The VidBid app is used by car dealers to solicit bids from buyers for trade-in vehicles or vehicles that have been in inventory for an extended period of time. Dealers can use this app to capture pertinent information about the vehicle with detailed videos, photos,and options to show its condition. This information is then sent to buyers, allowing them to make an informed bid without physically seeing the car.
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The VidBid app accelerates the bidding process for trade-in customers waiting to conduct business in the dealership.
Auctions are conducted in a blind-auction style where buyers use video, photos, and the vehicle info provided to submit their best bid.
Dealers can request a minimum reserve price. If the requested price is not met, the seller can accept or reject the highest bid.
If requested pricing is not met, the dealer can do a one-time accept, reject or counter offer. The buyer may then also do a one-time accept, reject, or counter offer.
Set up a 15 minute auction to get bids quickly. This feature is useful during a trade-in scenario when time is of the essence.
Dealers can set a buy it now price to expedite a sale.
Invite trusted buyers to join your My Buyers network. Choose to list auctions only to trusted buyers, rather than to all VidBid buyers