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MyDealerOnline

"Sell Before You Buy"

MyDealerOnline to Expand Internationally through Partnership with Bendary Car Corporation

February 01, 2016 06:00 AM Eastern Standard Time
 

LANGHORNE, Pa.--(BUSINESS WIRE)--MyDealerOnline®, Inc. is pleased to announce its recent exclusive partnership with Bendary Car Corporation out of New York. MyDealerOnline and Bendary Car Corporation’s new distribution agreement will allow MyDealerOnline to expand to multiple international automotive markets.

“Overseas dealers will gain greater access to U.S. auction inventory, $0 brokerage fees and $0 logistics markup. Bendary Car Corp. will provide interest-free financing up to 50% of the vehicle cost. Also, interest-free financing will continue until the car sells for qualified dealers”

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Under the agreement, the Bendary and MyDealerOnline partnership focuses initially on the Middle Eastern and African markets with future expansion planned. Overseas dealers who subscribe to MyDealerOnline will receive immediate access to U.S. auction inventory, technology, resources and support. “MyDealerOnline is a perfect fit for our long-term Auto Exportgrowth,” states Ahmed Bendary, President of Bendary Car Corporation. “Overseas dealers will gain greater access to U.S. auction inventory, $0 brokerage fees and $0 logistics markup. Bendary Car Corp. will provide interest-free financing up to 50% of the vehicle cost. Also, interest-free financing will continue until the car sells for qualified dealers,” adds Bendary. “This program will add working capital needed to make overseas dealers successful.

The distribution partnership provides MyDealerOnline with the opportunity to establish dealer relationships throughout the world. “Our #1 goal is to help overseas dealers gain access to U.S. inventory and grow their dealerships,” says Scott Stephens, Vice President of Business Development at MyDealerOnline. “Export is important to the success of U.S. used car consignors. They will now have access to thousands of additional overseas buyers,” Stephens concludes.

For more information, please register at www.mydealeronline.com/export or email to info@mydealeronline.com.

About MyDealerOnline®

MyDealerOnline®, Inc., is a wholesale to retail digital product that allows car dealers to broker auto auction inventory straight from their own websites. MyDealerOnline removes the guessing game from the wholesale car buying experience and enables dealers to “Sell Before You Buy.” MyDealerOnline provides auction houses and their consignors with a broader buyer base and car dealers with a greater online inventory for direct consumer shopping. Visit MyDealerOnline at mydealeronline.com.

Contacts

MyDealerOnline®, Inc.
Carly Fitzpatrick
Digital Marketing Manager
215-289-0500
cfitzpatrick@alteso.com

MyDealerOnline Receives $1M in Funding to kick off the New Year | Business Wire

LANGHORNE, Pa.--(BUSINESS WIRE)--MyDealerOnline®, Inc., the only digital product that allows car dealers to broker wholesale auto auction inventory straight from their own websites, is starting the new year off strong after receiving $1M in funding just before the close of 2015. With recent developments like new product features, prosperous partnerships and industry recognition, MyDealerOnline successfully secured financial support from the same group of investors as prior funding rounds. Now totaling $3.25M in funding, the additional $1M allows MyDealerOnline to focus on increasing its subscriber base, fostering growth among new and existing partnerships, and expanding its efforts internationally.

Tech startup, MyDealerOnline, receives $1M in additional funding to revolutionize the auto remarketing industry.

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MyDealerOnline’s revolutionary technology has yet to be introduced to the automotive remarketing industry. A B2B service developed as an advantageous tool for remarketing vehicles, MyDealerOnline provides dealers with a greater inventory selection without increasing their working capital requirements or overhead availability. Contrary to popular websites designed to bypass dealers like Beepi and Vroom, MyDealerOnline works directly with dealers to help them satisfy consumer demand. “MyDealerOnline helps dealers engage with more retail customers by offering greater inventory selection to a wider audience,” states Scott Stephens, Vice President of Business Development. Even with the infiltration of automotive marketplaces online today, consumers still rely on dealers not only for purchasing vehicles but also for trade-ins, warranties, services and other add-ons available only from the professionals.

MyDealerOnline aims to revolutionize the car buying process for both the consumer and the dealer. Dealers can obtain more customers and sell cars without upfront capital investments while consumers have more options shopping at their local dealer. With inventory secured from local auctions surrounding Greater Philadelphia, nationally and auctions overseas, MyDealerOnline provides an opportunity to revolutionize automotive remarketing for dealers everywhere.

About MyDealerOnline®

MyDealerOnline® is a revolutionary digital product that allows car dealers to broker wholesale auto auction inventory straight from their websites. MyDealerOnline removes the guessing game from the wholesale car buying experience and enables dealers to “Sell Before You Buy.”

Contacts

MyDealerOnline, Inc.
Carly Fitzpatrick, 215-289-0500
cfitzpatrick@alteso.com

Source: MyDealerOnline Receives $1M in Funding to kick off the New Year | Business Wire

MyDealerOnline® Brings on Scott Stephens as Vice President of Business Development as the Company Continues to Grow

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78 Cabot Boulevard East                                                                               

Langhorne, PA 19047                                                                               November 17, 2015

P R E S S     R E L E A S E

MyDealerOnline® Brings on Scott Stephens as Vice President of Business Development as the Company Continues to Grow 

Langhorne, PA (November 17, 2015) - MyDealerOnline® is pleased to announce the addition of Scott Stephens as Vice President of Business Development. With decades of experience in the automotive industry, Stephens will be a strong attribute to the MyDealerOnline team. For the entirety of his career, Stephens has worked to support car dealers,  including over twenty years of experience at Cox Automotive. As General Manager of ExportTrader.com, Stephens developed the leading portal for overseas car dealers - building relationships in over one hundred fifty countries.

