OPENLANE Offers Limited Time Incentive from July 21 through August 31, 2010

OPENLANE, Inc., a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles, today announced that it has collaborated with HomeNet Automotive, a leading provider of automotive inventory merchandising, management, and marketing services, to offer dealers an easy and efficient way to list and wholesale their aged inventory.
 
Dealers using HomeNet’s flagship product, the Inventory Online Internet Marketing Suite (IOL), can publish selected used vehicle inventory on OPENLANE’s Open Auction to sell their available wholesale vehicles to a nationwide audience of more than 25,000 franchise and independent dealers on a 24–hour basis, seven days a week.
 
Through this partnership, HomeNet users will now have a quick and seamless way to control the distribution of both retail and wholesale units from one convenient tool, saving time and money and providing maximum exposure for vehicles for sale. From within IOL, selling dealers are able to publish their wholesale used vehicle units to OPENLANE’s Open Auction with one simple click and manage their entire online inventory from one centralized location.
 
“Partnering with OPENLANE provides HomeNet’s dealers with an efficient way to list their wholesale vehicles, any time, any day, while they’re still on the lot,” said Andy McBride, COO at HomeNet Automotive. “By allowing dealers to market their vehicles to both a retail and wholesale market simultaneously, dealers can maximize their alternatives—and their chances of a quick sale while reducing depreciation and transport costs to and from physical auctions.”
 
In addition, OPENLANE handles the sales from end-to-end including all payments, title transfers, and arbitration, making the process for users effortless. HomeNet users can also utilize a single sign-on so they may transfer vehicle inventory from IOL directly to OPENLANE’s listing with one simple click of a button.
 
“Integrating the HomeNet Inventory Online suite with the OPENLANE platform helps unite the retail and wholesale sides within auto dealerships, reducing turn-time which has become more and more critical to efficient operations,” said Andrew Iorgulescu, VP, Business Development, OPENLANE.  “Partners like HomeNet bring an even fuller set of value-added services to the dealers who rely on OPENLANE on a daily basis to source their inventory.”
 
Limited Time Partnership Incentive from July 21 through August 31, 2010
OPENLANE will offer a special incentive to HomeNet Automotive dealers who use the service during the months of July and August.  All HomeNet dealers that use IOL to list and sell three vehicles through OPENLANE’s Open Auction from July 21 through August 31, 2010 will receive a $300 AMEX gift card.

About HomeNet Automotive
HomeNet Automotive helps the automobile industry save time and sell more vehicles and is proud to be recognized as a “Top 10 in 2010 Companies to Watch” by AutoSuccess Magazine. It is the leading provider of inventory merchandising, management, and marketing services, led by its flagship product, Inventory Online (IOL) Internet Marketing Suite. IOL is a web-based vehicle marketing solution that helps tens of thousands of automotive dealers to engage buyers online and bring them into the showroom by streamlining the process of converting raw vehicle data into consumer-friendly and emotional online ads. With 135 employees, HomeNet has garnered a spot on the "Inc. 1000" for the second year in a row, its third recognition by the prestigious magazine in as many years. HomeNet is a private company based in West Chester, PA, with offices across the U.S. For more information, please visit www.homenetauto.com or call +1 (877) 738-3313.
 
About OPENLANE
OPENLANE, Inc. is a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles. The company offers end-to-end auto remarketing solutions to auto manufacturers, captive finance companies, lease, and daily rental companies, financial institutions, and wholesale auto auctions throughout the United States and Canada. OPENLANE powers online remarketing programs for American Honda Finance, Audi Financial Services, Avis Budget Group, Chase Auto Finance, Chrysler Financial, Porsche Financial Services, Volkswagen Credit, among others. For more information, please visit http://www.openlane.com or call +1 (866) 969-0321.

7/27/10