"Used+ helps dealers address used-car shoppers' biggest pain points: difficulty searching for and buying a used car, and fear of buying a lemon," said Edmunds.com President Seth Berkowitz. "Through this program, we'll connect in-market shoppers with dealers, providing peace of mind and sweetening the deal for car shoppers so that the deal can close more quickly."
Edmunds will begin marketing the program to shoppers later this summer. The sign-up period for dealers began on Monday.
The program is easy to use for shoppers searching for a used vehicle on Edmunds.com.
Dealers present their used-vehicle inventory to in-market shoppers with a Vehicle Protection Plan and a $200 gas card. The protection plan includes a 30-day/1,000-mile warranty and 12-month roadside assistance.
Edmunds.com underwrites and administers that portion of the program through third-party providers.
The program was tested in Arizona, Florida, Georgia, Illinois and Nevada for six months before the national rollout.
The pilot program generated, for the average dealer participating in the pilot, three times the engagement of Edmunds' existing used-car program. Dealers can also guarantee lowest prices, an optional part of the program. Those who did during the pilot program earned seven times as much.
Dealers can choose to participate through a subscription model or a cost-per-sale arrangement, where applicable.
Dealers can also use Edmunds' Price Promise pricing tool to simplify the back-end process.
Used+ rolls out at a time when the leasing boom is expected to keep adding used cars to the inventory pool at unprecedented levels, generating sales opportunities that could easily increase dealer profitability.
Edmunds says: This program is designed to put more used-car shoppers in front of dealers and make the process simple and reassuring to customers.