Carjojo Launches Website Using Big Data To Give Negotiation Advantage to Car Buyers
First company to reveal insider information on all 3.5 million U.S. new cars currently for sale; Negotiates purchase price for buyers using algorithms to predict the lowest prices dealers will accept.
Campbell, CA, November 1, 2016 — Carjojo Corp., a Silicon Valley-based technology company that helps car buyers easily and painlessly purchase their new car for the lowest price possible, officially launched its website today after a three-month open beta.
The company is changing the way people buy cars by offering, for the first time, insider access to all 3.5 million new cars currently in inventory at every dealer lot in the country. Carjojo offers the most transparent, comprehensive, up-to-the-minute and unbiased data and analysis of new vehicles ever made available to the general public.
To get started, car buyers simply select the make, model, and features they are looking for, and Carjojo captures every new vehicle in the user’s search radius that matches those criteria. The company leverages its Edge2Edge™ big-data technology to calculate the lowest price each dealer will accept for the specified vehicle—dubbed the Guaranteed Best Price.
Carjojo can then negotiate the purchase on a buyer’s behalf, erasing the hassle and stress of haggling. Or, car buyers can use the information Carjojo supplies to negotiate the price themselves.
“Eighty-seven percent of people think car buying is a miserable experience, and it’s no surprise considering the process is often so intimidating and time-consuming,” says Peter Levy, Carjojo founder. “Carjojo wants to solve that. We have built technology that for the first time gives the buyer the edge over the dealer. And since the majority of people hate negotiating with dealers, we provide a service to take that off their hands as well.”
Levy has a proven track record giving customers the information they need to purchase cars with confidence. In 1986, he founded IntelliChoice, Inc., the first company to develop and distribute consumer automobile ownership-cost data and ratings of vehicles based on their consumer value. Levy sold the business to Primedia in 1997.
By instantly analyzing each dealer’s sales patterns, inventory levels, and vehicle turnover, as well as referencing vehicle popularity, market conditions and incentives, Carjojo gives buyers the confidence that they will get a great deal. This big-data approach to predicting actual car prices is best likened to travel search sites that scour almost every flight available, take into account all relevant options, and show consumers the best prices.
Carjojo enters a competitive market where traditional car-buying websites say they provide the best price, but whose undisclosed objective is to sell customer leads to a limited network of dealers for prearranged fees. These dealer agreements wind up costing car buyers much more by severely limiting the number of vehicles from which they can choose and hiding the information necessary to make a fair and accurate price assessment.
“Until now, car-buying sites haven’t solved the primary pain point for car buyers: the sneaking suspicion that they’re being ripped off—not just by dealers but by car-buying websites that claim to work for the consumer. We’re profoundly different: We take no money from dealers. We show every new car in stock at virtually every dealer in the country. Our aim is to ensure buyers don’t waste days haggling with dealers or pay a penny more than they should for the exact car they want,” says Levy. “Other sites work for dealers; Carjojo works for car buyers. It’s about time somebody did.”
When a user registers for a free Carjojo account, they also get access to:
- Deal Sheets: One-page summaries for each of the user’s selected cars, including the name and location of the dealer selling it, how long the car’s been on the lot, how much inventory that dealer currently has, how many similar cars are available from other dealers, and the Guaranteed Best Price. Deal Sheets are designed to be used as powerful leverage for negotiation with dealers.
- Dashboard: Updated in real time, a user’s dashboard is a central hub that houses their Deal Sheets, saves past searches, and displays alerts about new inventory and price drops in their area for the vehicles that they want to buy.
- Guaranteed Price Negotiation Service: For $199, Carjojo will negotiate a car purchase for the buyer, ensuring they pay the Guaranteed Best Price. The process between Carjojo and the buyer happens entirely online. Buyers skip haggling with dealers and simply pick up the car from the local dealer with whom Carjojo has finalized the deal.
“Americans love their cars but they don’t love buying them,” says Levy. “Carjojo is the first company designed to truly put the customer in control so they drive away with the confidence that they got a great deal on the exact car they want, and were able to skip the stress of haggling entirely using Carjojo’s Guaranteed Best Price negotiation service.”
Carjojo Corp. is a Silicon Valley-based technology company that uses big data to analyze all 3.4 million new cars for sale to predict the lowest prices and truly represent consumers in the car buying process. Carjojo knows that cars are much more to us than a way to get around–they’re where life happens. Their mission is to inspire life and adventure on the open road by making car buying simple, financially sound, transparent, and enjoyable. Carjojo was founded in 2014 by Peter Levy, who previously founded IntelliChoice, and the website officially launched in November 2016.
Leah Schmerl, Company B