Imports & Classics transacts 3x more vehicles with Signal

Imports & Classics started in 2012 with a shared passion for classic cars in the local Whatcom County community. The independent dealer has since expanded, offering an eclectic mix of classic cars, JDM imports, and late-model low mileage vehicles for retail purchase.

‍The challenges

They used floor plan financing to grow their business until the market slowed significantly due to COVID-19. During this challenging period, the team at Imports & Classics identified an opportunity to purchase and sell Canadian vehicles for wholesale.

“We’re a small business who wants to grow. We’re not married to retail and are open to wholesale with the revenue it brings in – which also helps our retail side.”, says Milad Rezvani, General Manager at Imports & Classics.

However, their floor plan lender presented hurdles with additional cross-border fees and inconsistent flooring fees, which didn’t align with their purchasing timelines. 

The solution

They began using Signal Export for appraising and purchasing vehicles, using tools like Signal Market Guide to understand vehicle wholesale value and the Export Calculator to price vehicles profitably. The team loved the simplicity and accuracy of the appraisal tools in Signal Export.

Imports & Classics also looked to Signal’s Export Finance program for a more cost-effective solution than their current financing lender. Using Export Finance, the team was able to acquire and sell more inventory with a competitive foreign exchange rate and no additional fees.

Signal Marketplace also became a preferred channel for selling vehicles to other dealers.

“November is the slowest month for us. Compared to last year, we’ve been able to purchase and sell 3x the number of vehicles. 38% of those vehicles sold on Signal Marketplace. It was also the second-best month dollar-wise in company history.”, Milad shares. 

The strategic use and adoption of Signal Export, Export Finance, and Marketplace enables Imports & Classics to run the wholesale side of their business profitably – almost on auto-pilot. The impact of partnering with Signal is particularly evident during slower periods in the market, and sustains continued growth and success for Imports & Classics. 

"What stands out to me the most is the ease of business using Signal. Increasing our monthly sales is one thing, but taking work off my plate is a major plus. With Signal, I can buy and sell each unit from my desk, without ever needing to physically lay eyes on the units." – Milad Rezvani, General Manager at Imports & Classics