As one of the most expensive purchases you will ever make, buying a car can be both intimidating and frustrating. New online virtual car dealer Shift hopes that it can make the experience both seamless and stress-free.
Online shopping is already an enormous and successful business market. The success of online shopping giant Amazon has shown just how big virtual shopping has become.
With just a few clicks, you can buy almost anything online these days. Why can’t car buying be the same experience? This is the goal that Shift is attempting to accomplish.
The main advantage a physical dealership has over a virtual one is that you are able to see the car with your own eyes as well as sit in and test drive the car. Shift hopes to combat this by bringing the car directly to your home for a test drive.
The hassle of getting a loan is another aspect of car buying that Shift hopes to reduce. Shift is working on a product called “Zero Touch” that allows customers to get a loan and buy a car online without interacting with a sales associate.
Millennials have been known to be more reluctant to purchase a car than previous generations, but are more likely to make online purchases. Shift hopes to reach the growing population of millennial car buyers by reaching them through their preferred method of making purchases. Half of all Shift buyers are millennials, more than double that of its closest competitors.
Other companies have taken notice of Shift and its potential and has attracted investors such as DFJ Capital, Goldman Sachs, and BMW.
What do you think of Shift and what they are trying to accomplish? Do you think the days of traditional used car dealers are numbered? Let us know in the comments!
In other news, have you heard about this new grocery store?