Carjojo’s® New Features Predict the Lowest Prices on New Cars
Carjojo shows consumers full transparency on virtually every new car for sale on dealers’ lots in the U.S., ensuring they get the lowest est. price.
SAN FRANCISCO, APRIL 6 — Delivering on its commitment to ensure car shoppers can easily find the new vehicles of their dreams and pay the lowest prices for them, the automotive research portal and car-buying service Carjojo.com today unveiled a broad set of features that further empowers buyers to get the best deals on new cars.
Using its proprietary Edge2Edge™ big-data technology, Carjojo collects and analyzes hundreds of millions of data points daily on all new cars on dealers’ lots. Edge2Edge™ leverages machine learning to calculate thousands of permutations to predict the lowest price a dealer will likely accept for any particular car it’s selling.
“One of the biggest complaints we hear from consumers when buying a new car is they have no idea if they are getting a good deal or not. When Carjojo launched in November 2016, we set out to level the playing field between car buyers and dealers, by giving car shoppers complete unfiltered information that will help them in the negotiation process, details that had previously been available only to dealers,“ says Peter Levy, Carjojo’s Founder and President.
The next generation of Carjojo’s Edge2Edge™ technology debuting today powers a new set of features that arm car shoppers with even more insider information to give them the advantage in the new-car-buying process. These features include:
- Smart Search with Speech Recognition: An intelligent new search engine that incorporates natural language processing – replacing Carjojo’s previous filtered-search system – in which site users simply type or speak the car they’re looking for. Then, Carjojo autocompletes the search with suggested car makes and models and returns every relevant car in the user’s area. Like Google Search, Carjojo scans the Internet for every new car currently for sale on dealers’ lots, close to 4 million new cars. It is the only new-car-buying service that creates this complete and unbiased database of all vehicles. Because its competitors take payments from dealers to act as their sales lead generators, their directory listings only return those cars that cooperating dealers choose to show.
- Buying Environment Rating: Using color-coded symbols, Carjojo’s proprietary rating system analyzes seven key market factors — local inventory levels, the car’s time on a lot, local sales conditions, and more — for each car, based on the degree to which that factor helps (or hurts) a buyer’s chance to get the best deal possible on that car, that day.
- Visual Price Comparison: A large, easy-to-read graph shows Carjojo’s Lowest est. Price directly against the price offered for that same vehicle by competitors. Carjojo saves buyers, on average, $4,400 off sticker price and $1,400 below ordinary car-buying services.
- Rebate Calculator: An interactive tool that identifies every rebate available on that car, including military rebates and private offers, ensuring the Lowest est. Price includes every discount for which a buyer’s qualified.
- Map: Every vehicle that matches a user’s search is now displayed on a map that quickly lets users inspect the available cars across all of the dealers in their area, and pick ones with convenient locations.
“The new features we’re rolling out today showcase the power of our Edge2Edge™ technology, by putting even more never-before-available information in the hands of car buyers” says Levy. “Our goal is to be the first and only destination any car shopper needs to visit online, allowing them to buy their next car with ease and confidence. Today’s upgrade brings us closer to that mission.”
Carjojo supplies the insider information it collects on any car – including its Guaranteed Best Price – for free to any user. For $79, Carjojo will negotiate with a dealer on behalf of a buyer to secure the Lowest est. Price, if a buyer doesn’t want to do it him- or herself.
Carjojo Corp. is a Silicon Valley-based technology company that uses big data to analyze all 3.9 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.