Most of us have this idea that when we go to lease or buy a new car, we pick out our car at the dealership, haggle over pricing with terms that we may not fully understand, and then leave with our new car. Carvoy hopes to change that by providing more transparency to this whole process. Users are able to go online and view all of the available inventory at participating dealerships and pick out their car.
Next, you build the price or lease payment that you want to make each month. Only after this is done do you give Carvoy any of your personal data. This data is never kept by Carvoy–it is immediately sent to the financer, and encrypted with two-factor authentication. After the user completes their transaction, they can add on maintenance and warranty products, and then the car is delivered directly to the consumer.
This proprietary technology is currently available online, and soon will be available on dealership’s websites and in showrooms through Carvoy Ignite.
Daniel also discusses the challenges they faced building trust in an industry that is built to not be transparent, and what he sees as the future of the automotive industry.
For more information, visit www.carvoy.com.