Car Dealer FAQ: The Benefits of Buying Online with OPENLANE
Navigating the digital wholesale marketplace doesn’t have to be complicated. With the right tools, dealers can find better inventory, price vehicles more accurately and stock their lots faster.
This FAQ-style guide answers common dealer questions about using OPENLANE and shares proven strategies for inventory management, wholesale pricing and dealership efficiency, to help you make smarter decisions to maximize profitability.
FAQ:
How do I set up my OPENLANE account?
Getting started is simple:
- Register your dealership on OPENLANE Canada.
- Complete business verification requirements.
- Set up payment and financing preferences.
- Start browsing inventory and participating in auctions.
Once approved, you can start buying and selling right away in the digital wholesale marketplace.
Is there an OPENLANE mobile app?
Yes. The OPENLANE mobile app lets you track incoming units, place bids, research VINS and manage your purchases from anywhere.
What are the OPENLANE subscription tiers and why are they important?
Choosing the right subscription is important because it determines your acquisition costs and the level of data you have to out maneuver the competition. OPENLANE offers two primary tiers:
ProFocused: This tier is perfect for buyers who want to keep costs low and maximize their profit on every car. It connects you to a nationwide network of inventory, offers discounted buy fees and includes access to Pay Day— OPENLANE’s monthly rebate program.
ProPower: To scale a dealership effectively, you need advanced data and retail integration to ensure every buy is a guaranteed fast turn. This tier gives you everything in ProFocused plus high level tools like Market Guide 2.0, Mylot, Market Trend Reports and the Retail Suite.
How does Market Guide 2.0 help with vehicle pricing?
Market Guide 2.0 helps dealers price vehicles with confidence by combining real-time data with future insights.
You can quickly scan or search a vehicle, see how similar units are performing, and view pricing forecasts for today and up to 90 days in the future. It also highlights key data points like low, average and high prices, giving you a prediction of market trends. Learn more about how to use data to price inventory in our blog about Market Guide 2.0.
What is MyLot?
MyLot is an inventory manager that helps you track, manage and organize your inventory, acting as a central hub to improve workflow and decision-making.
With MyLot, you can:
- Monitor and organize lot stock
- Get clear visibility into aging inventory
- Streamline appraisal management
What is a Retail Suite?
Available through ProPower, Retail Suite is a set of tools designed to simplify appraisals and improve the retail customer experience.
It gives you access to market data, lets you share clear vehicle previews with customers and allows them to complete trade-in inspections from the comfort of their home, helping you acquire local inventory faster and move deals forward more efficiently.
What is a proxy bid?
OPENLANE allows dealers to use proxy bidding, which automatically places bids for you up to your set maximum amount.
How this feature benefits you:
- Stay competitive in auctions without constant monitoring
- Maintain discipline around your pricing strategy
- Save time while sourcing inventory
Are vehicles inspected?
Yes. OPENLANE offers both pre-sale and post-sale inspections to create a more transparent buying and selling experience. Pre-sale inspections are optional but recommended because they help sellers find and fix issues before listing and help buyers by providing them with a clear mechanical baseline before they bid. Post-sale inspections are required for most vehicles sold through OPENLANE vehicle logistics centres, adding extra confidence for buyers.
Inspections include a review of key mechanical components, interior and exterior condition and a road test. Learn more in our guide to pre-sale and post-sale vehicle inspections.
Can I see vehicle condition reports before buying?
Yes, every vehicle listing on OPENLANE Canada includes a detailed, easy-to-read condition report that gives you a clear picture of the vehicle.
Does OPENLANE Canada offer vehicle transportation?
Yes, your vehicle can be delivered to your lot, picked up from it or sent to an OPENLANE vehicle logistics centre. OPENLANE offers flexible transportation options to meet your needs.
Can I use floorplan financing on OPENLANE?
Yes. OPENLANE lets you use floorplan financing so you can buy cars without using all your cash.
Even better, we link directly with AFC. If you qualify, your purchases automatically go right onto your AFC account with flexible, custom terms built for your specific business. It is a quick, hassle-free way to get more buying power and grow your lot.
Learn more about managing cash flow with our floorplan financing guide for car dealers.
Is there an arbitration or dispute process?
Yes. To protect the buyer, OPENLANE provides an arbitration process to support buyers if a vehicle is not accurately represented. This added layer of protection helps build confidence in the marketplace and ensures transactions remain fair and transparent.
Are there any protections for sellers?
Yes. OPENLANE supports sellers with the Simply Sell Guarantee, which helps reduce the risk and hassle of post-sale arbitrations. OPENLANE manages eligible claims on your behalf and filters out minor disputes, making the process more predictable and easier to manage.
Whether you’re sourcing inventory or optimizing pricing, OPENLANE helps you stay competitive in today’s wholesale market.