Top 10 FAQs About Buying Wholesale On OPENLANE
3 mins
Welcome to our guide on buying wholesale through OPENLANE! Whether you’re new to the platform or looking to refine your approach, understanding the ins and outs of buying can make a big difference. To help you navigate the process smoothly, we’ve compiled the top 10 frequently asked questions about purchasing wholesale on OPENLANE.
1. How do I set up my account?
To start the simple sign-up process, visit openlane.com/sign_up. There you will have to enter your name, contact details, dealership information (type, address, phone number) and more.
Once your account is created, you can also enter your dealership license and driver’s license information to be able to browse and view inventory. You’ll be ready to start bidding and buying once all your information has been verified.
If you have any questions along the way, an OPENLANE representative will be happy to help you.
2. What are the buy fees?
The buy fee depends on the purchase price of the vehicle, but OPENLANE is proud to offer the most competitive base fees* in the industry.
3. How will the vehicle be delivered?
We use local and national transportation vendors to help deliver vehicles right to your lot, or wherever you may want it delivered. Transportation is built right into the OPENLANE marketplace, allowing you to easily select and schedule how and when your vehicle will be delivered.
4. Can I get a condition report?
Yes! On OPENLANE, 100% of vehicles have detailed inspections and test drives conducted by knowledgeable inspectors. Inspections are consolidated into a condition report, allowing you to have a complete picture of the vehicle. OPENLANE condition reports feature:
- An easy-to-read layout to quickly determine if the vehicle has disclosed issues
- Visual Boost AI™, an AI-enhanced exterior detected damage visualization
- Engine noise audio files, photos and more
- Code Boost IQ will alert you when any trouble OBD2 codes are indicated
- Complimentary AutoCheckⓇ on all listings
5. Can the vehicle be returned if not as described?
Yes, after purchasing a vehicle on OPENLANE and if the As Described Guarantee is purchased, the As Described Guarantee applies for 5 days from purchase or 7 days from delivery if using OPENLANE transport. For full As Described Guarantee coverage details, visit the OPENLANE Buyer Arbitration Policy.
6. I’m in a hurry — how can I find vehicles that will sell today?
We’ve got you covered with Absolute Sale, an exclusive sale format that empowers buyers to easily identify vehicles they can win quickly same-day. Buyers can use the Absolute Sale filter from 8 am to 3 pm CT, Monday through Sunday, to find and place bids on vehicles, with each vehicle sold to the highest bidder by 3 pm CT. If a vehicle receives a bid within three minutes of its timer expiring, the vehicle will go into extension and allow time for more bids.
7. I like to source my inventory on set days and times — is that possible?
Yes! OPENLANE’s scheduled auctions are held weekly on Monday and Thursday from 2 pm to 4 pm CT. Prior to the auction, you’ll have the opportunity to review all available vehicles and their starting bids. Add vehicles to your watch list and set up auto-bid to ensure you don’t miss out. And of course, you can also bid and buy fresh inventory 24/7 via our Marketplace listings.
8. How do I sift through all the options to find the inventory that’s right for my lot?
Start by using OPENLANE’s search function at the top of the platform. Filter your results by criteria such as location, year, engine noise, transmission issues and seller type using the options on the left side of the screen. If you like the types of vehicles you are finding, you can click “Save Search” in the upper right corner. Once the search is saved you can come back to it, allowing you to easily find the inventory you’re most interested in. You will also receive notifications when vehicles matching your saved search are listed.
9. How do I floor a purchase?
OPENLANE partners with most major floorplan companies. For floorplans other than AFC or NextGear, an administrative fee applies to each purchase. You can add your floorplan to your account here.
10. How do I contact OPENLANE?
You can contact OPENLANE by using the chat button at the lower right-hand corner of the marketplace, emailing us at [email protected], or calling us at 855-925-2252.
Start Buying Wholesale on OPENLANE Today
These top 10 FAQs are designed to help you navigate the platform with confidence. Should you have any further questions or need assistance, OPENLANE’s support team is here to help.
Register now and start filling your lot with inventory.