(MENAFN - GlobeNewsWire - Nasdaq) itemprop="articleBody">ESCONDIDO, Calif., Feb. 11, 2019 (GLOBE NEWSWIRE) -- The Dealers' Forum, a leading online automobile auction platform, today announces a corporate rebrand to CarWave . The comprehensive rebrand streamlines the company's multiple domains, MyFreshTrades.com and TheDealersForum.com, and provides a refreshed user experience.
CarWave is an online automobile auction platform that simplifies the wholesaling of trade-in and frontline vehicles between franchise and independent auto dealers.
All vehicles listed on CarWave include detailed condition reports performed by ASE Certified Mechanics. Unlike traditional auctions that sell both 'as-is' and 'guaranteed' cars, all cars on CarWave are guaranteed as described in the inspection report. Regardless of year or mileage, there are no surprises when the purchased vehicles arrive at the buying dealership. This assurance helps dealerships increase profit margins by avoiding costly engine and transmission problems or unexpected reconditioning costs.
"Dealership margins have come under tremendous pressure over the past ten years. We founded the company with the goal of using technology and a new business model, which eliminates the costly overhead of traditional auctions," said John Lauer, President of CarWave. 'By bringing the auction to the dealership, we increase profit margins and provide a more convenient experience for both sellers and buyers.'
For car buyers, the platform's fees are less than those of competing auctions and there are no 'online simulcast' fees that traditional auctions charge. Additionally, CarWave helps avoid the hassle of auction houses for both buyers and sellers – no bad run numbers, no sabotaged cars, no shipping costs, no inspection fees, and no sell fees.
With more than 35,000 vehicles sold in 2018, CarWave is California's largest dealer direct network and is currently expanding into additional states, including Arizona and Nevada. The company is also preparing a major software update, which will provide improved functionality and is slated to launch in Q2 2019.
Founded in 2009, CarWave is the dealership's eyes and ears when purchasing a wholesale vehicle. The company is displacing the $100 billion traditional brick-and-mortar wholesale automobile auction industry with its innovative, internet-based business model. By using the platform, franchise and independent dealerships can increase profit margins, find high-quality cars easier, and avoid the operational headache of traveling to auction houses each month. For more information, please visit https://www.carwave.com .
Media Contact: Luke Lappala