Friday, April 18, 2008

So this guy walks in...

We had one of those 'I get it' moments from one of our members recently. We love stories like this:

It was a weekend at a BMW dealership in Reno. The used car manager is out of town (Vegas, we're told). Guy comes in with a 2003 Murcielago. Big Car. And, he wants to trade. (We're told there were some tense moments in the back room.) 

So, the used car manager gets a call (in Vegas, we assume) - hands over his user name and password, the car is submitted, and a couple of bids later there is a working deal. All this in about 20 minutes. Two days later there is a check in the mail and the truck is on its way. We have a new fan.

Ah, I get it. Love this story. 

After all, this is exactly what we concentrate on - every day (even weekends). We do trades better than anyone else. There is no better solution. We help you make your deal during the trade-in process. No risk. Guaranteed.

Like we keep saying - Faster. Safer. Better.


Tuesday, April 15, 2008

Our Guarantee

We've said many times that iLuxCars guarantees every deal. Payment. Shipping. Condition.

One of the things we do to ensure the condition guarantee is to run a CARFAX report on every accepted deal. The report is printed and placed it into the permanent file along with the invoice and purchase order from the deal. Every time.

We do this so that we can guarantee that the CARFAX is clean or if it isn't, you've been told about any issues in the report. If the report isn't clean and you don't want the car because of that, we'll unwind the deal.

Occasionally, data is reported to CARFAX well after the vehicle arrives at your dealership. Now, as much as we'd like to tell you this will never happen, we're not CARFAX and we're not in charge of their data.

This means, of course, that we can't guarantee the report will always be clean. However, we will guarantee that it will be clean at the time of purchase.

It goes without saying that we do all of this as part of our solution. Every Time. Guaranteed.

Monday, April 7, 2008

Frustrated?

When we created iLuxCars our goal was to become the wholesale solution for luxury and exotic cars. The decisions we make and the rules we enforce are designed to realize this goal.

One of the advantages to the way that iLuxCars works is that it allows you as sellers to broadly distribute your vehicle to a large (growing larger every day) group of qualified buyers instantly. For buyers, there simply is no other place that gives you a chance to bid on big cars during the trade process.

We're unique. Oh, you say - it's just an auction. Well, almost. While iLuxCars feels like a traditional auction the choice to accept or reject the bid is up to the seller. Being the high bidder doesn't always mean you buy the car. Why? All of the vehicles on iLuxCars are Live Trades. The retail deal around the vehicle, even though your money is likely the best money, may not happen.

We sense a bit of frustration with this and frankly, we're a little confused. All auctions work this way. Even large auctions (Manhiem, for example) close less than 50% of cars that run. These are cars, remember, that are owned by the seller and have been trucked to the auction at the expense of the seller.

The close rate for an iLuxCars transaction is almost 25%. We should repeat this. Nearly 25% of the vehicles submitted on iLuxCars result in successful transactions. These are Live Trades that are NOT owned by the selling dealer and haven't been trucked anywhere.

The important thing about all of this is that if you are the high bidder on a vehicle you will, on average, end up winning 25% of the time.