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Private Party Car Sales Made Easier

Private Party Car Sales Made Easier

Almost exactly one year ago, I introduced you to a new payment app for private party auto sales.  PrivateAuto launched as a means to remove the biggest friction point in private party car sales–the payment transaction.  Instead of carrying a stack of cash or putting faith in a cashier’s check, both parties in the deal have a way to safely transact up to $1M–at any time of day.

Why is this a big deal?  Last year, around 35 million used cars were sold.  Of that total, around 17 million (or 48%) were sold by private parties.  Imagine the hassle of working through your bank (during the limited hours they are open) to secure the funds to make a purchase.  Now, think about being able to make the purchase anywhere, at any time, using an app.

Huge.

Changes At PrivateAuto

Since last year, PrivateAuto has been busy growing their business and adding services from trusted partners.  I have been watching their progress and am impressed with the new features they offer.

Brad Parks, PrivateAuto CEO, posted his car buying story on LinkedIn last month.  He located an Audi Q5 in California and was able to arrange a vehicle inspection, payment and shipping using his app.  That caught my eye, so I reached out to Brad and his chief marketing officer, Caleb Whittle, to learn more about their evolution.

At the core of PrivateAuto’s original offering was the vehicle listing and payment service. In the past year, they’ve added the features shown in the image above using trusted partners.  Whether you are buying a classic car or a like-new used car out of state, the ease of scheduling inspection and shipping services alone are worth it.

Challenges

From a car guy’s perspective, this all sounds pretty good.  What’s the catch?  The biggest challenge for PrivateAuto is the awareness of their product and the ability to convince private parties that this is a legitimate service–especially for the payment transfer.

Anyone who has bought or sold a car using Craigslist or Facebook Marketplace has experienced scammers along the way.  As good as those platforms are for listing vehicles for sale, someone is out there looking to take advantage of you.  Talking with Caleb, he acknowledges that this is a concern.  When asked how to overcome skepticism from prospective buyers or sellers, Caleb offered this advice:

  • For sellers, he recommends that you use their vehicle listing service to promote your car.  You can then place a link to your listing in a Craigslist ad and an image of the QR code in your Facebook Marketplace images.  This preps the buyer for the use of PrivateAuto.
  • For buyers, they should bring the use of the PrivateAuto payment app early in the conversation with the seller. When discussing cash, cashier’s check or wire transfer, add a fourth option–the payment app. Give the seller time to review the PrivateAuto website and excellent FAQs.

Final Thoughts & Questions

Through my conversation with Caleb, I discovered that vehicles transacted on their app between $900 for an old Audi to $120,000 for an overlanding van.  There is no typical buyer or seller, so this is a service that should attract everyone.

Let me know if you have any thoughts or questions.  You can reach me in any of the following ways:

Email: wct.billtaylor@gmail.com

Instagram:  vehicle.nanny

Facebook:  Vehicle Nanny

Want to learn more about me?  Go to this article:   Who’s Your Nanny?

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1 Comment

  1. tempmail

    I do not even know how I ended up here but I thought this post was great I dont know who you are but definitely youre going to a famous blogger if you arent already Cheers.

    Reply

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