Auto Remarketing is recognizing the 2022 Women in Remarketing honorees in the May issue of the magazine, and will be posting Q&As with each of these outstanding leaders on the website.
Next up is Lisa Frank, owner and vice president of Kars-R-Us.
Auto Remarketing: What is the top trend you’re watching in remarketing/wholesale automotive this year?
Lisa Frank: The number one trend I am watching is the continued shift from the physical sphere to the digital/online sphere. At each point of the car lifecycle, a higher percentage of buying and selling will be done online, aff ecting every aspect of our industry.
This includes new car purchases from an individual’s living room to selling your car sight unseen to an online salvage buyer. This trend will increase competition, continuing the rise in the resale value of used cars.
AR: How has technology/innovation impacted your specific area of remarketing/wholesale the most?
Frank: Not so many years ago, if I needed to liquidate an older non-running donation vehicle, I’d have to spend time calling potential buyers in the immediate geographic area. Technology has increased the percentage of cars sold online.
Specifically, our company sells a high percentage of lower end donated vehicles. The increase in technology has directly impacted the number of buyers that will bid and buy our cars online, without ever seeing them, streamlining the process, and increasing our return.
AR: What piece of career advice would you have for someone new to the industry?
Frank: My advice would be for anyone new to the industry to dispel of any preconceived notions they might have of the car industry. The car industry has hundreds of different aspects to it, that allows any individual who is motivated and driven to excel in this industry and maximize their professional goals.
AR: What is your proudest moment/accomplishment, career-wise?
Frank: The proudest moment of my career is when my business partner, Michael Irwin ,and I started our company Kars-R-Us in March of 2009. Our goal was to increase the returns our charity partners received from our nationwide car donation programs. By decreasing our average advertising cost and increasing the return we receive from our auction vendors, we were able to accomplish that goal almost immediately. We have continued increasing that return as our company has grown, sending almost $5,000,000 to charities in 2021 alone.