How does iLUXCARS make money?
We earn a small transaction fee (currently averages 2%) when a trade is completed.
Our fee is deducted (along with transportation charges) from any offer before it
is passed on to a seller.
When a buyer makes an offer, the offer amount is the total price he will pay if
the offer is accepted.
When a seller receives an offer, it is always the same net amount he will receive
if he accepts the offer.
Is your transportation covered or open?
We use both covered and open carriers, depending upon the value of the cars and
the distance. Most importantly, we only use reliable carriers with adequate insurance.
How much do I pay for shipping?
Nothing. We pay for shipping. Your bid is your total commitment.
By the way, our rates are competitive, and we offer the transportation jobs only
to trusted carriers with the best record of delivering on their commitments.
How do I get paid?
Once we receive the title, we send a check via federal express, or we can wire the
funds to your business account, either way the funds are in your possession within 48 hours.
When do I get the title?
We send the title via federal express within 24 – 48 hours of receipt.
How long does the whole process take?
Just like the regional auctions, we expect payment of funds within three business
days of your receipt of the invoice. We hold your check until we receive the title
(could take from 24 hours to up to six weeks). Once we receive the title, we Federal
Express the title to the buyer and cash their check. We also fund the seller within
24 – 48 hours of receipt of the title.
When will the car be on my lot?
Depends upon where the car is coming from. We will try to keep you well informed
about the timing of transportation.
When will you pick up the car?
We will pick the car up within 48 hours of the close of a transaction.
How many dealers are you working with now?
As of January 2009 the number of registered dealers was 1200.
What other dealerships are using your service?
Most of the franchised dealers in the US for Ferrari, Maserati, and Bentley are
currently signed up to use the system. We also have a number of high volume and
quality dealers of Lamborghini, Rolls Royce, Porsche, Aston Martin and Mercedes
Benz. We also have a few reputable independents.
How much does it cost to sign up?
The service is free to use to authorized members. When you sign up your account
will not be available until we have reviewed your application and you have sent
us required documentation.
How much are the monthly fees?
The service is free to use to authorized members.
Are you the same as Tha List?
No. The cars offered on iLUXCARS are “Live Trades” that need to sell as soon as the right price can be agreed
by both parties. We immediately notify all known interested dealers registered on
our system when a new car is available.
We have a strict user agreement and sellers guarantee that the information about
the cars they are offering to sell is complete and accurate.
How are you better than my local wholesaler?
Our service offers immediate, efficient access to a nationwide network of reputable
dealerships for the world’s most luxurious and exotic cars.
The information about vehicles offered on iLUXCARS is comprehensive and guaranteed
to be accurate. Payment is guaranteed, Title transfer is guaranteed.
Why should I work with you?
iLUXCARS is a trusted system that reduces risk for high value luxury and exotic
wholesale trades. You don’t have to stop using other channels. But you should
try to sell all cars through iLUXCARS to increase the likelihood that you are getting
the best money for the cars. And, you don’t want to be left out of the information
loop when your top competitors are seeing the best new trades as they become available.
How do you guarantee the condition of the car?
We cannot guarantee the condition of the car. But we do guarantee that the information
that is communicated about the car is accurate and complete.
We stand behind this guarantee so you can’t get burned if the car arrives
and you find that something is not as advertised. We will either get a reduction
in the price if acceptable to you, or deliver the car back to the selling dealer.
If the selling dealer refuses to make the trade right, we suffer the cost and drop
him from the system.
How do you handle arbitration?
We try to resolve any conflict in an amicable manner, and if we determine that there
is a conflict that cannot be resolved administratively, we will refer the situation
to binding arbitration.
How are you different than Manheim?
iLUXCARS ONLY serves the top luxury and exotic car dealerships in the US. We have
deep expertise in this market and our system is available 24 hours a day, every
day of the year.
User Interface
Do you have a list of cars for me to view?
Yes. Click on 'Live Trades' to see the currently available cars. Also, the system notifies you with email or text message any time that a new car is available
for bidding based on the profile that you manage.
Can I buy a car without being a member?
No.
