How Do OPENLANE Used Vehicle Auction Fees Work?
2 mins
Whether you’re buying or selling wholesale used vehicles at a physical auction or at an online digital marketplace, there are always going to be fees that go along with the process. These fees can vary widely depending on where you’re transacting.
If you’re transacting on OPENLANE, you can feel confident that you’re paying the most competitive base fees in the industry*, no matter which US state you’re located in. As an established, asset-light digital marketplace, we’re able to offer low fees that help protect and even increase your margin — it’s one of the many ways we’re making wholesale easy so you can be more successful.
Let’s break down how OPENLANE’s fees work, and what you can do to ensure you’re paying the lowest fees possible.
Buy Fees
When you buy a vehicle on the OPENLANE marketplace, you will be charged a fee. That fee is based on the purchase price of the vehicle, and includes the title transfer and escrow.
As the purchase price of the vehicle rises, so does the buy fee. When you compare these fees to those of physical auctions and other digital marketplaces, it’s clear that OPENLANE offers the most competitive base fees in the industry.
Sale Fees
OPENLANE will only charge you a fee once you sell a vehicle, never when you have the vehicle inspected and listed. Our experienced inspectors perform comprehensive inspections and list your vehicles for free — just request an inspection, and we’ll be there.
When your vehicle sells, a sale fee will be deducted from the final purchase price. In general, the sale fee is based on performance: the more you sell, the lower your fees will be.
Elite Dealer Program
OPENLANE’s Elite Dealer Program is a performance-based program designed to enhance your business. Elite Dealers earn a special badge, telling buyers you are motivated to close deals quickly. Our Elite Dealers pay a discounted flat sale fee based on vehicle sale price.
The number of vehicles you sell each month, along with your conversion rate, determines your seller status. To put it simply, the more you sell, and the better your conversion rate, the more benefits you unlock. You can check your status at any time on your Seller Stats page.
Enjoy OPENLANE’s Lower Used Vehicle Auction Fees
On OPENLANE, you will save money on used vehicle auction fees, thanks to the most competitive base fees in the industry. On OPENLANE, you’ll only be charged a fee when you buy or sell a vehicle.
If you’re ready to start enjoying lower fees and adding money back into your pocket, just head to openlane.com and start the sign-up process.