MyDealerOnline aims to revolutionize the auto remarketing industry. MyDealerOnline partners with auction houses, takes their available inventory feed and places it directly onto the car dealer’s website for consumer shopping. MyDealerOnline’s existing auction house partnerships include ninety percent of the salvage inventory market with Copart and Insurance Auto Auctions, as well as substantial clean car auto auction inventory partners such as ADESA and Auction Broadcasting Company. Through these partnerships and future partnerships developing on the horizon, MyDealerOnline intends to reach more dealers and expand both domestically and internationally.

With inventory available from auto auctions around the globe, the focus remains on introducing dealers to MyDealerOnline’s revolutionary wholesale to retail purchasing product. Stephens’ goal for MyDealerOnline is to build the largest network of connected dealers throughout the world. Stephens feels that, “MyDealerOnline provides dealers, both AIbEiAIAAABECNzK2ayV9pjAyQEiC3ZjYXJkX3Bob3RvKihjNzdkMTdlZGJlY2IzZDE1YmRkYzY3OWRlZjkxZmFjYjVjMjQ1NTZmMAHwPgsB8w-XcVwMFrAfxBhx5ZMeeA (1)domestically and internationally, with greater selling opportunities - reaching more consumers with expanded inventory options.”  The contribution of Stephens’ international auto experience will assist in MyDealerOnline’s continued expansion efforts.

About MyDealerOnline®

MyDealerOnline® is a wholesale to retail digital product that allows car dealers to broker wholesale auto auction inventory straight from their own website. MyDealerOnline removes the guessing game from the wholesale car buying experience and enables dealers to “Sell Before You Buy.” MyDealerOnline provides the auction houses and their consignors with a broader buyer base and car dealers with a greater virtual inventory for direct consumer shopping. Visit MyDealerOnline at mydealeronline.com.

Contact

Carly Fitzpatrick

Digital Marketing Manager

MyDealerOnline®

cfitzpatrick@alteso.com

mydealeronline.com

 

Philadelphia-Based Startup, MyDealerOnline®, Raised $1.6 Million to Allow Car Dealers to Sell Cars Before They Buy Them

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6 Neshaminy Interplex, Suite 310

Trevose, PA 19053                                                                                        August 24, 2015

P R E S S    R E L E A S E

 

Philadelphia-Based Startup, MyDealerOnline®, Raised $1.6 Million to Allow Car Dealers to Sell Cars Before They Buy Them

Trevose, PA (August 24, 2015) - MyDealerOnline® is a wholesale to retail digital product that allows car dealerships to broker wholesale auto auction inventory straight from their own websites. MyDealerOnline® partners with auction houses, takes their available inventory feed and places it directly onto the car dealer's website. Developed by Alteso®, a company that prides itself on accelerating the auto remarketing industry, MyDealerOnline® removes the guessing game from the wholesale car buying experience and enables dealers to “Sell Before You Buy.”

After three rounds of funding, MyDealerOnline® has received 1.6 million investment dollars; 1.1M in October of 2013, 200K in December of 2014 and 300K in August of 2015. These investments have allowed MyDealerOnline® to develop the technology, submit a patent, pursue and establish auction inventory partners and begin marketing to auto dealers around the globe. "It starts with the inventory.", stated Cheryl Munce, Chief Executive Consultant at Alteso®. According to Munce, the beauty of such a product is that, “It essentially puts the retail transaction ahead of the wholesale transaction.” She went on to say that, "Consumers can now shop a dealer's website and browse 'virtual' inventory to look for the car of their dreams. Of course the wholesale price is NOT displayed to the consumer so the dealer can protect their profit margins and handle the acquisition and sale directly to their customer."  

MyDealerOnline® is an invisible technology that seamlessly integrates off-site auction inventory within a dealership website, thereby keeping shopping consumers engaged on the dealer's website. The dealer can sell more cars, maximize their digital marketing expense by attracting and retaining more customers and minimize inventory acquisition risk. With plans to obtain a greater amount of inventory vehicles and cater to a broader client base of car dealers, MyDealerOnline® aims for a promising and prosperous future. MyDealerOnline’s® vision is to revolutionize the way auto remarketers and car dealers do business by giving every dealer a "virtual" showroom of FREE inventory. 

About Alteso®

MyDealerOnline® is an auto remarketing product of Alteso. Founded in 2002, Alteso® develops revolutionary digital solutions that accelerate and enhance automobile remarketing programs. Alteso’s® commitment to the auto remarketing industry is delivering timely, easily integrated, on-demand digital solutions supported by best-in-class employees. With a lifetime of experience in technology and nearly a century of combined automobile remarketing expertise, Alteso® has products that meet the rapidly changing demands of the industry while delivering value for all stakeholders. For more information, visit Alteso’s® website at www.alteso.com/