Swap Motors, the Online Marketplace for Selling Cars, Launches Service in Chicago.
CHICAGO [DEC. 1, 2016] -- Chicago-based automotive startup Swap Motors announced today the launch of its service in the Chicago metropolitan area. The company provides a platform for car owners to sell their vehicles directly to hundreds of dealers bypassing all the middlemen that typically dissect the value distribution. Soft launched in October, 2016, to integrate both online and offline processes, the company has facilitated 10 car sales so far by the end of October. With the full-service launch, Swap Motors expects to have 250 cars sold on its website by the first quarter of 2017.
“The idea to build this marketplace came from my own experience when I tried to sell my car. I didn’t find enough time due to work and family commitments. I tried to sell the car online and also through trade-ins. The whole process was time consuming and involved a lot of hassle. Not to mention, the low-ball offers I got at those places,” said CEO and founder, Alex Johnson.
There are several issues underlying selling used cars by the owners themselves – time constraint; driving dealer-to-dealer for getting the best price they can; listing local classified ads and dealing with strangers, which is becoming increasingly unsafe. These issues are critical and remains unresolved.
“For this reason, we have built a platform to address each one of them and offer a solution through a unified service. Car owners can now sell cars online, at their own time for a better price and value, and without leaving the house. Once the car is registered online at SwapMotors.com, we have a team that does on-site inspection, takes photos and videos of the car, and makes it available for hundreds of dealers to bid for it. For the end dealers, we offer them an opportunity to buy inspected and qualified cars, directly from car owners, and not from auto auctions where they usually buy cars to resell. It’s a win-win for both car owners and end dealers.”
The website, SwapMotors.com, allows car owners to register in simple steps, setup an appointment with the team for an inspection and track the status on its dashboard. “We challenged ourselves to achieve building a platform that is user-friendly, without compromising on aesthetics and technology. I’m happy that we achieved it. Even for someone who is less proficient in online usability, our website is easy to navigate and interact through,” said co-founder and head of strategy and technology, Sanjay Patel.
The Chicago-based startup chose to go self-funded for its current phase of business operations despite receiving interest from several investors. The reasons for taking such a decision are: achieve unhindered operational excellence and create an unmatched experience for customers. On the growth end, Swap Motors has plans of expanding its online car selling service to other states by the end of 2017.