Car Dash is a second-hand car bidding channel expected to go live on February 25th 2019 for dealers to upload their cars. Buyers can begin bidding on your cars on March 2nd. We designed this bidding system to help you sell your cars fast. It is most effective for lower priced cars. To qualify, you will need to have been a paid and registered car dealer on the 5milesapp for at least 3 months. Below is how the Car Dash process will work:
2 days before the auction goes live:
- Upload your car info. Your car must have already obtained a Carfax report and the cars should be worth $3000 or more. You also have the option of changing your local listings into Car Dash listings by tapping on the “Join Car Dash” button on the bottom of your listing page.
- Set a reasonable reserve price for your car. If it is higher than the market price, it will not pass the review process.
- Wait 1 day for the reviewing.
1 days before the auction goes live:
- The approved cars get displayed and announced to go live the next day at 7:00pm CST.
- Buyers browse and do research.
Day of the live auction:
- The auction is from 7:00pm to 10pm CST. Buyers bid within the 3 hours. All start at $1. If after the bidding time, (one day), the final bid fails to reach your minimum price, the car will remain unsold. You may pull it from the bidding system or wait another day for it to be displayed for bidding again.
The highest bidder pays a $99 deposit to 5miles as a service fee. The buyer and seller exchange contacts. Get in touch and the buyer pays the remaining.
- Listing rules
Please post the full price and accurate mileage. Don’t put the down payment price or installment payment price as the FULL price. A misleading full priced car will not be approved in reviewing.
The description should not contain your contact information, weblink or logo of other website. Please upload an original, clear photo to make your listing visible to others.
For new listings please upload new images. Same images will be regarded as duplicate listing and would not be approved. The images should be in consistent with your cars and the description.
- Reserve price
Car Dash Auction enables you to set a fairly low reserve price, which is the minimum full price that you are willing to accept. This minimizes risk, because the bidder only win when the reserve price is met.
- Set your reserve price as the lowest possible price that you are willing to accept.
- Set your reserve price close to trade-in, as most sales on 5miles Car Dash are between trade-in and retail. New sellers often make the mistake of pricing too close to retail; as a result, bidding excitement never gets a chance to start and their items don't sell.
- Set a low starting price to create bidding momentum as early as possible. Listings with high starting prices and an unknown reserve fare poorly on 5miles Car Dash.
- Manage Your Listing: Revise Pricing
If your listing isn't receiving the bidding or buying activity that you expected, consider revising your price and list again at a lower price. We allow one car to be listed for 3 times at most. Each time it takes one day to review.
If you want to change, add information, or upgrade your listing to attract more buyers, make sure your images and descriptions are clear. You can't change the listing when the car is uploaded and approved.
- Complete the Sale
Once a buyer has won the bid, you will have each other’s contacts info. You'll need to contact the buyer collect payment and confirm the pickup or shipping arrangements with the buyer. Be sure to check with the buyer on his credit condition as well.
Finalize Payment, Shipping, and Title Transfer
You should have already established your payment terms in your 5miles Car Dash listing. The $99 deposits will be deducted from the final bidding price. The remaining is to be paid to you in accordance with terms you have clearly explained in the listing.
Complete the Sale: Arrange Pickup / Shipping
You should have already established your pickup and/or shipping terms in your 5miles Car Dash listing description. Most buyers opt to pick up the vehicle in person; however, if shipping services are required for your transaction, please make sure the shipping company that you and the buyer agree to use is fully bonded and insured.
If you have a prior relationship with a trustworthy shipping company, you might want to offer to help arrange for shipping.
Complete the Sale: Transfer Title
You will need to transfer the title of the vehicle to the new owner. Each state has slightly different rules on how the title transfer should be completed. We recommend that you visit your state's Department of Motor Vehicles to review detailed information about transferring titles to the new owner.