Features

FEATURES

 

ADVANCED SEARCH TOOLS

At SPEEN buyers can browse auction listings or, by using advanced search tools, can search and find cars. In a few months, SPEEN will implement the “NAC notification” feature that will allow buyers to set up notifications for when the car they want is listed on auction.

 

PAYMENT AND TITLE PROCESSING

SPEEN facilitates DMV paperwork, check titles, clerical errors and transferability.

 

SECURE PROCESS

SPEEN accepts payments through ACH and NextGear.

SPEEN has a tracking system for the car’s location from the time it’s bought to the time it’s delivered.

SPEEN shows buyers all the information about sellers – currently only new car store franchises.

SPEEN bills buyers only when the title is ready to be transferred.

For now, SPEEN sells cars “as is”, but in a few months SPEEN will upgrade the Arbitration Policy to give buyers more confidence while buying cars through the SPEEN Online Auction.

 

LAST CHANCE NEGOTIATIONS

At SPEEN, if the reserve price is not met, highest bidder can negotiate directly with the seller and SPEEN doesn’t participate in the negotiation process.

 

COMPREHENSIVE CONDITION REPORTS

All vehicles on SPEEN are pre-inspected with comprehensive condition reports powered by certified inspectors and automatic transportation arrangements. SPEEN allows buyers to see more information about the vehicle than at a physical auction or on any other car buying sites. Car inspection is free for both sellers and buyers.

 

BUY BACK GUARANTEE

SPEEN is ready to buy back any car bought, if car condition does not meet buyer’s expectations.

 

PROFITABLE

No sign-up or monthly fees

Lowest transaction fees. On SPEEN buyers buy at the most competitive price since SPEEN makes it possible for sellers to cut reserve prices:

• Cars remain on seller’s’ lots until sold
• Car inspection is free for both sellers and buyers
• We don’t charge sell fees

 

DAILY AUCTIONS

As soon as SPEEN successfully signs enough sellers, daily auctions will be implemented. Daily auctions will help buyers optimise their daily business operations.