Used vehicle shopping in the US just got a new source of vehicles as GM announced that it was providing a new web-based service enabling shoppers to find used GM vehicles on line and have them delivered to local dealers. The nationwide inventory of low-mileage lease returns, rental returns and company-owned vehicles is being sold through a website with vehicles being sold with bumper-to-bumper extended warranties.
Consumers can easily compare suggested prices on the site to what others in their area have paid using the Kelley Blue Book Fair Market Range, which is based in part on what others in the vehicle’s area have paid for the same or similar vehicles. Customers can also get a Carfax Vehicle History Report on the vehicles displayed on the site. The Factory Pre-Owned Collection site (www.factorypreownedcollection.com) will be available to consumers in February.
“We know that many of our customers who are shopping for a used car want to complete more of the process online, and that number is growing,” Barra said. “GM is already a leader in online new car shopping with our Shop-Click-Drive service, and we are expanding it with the Factory Pre-Owned Collection, making GM the first automaker to offer this choice to consumers.”
The Factory Pre-Owned Collection also features a three-day/150-mile exchange program, a three-month trial of the OnStar Guidance Plan and the Sirius/XM Satellite Radio All-Access Package and more. Vehicles also come with roadside assistance and courtesy transportation during the warranty period. Vehicles on the site will have fewer than 37,000 miles on their odometers.
“Technology and consumer demands are disrupting the used car marketplace, and GM is leading the way in transforming the way used cars are sold,” said Alan Batey, president, GM North America. “The Factory Pre-Owned Collection creates a simpler, easier experience for our customers and offers them more choices, less hassle and greater peace of mind. It’s also great for our dealers and GM because it introduces new buyers to our brands and increases residual values. Everybody wins.”
Indeed with new car sales hitting record numbers those lease returns are also going to spike in the future and this system will enable GM to more easily find buyers for those lease returns. Alternatively, this could raise the price of used vehicles by GM not having to sell large lots of them at wholesale which could reduce the lease rates on new vehicles, another plus for consumers. This truly could be a rare instance where both consumers and the manufacturer benefit.