Transparent car buying with a price you can trust.
About this project
I recently went through the car buying experience for the first time on my own. I am 24 years old and was determined not to allow myself to be fooled. Ultimately, they still got me. I started thinking how great it would be to purchase a car online. There are companies that allow you to purchase a car online but they have their own inventory. My goal isn’t to sell cars my goal is to enable consumers to feel good about their car buying decisions. AutoSavers would ideally partner with Kelly Blue Book or offer similar services for car quotes. It would also partner with local dealerships and many banks to offer a wide variety of car selections along with financing options for everyone. Dealerships in partnerships with AutoSavers agree to give customers their Kelly Blue Book value of their car and consumes agree to accept that. The consumer will be able to run their financing online, pick out their car online and sign documents online. If a test drive is desired, you can set up a time to test drive with salesmen of your choice who have ratings from other customers. No dealership is given your personal information at all. The prices are locked in online based on advertised dealer prices. Consumers know what they are getting for their old car and how much they are spending on the new car. They select the bank who provides the best deal and can even set a time up to have their car delivered. This website doesn’t seek to make money off of the general public but seeks to offer an innovative and transparent way of car buying. Dealerships will pay commission for each car sold through the website and also a fee to access data such as what customers are viewing and what they are buying (their vehicles vs competitors). They can also pay additional fees to have their cars appear at the top of the list when being searched. Many people put off car buying in order to avoid salesmen so any money the dealership spends to be apart of this process pales in comparison to the additional revenue brought in from the people who wouldn’t normally be purchasing cars who are now willing to. AutoSaver seeks to revolutionize the way car buying is done and achieve a more transparent approach so that consumers know exactly what they are buying and what they are spending.
Contributions will go to website creation and state/government licensing requirements.
Risks and challenges
A challenge associated with this project include getting Kelly Blue Book to partnership with the AutoSavers so that customers can find their value on our site as opposed to having to visit our site and Kelly Blue Book’s site. If they refuse to allow us to include them within our sight, worst case scenario is that customer will have to enter in the value they are given along with proof of this quote so they can be given the appropriate credit.
The second challenge with this is getting dealerships to agree to let their vehicles be featured on the site. Currently generating data through surveys to show dealers that although they may lose some in their back end negotiating, they will bring in more revenue through additional sales from people who have put off car buying due to not wanting to work with salesmen.