7 ways OPENLANE’s Market Guide 2.0 Helps You Find Market Prices
Knowing how to price your vehicles for wholesaling can be complicated. How can you accurately tell if your bids or floor prices align with the market price? Or that you account for changes in supply or demand, which can increase or decrease market pricing?
Wholesale used vehicle prices can also fluctuate year over year based on interest rates, time of year, and of course vehicle make, model and condition. That leaves you with a ton of data and information to sort through and interpret.
That’s where OPENLANE’s Market Guide 2.0 comes in, Canada’s most powerful wholesale vehicle pricing tool. Our used car pricing tool is one of the few made specifically for car dealers.
What makes OPENLANE’s Market Guide 2.0 reliable, quick, and easy to use for both franchise and independent dealers?
Captures OPENLANE Canada vehicle car prices on a daily basis
Transactions from all our auction formats are aggregated into one used car pricing tool guide, giving dealers access to millions of data points. We specifically combined the data to amplify insights, and help dealers buy and sell with greater confidence.
Know the price before the market does
Market Guide 2.0 now has the capabilities to evaluate potential vehicle prices 30, 60 and 90 days in advance. That means dealers stay ahead of trends, keep their competitive edge and make more informed pricing decisions.
Can help any dealer find price points
Our guide provides valuable pricing references in various scenarios. Buyers use it as a benchmark to set bids, and it helps sellers determine a good floor price. Buyers can also compare a vehicle’s floor price against our guide and make more informed bidding decisions.
Determine wholesale prices while you’re on the move
We understand that time is money. Whether you’re an Apple iOS devotee or Android loyalist, Market Guide 2.0 is available for instant access via our mobile app. Scanning capabilities for all formats of VINs (barcodes, QR codes and text) are also available.
Analyze wholesale pricing by market and seasonality
Since pricing can fluctuate based on location and season, we include filters for provinces and date sold. There are also options to search anywhere between 30 and 180 days to help account for seasonal changes in vehicle values. For help with future pricing, dealers can search our wholesale vehicle pricing tool anywhere from 30, 60 and 90 days in advance.
Summary view for quicker buying and selling decisions
A high-level view of a vehicle’s value is also available, including highest, lowest and average pricing data. This lives on the Vehicle Details Page and can be a good starting point to evaluate what bids or floor prices can be.
Search features that make wholesale easy
Even while actively searching for market values, your search history will be available on the same screen so you can keep better track of the data. Plus, our advanced search covers transmission, fuel type, drivetrain, engine filters, year, specific models, trim value filters and more. This helps dealers find data for wholesale car prices on the most specific of vehicles.
Wondering how to access OPENLANE’s Market Guide?
Our guide is available to our registered dealers as a monthly subscription. For our registered dealers on a ProPower Plan, it is already included.
Already an OPENLANE registered dealer in Canada? You can upgrade directly in the App by following the steps below.
- Go to OPENLANE.ca
- Click into Settings
- Select Dealership
- Choose Subscriptions and subscribe to Market Guide 2.0.
Not an OPENLANE registered dealer yet in Canada? Fill out this form and a team member will reach out to you to talk about the next steps. The form takes about three minutes to complete.