Our mission is to redefine the current $600 billion new vehicle market by pioneering its platform centered on purchasing new vehicles online.
Consumers don’t trust car salesmen, period; they don’t enjoy the haggling, negotiating process and find the experience, time consuming, frustrating and unsure if they got a fair deal or not.
For Dealers, it costs approx. $1100 to sell a new car (NADA survey 2013). Their digital marketing experience produces a less than acceptable ROI as the majority of inquiries are based around a reverse auction amongst dealers. Paid 3rd party Internet leads have a low success rate, based on current dealer statistics. This process is archaic and the time for change is now. Leapfrog enables buyers to “skip the salesman” and dealers with a 24/7/365 new digital sales channel to sell more vehicles at a lesser cost.
Leapfrog enables the consumer to Find, Bid and Buy their new vehicle online. Our target markets are:
1. Millennial ages 18-45;
2. Young professionals and;
3. Young families.
Industry stats show that 97% use the Internet for vehicle research and approx. 50% are willing to buy a vehicle online (Cars Online 2014: Generation connected). They represent over 65% of the new vehicles sales, which typically range in price from $15k to $45k, (~ $32k/vehicle).
Leapfrog is a virtual auto-mall showroom for consumers to view dealers’ inventory within their target area.
For our partner dealers, integration with the most popular dealer management and vehicle Inventory systems (“CRM’s) in North America will continue to drive inventory growth on our platform for consumers to search and buy their new vehicle, within the comfort of their preferred surroundings.
For the dealers, is a simple process, as our integrated solutions are cloud based. The selling price of each vehicle is set and controlled by the dealer. The dealers and the consumers remain anonymous until after the transaction is successful.
For consumers, Leapfrog shows both the Wholesale (Dealer Invoice) price and the MSRP (Retail) on the vehicles of interest. Prior to a bid submission, a payment method is registered and a deposit is processed upon a successful price match. The deposit is guaranteed.
This process is free to both consumers and dealers. Our revenue model is as follows:
1. Completion of a transaction between the consumer and dealer, a fee of $399 will be collected from the dealer.
2. Advertising revenue when analytics attract industry advertisers.
3. Licensing in other countries and other industries; motorcycles, boats, RV’s, commercial vehicles etc.