Carvoy's co-founder and chief executive officer says he decided to launch Carvoy Ignite for dealerships after his startup was able to understand just how car shoppers operate online.
“When we first started leasing cars online, we facilitated the entire transaction on our own website,” explained Daniel Yuabov during a January phone interview with Auto Remarketing.
“We basically wanted to understand, before we build anything big, ‘how do consumers shop for cars online?’ So we built a process where you could build your own lease, choose the car you want and then you’d get three lease offers and Carvoy facilitates the entire transaction by acting as a broker,”
“And with that data, we were able to really understand how consumers shop for cars online, and that’s how we built the plugin tool.”
To recap, Carvoy announced Thursday the launch of Carvoy Ignite, an end-to-end e-commerce SaaS platform designed to convert auto dealers’ websites into an online marketplace. The digital platform is available to dealerships nationwide and easily integrates with dealers’ pre-existing systems, the company said.
The automotive-tech startup, Carvoy, the parent company of Carvoy Ignite, provides a transparent online solution to new-car leasing and user-dealer connectivity. Its technology allows users to start and finish the entire leasing process from their desktop.
In the interview, Yuabov stresses that Carvoy is a deals generator rather than a leads generator, the latter of which requires more from dealers to complete transactions.
“Carvoy Ignite, specifically, connects that gap between consumers and dealers,” he said.
“There’s either a lease online or buy online plugin,” he explained. “On the dealer end, they have the full ability to control what they would like. They can upload how much they want the car to be sold for, put their F&I products, their warranties, all the upsells and all that other fun stuff.”
He says that it only takes about 30 minutes to get set up, and after that the entire process is automated.
Furthermore, dealers have full customizability on how and what they want to sell.
“Before pushing the Ignite platform live, for absolutely no cost, we give dealers three hours of training with one of our support executives, just to make sure that they took full advantage of the technology,” said Yuabov
“The more they take advantage of this, the more cars they’re going to sell. So, it’s a very simple process to on board,” said Yuabov.
He said on the consumer end, all the consumer information that goes through the credit application is secure and is handed off to the dealer’s financing software..
“We give consumers a user-friendly experience, so it’s not just the payments; we give actual images of the vehicle, and on top of that we pull the packages and options of that vehicle. After that, the consumer is prompted to select what rebate they qualify for, whether it be loyalty, college grad, military — whatever it is. And after they go through that process, we have the consumers to upsell themselves,” Yuabov said.
Yuabov said during the shopping process consumers are offered add-ons such as dent protection or tire-and-wheel protection.