the bank for live trades while they were busy working with customers, and for inventory they already own. The dealers in our community understand that it’s just good business practice to make The Appraisal Lane a part of their process and to receive cash offers from a team of expert appraisers,” Risner continued.
The Appraisal Lane app is currently available across the entire Eastern Seaboard; Pennsylvania; Ohio; Illinois; Michigan; Indiana; Wisconsin and Minnesota.