Beepi Car Buying
Given the size of the used-car market, the ever-expanding use of online marketplaces, and the living hell that is almost any Department of Motor Vehicles office, Beepi sounds like a simpler and easier way to handle the process of either selling or buying a car that would certainly appeal to anyone looking to do either. And investors seemed to agree, as the company raised $149 million on what was a $560 valuation of the company at its high point.
beepi car buying
The company's business plan is pretty straightforward: to remove the hassle of finding, negotiating and ultimately buying or selling a used vehicle. It only handles models that are less than 6 years old, have fewer than 60,000 miles and have never been in accident. Technicians at the company's Fremont, California, distribution center perform a 185-point inspection to ensure they're in good condition. In addition, buyers have 10 days to return the vehicle.
"People nowadays are used to buying things online. They are used to transacting with Amazon, they are used to transacting with others and so buying a car online is the next logical step," said Owen Savir, who started Beepi last year with a friend.
For people like Johnson, however, buying a car or truck online is the way of the future. As he looked at the Civic he just bought, he couldn't wait to get the keys into the ignition and take it for a drive.
A variation of this concept started in 2000, when eBay Motors introduced people to a world of buying and selling vehicles online, but you couldn't complete the process from start to finish on the internet. It was also impossible to know the true condition of the car you were buying, or whether it was sufficiently inspected.
The Los Altos, California-based company has already established itself in a space where consumers are buying and selling more than ever on mobile. Fresh off its most recent fundraising round that brought in about $70 million late last year, Beepi now operates in 15 US markets across nine states, including California, New York, the Washington, DC, metro area, Texas, and Florida.
While talking about Beepi, Messina said that "it's exciting to think about the positive impact this can have on the next generation of drivers ... it's already impacting how people of all ages approach the idea of buying or selling a car."
Beepi is a Los Altos, California company offering an online peer-to-peer marketplace for buying and selling used cars, where transactions can be carried out entirely with a smart phone or a PC. It was launched in April 2014.
LOS ALTOS, Calif., July 21, 2016 /PRNewswire/ -- Beepi, Inc., the national marketplace to buy and sell cars online, today revealed the findings of its 2016 Consumer Automotive Index, a national survey, conducted online in April by Harris Poll among 2,135 U.S. adults age 18+, that explores Americans' attitudes about the evolving experience of car ownership. One clear takeaway: people are fed up with the old-school experience of buying and selling a car at a dealership. 87% of American adults dislike something about the process of purchasing a vehicle at a traditional car dealership.
"The stereotypical used car dealer is a caricature Americans have had to deal with for far too long," said Beepi's senior automotive editor Alex Lloyd. "People don't want to waste their weekends and be upsold when there is an easier, more transparent way to do things. This study helps us better understand what people want, so we can continue to improve the experience of buying, selling and leasing cars."
About BeepiBeepi is the first startup to take on, and successfully disrupt, the pre-owned car industry. A national peer-to-peer marketplace, Beepi is a way to buy, sell or lease a quality car completely online, giving consumers a superior experience that is fast, secure and even fun. Beepi has been licensed by the Department of Motor Vehicles since December 2013. For more information, please visit www.beepi.com.
There are a few car-shopping services, however, that cater to modern antisocial commerce trends. The following services draw on technology to take as much of the hassle, and personal interaction, from buying a car as possible.
Taking unwanted mystery out of buying a used car, Beepi's technicians inspect any car before it is offered on its site. The company acts as a middleman between prospective buyers and sellers, not only arranging financing but also delivering cars to buyers for an additional charge.
Much like Beepi, Carvana curates a selection of used cars, acting as a middleman between seller and buyer. The company inspects all cars on its site and includes detailed photos. It smooths the buying process by taking care of financing and offering delivery.
Beepi is the first startup to take on, and successfully disrupt, the pre-owned car industry. A national peer-to-peer marketplace, Beepi is a way to buy or sell a quality car completely online, giving consumers a superior experience that is fast, secure and even fun. Beepi is a licensed dealer in all of the states in which it has operations. For more information, please visit www.beepi.com.
