This is the Future of Online Car Marketplaces
A Paradigm Shift in Buying Patterns
As all industries of different kinds grapple with the idea that new internet-based startups are slowly taking over their market share some are racing to join the online space and others are being left in the wake of this trend. Airbnb was able to capture much of the hotel industries market share with more properties now listed on their website than Marriott’s! In the real estate industries, Zillow and Redfin are slowly but surely swallowing up market share. Other companies such as Walmart are fiercely competing with online marketplaces to retain their very own market share.
However, when we look at the auto industry there is honestly a level of confusion as to what is the best form of competition when it comes to selling vehicles online. Indeed many competitors are joining the space and some market leaders are emerging when it comes to the sale of new vehicles.
Used vehicles are a trickier problem. In the world of startups, there is a certain polish that companies want to show and that is difficult when you’re selling an item such as used vehicles that have a terrible reputation. So companies such as Shift argue that what they’ll do is inspect every car listed on their platform. CarsXE, however, has a different vision. It recognizes that there is a need for people to sell used cars of all different kinds while also knowing that the buyer needs some form of assurance. All of which needs to be done on an interface that is easy to use on the app including the actual transfer of money.
The Need For A Solution
After more than 2 long years of hard work, I’m proud to announce CarsXE. Simply put I built this app for people to buy and sell their cars.
A couple of years ago I was in my sophomore year of college and I needed to buy a car for my hour-long commute to school. I started “looking around” as people do by asking my friends, my dad’s friends and looking online at the usual suspects like craigslist. I would make sure to tell them “Hey this is my budget and I’m looking for a car like this.” From the few friends who could give me recommendations all I got was a list of cars I’m not interested in or were outside my budget.
Finally, I got one or two recommendations that seemed reasonable only because I had a hookup. Inspecting the car was another hassle, looking up info on that car, paying mad mulla for a report and then engaging in the awkward affair of negotiating and paying the seller with basically no real assurances was frustrating.
This made me think how can we be in the age of the smartphone and this is the current state of our union when it comes to car buying! In the list of major investments a person makes after their house and education is their car. A car is probably the first major investment in our lives. Almost everyone can tell you about their first car and how they got it.
The more I researched I found that 39.2 million used cars are sold every year to the 5.3 million new cars sold every year in the US. (Years 2017 & 2018 respectively)
CarsXE: Everything Craigslist Should’ve Been
So I built the application I wanted when I was buying my car.
- One that let the seller with a quick scan of their VIN number pull up tons of information on the car,
- One that asked the seller the right question
- One that took pictures from the right angles
- One that let me create an alert for a vehicle within my budget with the specifications I was interested in
- One that let me message the seller directly
- One that let me pay the seller in the app directly with some guarantees
- One that gave me tons of info on the car
- One that promotes trust & transparency
- One that gave me easy access to a report (for just $10)
- One where I could see reviews on a seller if they sold other vehicles
- One where I could search for cars cleanly.
- One where I could bookmark cars I’m interested in.
It was a long and tenuous journey but I couldn’t be more proud of the product I produced: CarsXE.
CarsXE is most definitely and in my opinion the ultimate used car marketplace. Like any marketplace it has challenges, but it is the early adopters that make it. That’s why I’ve created badges to recognize early adopters and good use of the platform to reward them with perks.
Furthermore, I want to reward those who refer buyer & sellers on this marketplace. When you refer a buyer, you’ll get $100 when they purchase a vehicle. When you refer a seller, you’ll get $50 when they sell their vehicle!
LET’S RACE TO THE FUTURE TOGETHER! I’m excited to hear your feedback,
Abe Darwish
CarsXE CEO
