Manheim to Adopt Standard
e-Condition Report,
Arbitration Policy
February 24, 2009
ATLANTA — In order to provide its customers with a greater level of consistency and accuracy during sales, Manheim is standardizing its electronic condition reports and arbitration policies early next month.
Historically, the information found in condition reports and arbitration policies — as well as their respective formats — has varied by consignor.
On March 6, however, Manheim is implementing a single arbitration policy for all vehicle inventory purchased online or in-lane. Up to this point, there has been a separate policy for online purchases.
Three days later, the company will begin a phased rollout of its InSight ECR as the standard condition report for all consignors.
This tool uses AutoGrade — the grading scale of Manheim and the National Auto Auction Association — which can help eliminate subjectivity and errors.
"Manheim's partnerships with our customers are the driving force of our success," explained Nick Peluso, senior vice president of customer management. "With more vehicles being bought and sold online, it's essential that we provide our customers with consistent, streamlined standards and policies when they do business with us.
"As the remarketing leader, Manheim believes it is important to drive these changes that ultimately will make buying and selling vehicles an easier, more efficient process for all of our customers," he continued. "That has been our philosophy for years, and it is why we are continually looking for ways to implement best practices."
Discussing InsightECR in more detail, Peluso noted that nine consignors exclusively use this product, including Volkswagen Credit and BMW. Some of its benefits include:
—Providing the same format/platform for every car and customer.
—Providing full-disclosure of conditions or damage that impacts the value of a vehicle and/or may require reconditioning for retail sale.
—Including a list of equipment, options, accessories and aftermarket items.
—Requiring seven mandatory photos in addition to photos of any vehicle damage.
—Creating a more efficient vehicle check-in process.
—Including a more buyer-centric online vehicle display.
Meanwhile, Manheim's new arbitration will include the following specific changes with regard to online purchases:
—Sellers are required to accurately disclose vehicle condition and equipment to include any cosmetic defects.
—Time frame for buyers to arbitrate is two days from the day of receipt, not to exceed 10 days from day of purchase
—Buyers may arbitrate for any undisclosed cosmetic defects more than $500.
"Manheim has always been — and always will be — committed to improving the vehicle remarketing industry," Peluso indicated.
"Over the years, we've worked hard to put ourselves in our customers' shoes and deliver the type of consistent auction experience they've asked for," he continued. "These condition report and arbitration standards are just the latest example of that commitment."
Reproduced from Auto Remarketing.com
