Ally marks auction of five million vehicles online

Automotive financial services company Ally Financial has announced that a total of five million vehicles have now been sold on its specialist online auction platform, which has been operating for 15 years.

“The key to our success has been utilizing feedback from our dealership community and leveraging our relationships with independent auctions, rental and fleet companies, and other vehicle consignors to create the best experience online,” said Steve Kapusta, vice president of dealership online services and remarketing at Ally. “As buyers and sellers have grown more comfortable with online auctions, we’ve been able to grow the platform, expanding the virtual inventory of vehicles and incorporating new technology and tools that make purchase and sale transactions easier and faster every day.”

Since launching in 2000, SmartAuction has grown into a nationwide network of virtual inventory, bringing together more than 8,000 wholesale buyers and sellers to bid on 22,500 vehicle listings each day. Nearly 1,200 different makes and models of cars, trucks, SUVs, motorcycles and RVs are represented, and buyers and sellers include auto makers, dealers, banks, fleet/rental and auction companies.

SmartAuction holds a daily online auction where users can bid live on thousands of vehicles nationwide. On the platform, buyers can create custom search criteria and schedule alerts to help them target specific cars, and then bid on the vehicles that meet their criteria in real time or via an auto bid feature. Sellers can create and manage vehicle listings using SmartAuction’s helpful tools and answer questions from potential buyers during the auctions. Both buyers and sellers are pre-screened and validated to ensure smoother, more professional transactions and inspire trust from the user community.

The SmartAuction app for iPhone and Android was launched in 2013, enabling users to purchase a vehicle and pay for it automatically using their credit line in just three touches. The app has an average of 22,500 log-ins each month, and usage has doubled between September 2014 and September 2015.

“Reaching five million sales on SmartAuction is a testament to the performance of the platform over the years, and its ability to generate value for buyers and sellers around the country,” Kapusta said. “Ally is proud to have strong and trusted relationships with dealers and SmartAuction is just one of the many leading products and services that we offer to help them succeed.”

To celebrate the milestone, Ally held a special auction for the five millionth vehicle, with proceeds promised to the auction winner’s selected charities. Classic Chevrolet of Grapevine, TX won the vehicle with a bid of approximately $180,000, which will be divided among ten charities in the Dallas area.