CARWAVE is an online automobile auction platform that simplifies the wholesaling of trade-in and frontline vehicles between franchise and independent auto dealers.
Founded in 2009, CARWAVE is displacing the $100 billion traditional brick-and-mortar wholesale automobile auction industry with its innovative, internet-based business model. By bringing the auction to the dealership, CARWAVE increases profit margins and provides a more convenient experience for both sellers and buyers.
All vehicles listed on CARWAVE include detailed condition reports performed by ASE Certified Mechanics. Unlike traditional auctions that sell both "as-is" and "guaranteed" cars, all cars on CARWAVE are guaranteed as described in the inspection report. Regardless of year or mileage, there are no surprises when the purchased vehicles arrive at the buying dealership. This assurance helps dealerships increase profit margins by avoiding costly engine and transmission problems or unexpected reconditioning costs.
Dealership margins have come under tremendous pressure over the past ten years. The company was founded with the goal of using technology and a new business model to eliminate the costly overhead of traditional auctions. For car buyers, the platform's fees are less than those of competing auctions and there are no "online simulcast" fees that traditional auctions charge. Additionally, CARWAVE helps avoid the hassle of auction houses for both buyers and sellers - no bad run numbers, no sabotaged cars.
CARWAVE is California's largest dealer direct network and is currently expanding into additional states, including Arizona, Nevada and Texas. All of the vehicles on CARWAVE come directly from franchise dealerships or non-franchise dealerships.