What if I don’t have anything to sell right now?
We recommend signing up and setting your profile immediately so you can begin receiving
notifications and see how much these cars are selling for. Make offers or call us
to get advice or more information.
How quickly will you get me a bid?
We try to ensure that your trade gets a bid within a few minutes. But it can sometimes
take a few hours.
What if I choose not to sell the car?
You do not have to accept any offer. For the benefit of all users on the system
we do require that you make offers to sell and offers to buy with good intent.
Furthermore, you can withdraw a car at any time up until an offer is accepted.
Can I withdraw the car before the bidding closes?
Yes.
Do you support pictures?
We support pictures on all vehicles. It is up to the selling dealer to post the
pictures, of course, as we don't have the vehicles in inventory. You may submit
pictures when you create the vehicle, or attach them later using a simple interface.
Or, if you have pictures and don't want to attach them yourself, we would be happy
to attach them to your vehicle for you. Simply mail them to us at
photos@iluxcars.com and we'll take care of everything.
Are you the same as eBay? How do you differ?
No. iLUXCARS is a wholesale system, strictly for dealers of luxury and exotic sports
cars. No consumers are allowed to use the system.
Can I get more info on the car? How?
Yes. Call us and we will tell you more or find out more for you.
Can I change my bid? I made a mistake?
Please call us immediately when you discover you made a mistake. We can almost always
resolve these kinds of problems quickly and easily.
Purchase order? Invoice?
Our system automatically generates a purchase order for the selling dealer and an
invoice for the buying dealer. These documents are emailed to you upon the close
of a transaction, and they are also available under your administrative features,
from a link that says My Transactions.
What if people aren’t being honest about the cars they enter?
Registered dealers agree to enter accurate and complete detail about the vehicles,
and they guarantee this information to be accurate. If they make a mistake they
are given an opportunity to make it right (by taking the car back or offering an
acceptably lower price to the buyer.) All dealers agree to binding arbitration.
If a dealer doesn’t make a deal right, we drop them from the system.
Is there someone I can talk to about the car I’m bidding?
Yes, during our normal business hours and often even when we are not in the office.
You can call our toll-free number or use the on-line chat feature.
What happens if I forget my password?
You can call us and ask us to reset your password, or just click on the home page
link, entitled “forgot my password”.
Do I have to have text message notification?I don’t
want it to bother me outside of work…or just going crazy all day. You can choose to receive messages via email, text or both. You are not required
to receive text messages.
What do I do when I like an offer I receive? What’s the process from
here?
Simply go to “view offers” and click on “accept”. The deal
is closed. Invoices and purchase orders are generated and available on-line and
we contact you to arrange transportation, transfer titles and funds.
What if I change dealerships? Can my account follow me?
No. The account you use is tied to a specific dealership. If you transfer to another
dealership you just contact us to set up a new account.
Can I get more info on cars?
Yes. Just call us and we will help get all of the information you need to decide
how much to offer.
Is there a way to know what the buyer needs to make the deal?
You can call us and we may be able to help you decide what to offer. We may also
be able to get that info from a seller, but the most effective strategy is to make
offers on cars that you feel are strong enough to get the car, and see what happens.
What happens when I’m the high bidder, but I don’t win the car?
This usually only happens when a dealer offers a car as a “Live Trade”
and were unable to get their deal closed. But it can also mean that no one offered
as much money as their local wholesaler.
LATEST NEWS
11.23.11 Quarterly Report
First, we apologize for the fact that our monthly report has become a quarterly report. This was not, we assure you, our original intention.
03.17.11 The iLux iPad Promotion
This month, along with the slightly late March Market Report, we're officially launching our first ever iLUXCARS Promotion. It's simple – Sell a Car, get an iPad 2! No contest, no raffle, and no competition.
01.15.11 Technology Advantage
Until iLUXCARS, establishing a legitimate value for a luxury trade was largely guesswork. Cross your fingers and hope your customer was flexible.
12.15.10 Year In Review
It’s been an interesting year. The good news is that the scary price slide seems to have stopped. We’re in a recovery period, certainly.
