A new used car marketplace from the man who created LoveFilm and Zoopla launches today. Cazoo aims to make buying a used car simpler.
The entire process of buying from Cazoo is online, with home delivery offered. The difference here is that Cazoo actually owns all the cars it stocks, with each prepared and readied for sale at its 55-acre facility in the Midlands.
Each car is MOTed, comes with service history and goes through a 150-point check as it comes into stock. Cazoo says it wants to ‘Amazon’ the used car market.
Buying sight unseen – how will it work?
Buying a car without inspecting it in person is usually seen as risky.
Cazoo wants to remedy this by offering the most comprehensive advertisements, with the lowest possible prices. Each ad has high-quality 360-degree images, with the car’s full specification and history included. The prices are fixed and the adverts are transparent, in an attempt to keep everything upfront.
If you buy, your new purchase should arrive within three days. After that, Cazoo has a seven-day money-back guarantee, to ‘replace the seven-minute test drive around the block’. If it’s not working for you, they’ll collect the car for free, no questions asked.
“Used cars are one of the last remaining consumer markets yet to benefit from any digital transformation,” said Alex Chesterman, founder and CEO of Cazoo.
“Cazoo makes used car buying simple and convenient like buying any other product online today. We take away the need to travel, to haggle, to spend countless hours at a dealership and to risk any buyer’s remorse.”
The company announced another £25 million of funding today. The venture now has £80 million behind it, making it one of the UK’s best-funded new businesses ever.