I am not a fan of the traditional process of buying a car. I hate the haggling over prices and extra features, the driving between dealerships, and all the time it wastes. I would\u2019ve loved Saturn\u2019s \u201Cno-haggle\u201D pricing model if it was still around, but unfortunately, it isn\u2019t. I\u2019m also not the type of guy who cares too much about buying a new car; seems like a waste of money when half the value is lost after driving off the lot. Fortunately, you can buy just about anything online and get it delivered nowadays without worrying about negotiations, including used cars. The used car market is facing a surge in prices right now but remains much larger than the market for new vehicles. There\u2019s no shortage of places to buy and sell them, from traditional dealerships and direct listings to various websites online that will send a car to your doorstep after purchasing it.
All these people from different dealerships were buying cars, and it only took all of 30 seconds for them to decide to purchase a car and actually buy it. If that car had an issue that wasn\u2019t reported, you could return it. I thought, could we get customers closer to that 30-second experience instead of the four-plus hours that was the status quo for car buying? If we could do it that fast and with lower costs, could we also make it simple\u2026maybe even fun?
The traditional model for buying cars is a more involved experience than purchasing online; it may be slower, but it\u2019s a much more visceral experience for customers. People like test-driving cars, sitting in the driver\u2019s seat to feel for comfort, and do a thousand other things in the dealership that can\u2019t exactly be replicated via a website. Carvana has had to create similar substitution value to overcome the lack of those sensory experiences. Part of that value has been captured in Carvana\u2019s perks, efficiency, and time savings. However, car vending machines also play a significant role. Given that the company can deliver to most people\u2019s doorsteps, the vending machines aren\u2019t the most critical facilities. However, the gimmicky and ceremonial nature of inserting a coin into an automated vending machine with the help of Carvana staff to get your new car is Carvana\u2019s attempt to capture the magic of getting a new car. While the vending machine has some practical benefits as a fulfillment center in areas that delivery is difficult, it also presents a huge opportunity for the brand to differentiate itself. When someone sees those vending machines, they know it\u2019s Carvana; getting your car from one is an even more memorable experience than driving away with one from a dealership due to the novelty. From my own experiences with Carvana and the experiences of friends, they seem to have great customer service. Whenever there were issues with cars, they were quick to schedule pickups and replacements with discounts and other perks offered for the inconvenience. This is reflected in the return policy; if you don\u2019t like the car for any reason, you can send it back. In one case, the Carvana rep recommended returning the car as it wasn\u2019t up to their standards. In person, you would be able to inspect the vehicle and identify smaller issues that may not be clear online, such as smelly interiors. Outstanding customer service and the return safety net are replacement value for the consumer rather than a substitute for the dealership experience since they can\u2019t determine quality for themselves until they have the vehicle. Without the return safety net in particular, traditional dealerships would have stomped on Carvana years ago.
But 25 years ago the idea of buying a car online would have seemed ridiculous to most people. How can you possibly buy a car from only photos, with no chance to inspect the vehicle, hear it run, kick the tires. But some of the major automakers created websites to sell cars, even used cars, online and the ability to deal with reputable companies, whose guarantees eased buyers into the online auto buying world, slowly became a reality.
Harris conducted the survey of 2,135 U.S. adults 18 and older in April 2016, on behalf of the Beepi used car online peer-to-peer marketplace. The purpose of the survey was to find out how Americans feel about car ownership experiences, including traditional and newer buying alternatives. The survey also checked attitudes about autonomous vehicles.
Sixty-two percent of Millennial women and 52% of Millennial men said they feel pressured by dealership salespeople to buy something right away. Fifty-four percent of respondents reported that they would love the ability to buy or sell a car without ever leaving their home. About 42% said they would be comfortable buying a car online if they were offered an assurance of quality, like a money-back guarantee.
A Q&A with Beepi co-founder and CEO Ale Resnik. The Los Altos, California-based startup, which has built an end-to-end used car selling and buying solution, completed a $5 million Series A funding round in mid-April. Investors include Redpoint Ventures, Silicon Valley Bank, Jose Marin, Rich Boyle, Fabrice Grinda, Tina Sharkey and Jeff Brody. It was founded last year by Resnik and Omer Savir, and previously raised $1.2 million in Seed funding back in November. 041b061a72