4 companies that are changing the way we are buying and selling cars.
Buying and selling vehicles online is becoming increasingly popular with more and more options and platforms becoming available. Most of these platforms aren’t available in Canada yet but it’s still exciting to cover what’s going on!
Vroom.com (US only)
Vroom is a nationwide online car dealer in the US. They make offers based on information provided, pick up the vehicles for free and then prepare them for sale at centralized locations. You can also use their service to buy a used vehicle by looking through their detailed online listings. As a result, they do offer a trade-in program as well. The pros of using their service are convenience as they do handle everything for you and you get a diverse selection of cars to buy from with an online catalog in the thousands. The downside is that although there are no fees paid, there are costs. You aren’t going to get the best value for your vehicle, but like their website says, you get a cash offer and they take care of everything, chalk it up to the price of convenience.
This is a service that allows those who are looking to get out of their leases to list them online in a central location. There’s no fee to take over a lease advertised on the website but the seller does pay three hundred dollars to list their vehicle. Usually, from there the seller has to incentivize the sale by paying the lease transfer fees plus usually a few months up front. Much like Vroom a very positive experience for the buyer but quite costly for the seller.
Shift.com (US only)
Shift is a car buying and selling service available only in the United States, although it’s growing quickly. They facilitate car sales between private buyers. The seller and the buyer both take on the cost of selling the vehicle. The interesting thing about how Shift works is you view the vehicle with one of their ‘Car experts”. Their car expert walks you through the vehicle and gives you educational information. Their low-pressure sales approach is definitely a shift in the industry but it allows for a more positive overall experience. The only downside for the seller is they must agree to Shift’s 7 day/250 mile return period.
This is a new service available in Canada, launching this month in Ottawa after it’s beta testing period in Vancouver. Much like Shift, Flipped.ca acts as a facilitator for the sale between a consumer private vehicle seller and dealerships. Using an auction-style platform they allow dealerships to bid on consumer vehicles for either an outright purchase or a trade-in. The benefit of this process is that it’s completely free for the consumer to use with the fees being passed onto the dealerships. It also allows consumers to deal with buyers that are committed and ready to purchase their vehicle so the process is streamlined. All offers made on your car are guaranteed, and you never have to worry about the legitimacy of the buyer.
Just like Flipped.ca, there are more and more options to buy and sell cars online. Try us out, we are definitely a cut above the rest.
List your car with Flipped.ca and get real offers from more buyers.
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