Delaware Ford Dealer Launches Tech Start up 20 Group Dealer Trades

SMYRNA, Del., May 23, 2018 /PRNewswire/ -- Franchised Dealers across the country are finding it harder and harder to source used vehicles.  Up to now, the only option has been the large auctions with exorbitant fees as high as $700 per car.  When a Dealer tries to buy a car at these auctions, the prices end up being so high that by the time the car or truck hits the dealership lots, the Dealers can barely make any money.  "We are into these cars at pretty close to retail money," says Santosh Viswanathan, Founder of tech start up, www.20groupdealertrades.com.  On the sell side, when Dealers take a car to the auction, they barely get bids on them. "Why is that?" asks Santosh Viswanathan.

Santosh Viswanathan, Ford Dealer in Smyrna DE, has created a platform called SPIN® where Franchised 20 Group Dealers can launch up their overaged inventory for Dealers to trade, buy or sell from each other.  Each Dealer sets his own time frame of aged inventory to serve up on the platform ranging from 45 days to 100 days or more.  Furthermore, non-competing Dealers can even trade overage inventory with each other.  "Franchised Dealers dotted throughout the U.S. form great exchange networks to trade with each other.  While the inventory problems are ours, we are also the solution," says Santosh Viswanathan.  "The money that greases the wheels of the auctions belong to the Dealers and we are repurposing it on our platform, www.20groupdealertrades.com." Some Dealers are trading cars for as little as $50 per transaction.  This technology is a disrupter in a retail environment where Dealers have largely operated in silos and relied on paying heavy fees at the auctions.  "We've changed that.  We are dealing directly with each other and our platform is saving our Dealers a lot of time and money.  This is a game changer."

SOURCE 20 Group Dealer Trades