REDWOOD CITY, Calif. – OPENLANE, Inc., a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles, today announced a free 30-day Buy-Back Guarantee Plus on qualifying purchases to dealers on its U.S. Open Auction (www.openlane.com) throughout August 2011.

Dealers who purchase dealer-consigned and rental inventory on OPENLANE.com will automatically be enrolled in the Buy-Back Guarantee Plus program in August.  This unique program will allow dealers to return the vehicle to OPENLANE within 30 days of purchase if they are not satisfied.  Additionally, dealers who list vehicles for sale on OPENLANE.com will benefit by having the free 30-day Buy-Back Guarantee Plus associated with their listings on OPENLANE.com making them more attractive to buying dealers.

The OPENLANE Free 30-day Buy-Back Guarantee Plus is unique in the industry with:

• No Post–Sale Inspection required
• A 30-Day qualifying period for Buy-Back
• 100 percent of the OPENLANE buy fee is reimbursable.
• The first $300 in transport fees is reimbursable.

The OPENLANE 30-day Buy-Back Guarantee Plus program covers:

• 100 percent of the vehicle purchase price minus a $500 deductible. Any floorplan, payment processing, reconditioning or remarketing fees and taxes are not reimbursable.
• Reimbursement of vehicle purchase price is capped at 104 percent of mileage-adjusted Black Book Wholesale National Average price as calculated on the online purchase date.

OPENLANE will also continue to offer its standard 10- and 30-day Buy-Back Guarantee programs on remaining vehicles throughout August.

“I love the OPENLANE Buy-Back Guarantee Plus program!  There’s nothing like it as I get a full 30 days to return the vehicle, don’t have to order a post-sale inspection, get a full refund of my buy fee and part of my transport costs are covered,”  said  Mark T. Bernicker, Owner, Bernicker Auto Sales. “Plus when I list vehicles for sale on OPENLANE.com, my cars will be more attractive to buyers as well!”

Additional August Promotions

In addition to the free 30-day Buy-Back Guarantee Plus program, OPENLANE will be offering a number of special promotions for dealers throughout the month of August:

• 25 percent off transportation fees – Eligible only on dealer-consigned inventory purchases on OPENLANE.com and OPENLANE.ca in the U.S. and Canada.  The discount only applies to CarsArrive transport ordered at the same time as vehicle purchase and does not apply to transport purchased at any other time.
• $30 Third Party Inspections – Now dealer-consignors can offer potential buyers greater confidence in their vehicle listings and improve their sales success rates.  Dealers can order a Third Party Inspection (TPI) for their vehicle listings during the month of August for a flat fee of only $30 per inspection, regardless of the number of inspections ordered at one time.   Offer is only valid in the U.S.
• Free Third Party Inspections for Dealers – Dealers may be eligible to have the cost of all of their TPIs paid by OPENLANE during the month of August.  Contact your OPENLANE Representative for details on how you can qualify for free TPIs in August.  Offer is only valid in the U.S.

OPENLANE’s promotional offers are geared toward providing buyers and sellers of used wholesale vehicles the protections essential for making fast and efficient transactions online.  For more information and terms for the Buy-Back Guarantee Plus offer or for the transport and TPI offerings during the month of August, please visit: www.openlane.com/promotions.

About OPENLANE

OPENLANE, Inc. is a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles.  The company offers end-to-end auto remarketing solutions to auto manufacturers, captive finance companies, lease and daily rental companies, financial institutions and wholesale auto auctions throughout the United States and Canada.  OPENLANE powers online remarketing programs for American Honda Finance, Audi Financial Services, Avis Budget Group, BMW Financial Services Canada, Chase Auto Finance, Chrysler Financial, Porsche Financial Services, Southeast Toyota Finance, US Bank, Volkswagen Credit, among others.  For more information, please visit www.openlane.com or call +1 (866) 969-0321.