In my opinion, it was only a matter of time before the car industry blended into the world of discounts and vouchers. It seems as though Finance Acar.co.uk will be the first to test the highly competitive auto selling waters with the launch of CarRush.co.uk. The site is being promoted as the world’s first dedicated group buying website for new cars providing those in the UK with exclusive, unbeatable and weekly deals with discounted up to 40 per cent.
Having accessed the site, I can tell you that some of the deals seem pretty sweet. The first deal I came across was a new Peugeot 107. The deal that suggests the 47 monthly payments would be equivalent to a monthly cell phone plan. The payment is 79bp (about $125) to me that seems like a rather high cell phone plan but perhaps CarRush is talking about the family plan. The site is hoping that the suggested savings will promote more consumers to purchase new vehicles.For those that can’t wait to log on and snag a car for 60 cents on the dollar, you may want to hold on. To even be eligible for one of the new cars, members must first purchase a refundable ‘CarRush Coupon’. The coupons range in cost from £99 to £199 ($157 – $315) and that only secures a deal.
Using the Peugeot 107 as an example, not only is a £99 ($157) voucher required but a deposit (20% down payment) of £1600 pounds ($2540) is also required. On top of that only after the financing is approved will the vehicle be delivered to the customer’s door by a franchised dealer, complete with the full manufacturer’s warranty. This little car gets over 65 mpg, most of our hybrids don’t even match that number.
If you are looking for a luxury vehicle, CarRush is sponsoring a new Mercedes C180. The voucher on this one runs about $240. Throw in $4400 down, financing approval and one could own a very sweet ride for only $315 a month for 35 months.
Other vehicles and prizes
Of course there will be car buyers looking for vehicles that aren’t offered on CarRush.co.uk that week. No worries, simply sign up as a member and specifically request a deal on the desired new vehicle. The company employs ‘reverse group buying’ to source that particular vehicle in bulk. CarRush will then offer the discounted vehicle exclusively to those members. Members will also receive weekly alerts for new deals, £50 ($80) per referral and will automatically be entered in prize drawings for fantastic items such as a 3D, 42″ TV and home entertainment system.
Why the discounts? According to Redshift Research polling of 1000 motorists, offering a 10 percent on a new vehicle almost doubles the number of consumers who would buy a new car in the next three months. Taking the discount to 30 percent would quadruple the amount of people willing to buy a new vehicle. Another fun fact the survey showed is that 33% of “consumers would buy a new car online if the deal had a very good discount and if it was supplied and delivered by a major dealer, with the manufacturer’s warranty.”
CarRush.co.uk has the backing of powerhouse FinanceAcar.co.uk. FinanceAcar.co.uk happens to be the UK’s leading car finance comparison site. In a recent press release, Mark Peatey, Director and Co-Founder stated that: “The last 12 months has seen a growth of 42 per cent in the amount of new car finance provided to consumers. CarRush.co.uk removes the need for new car buyers to shop around for the best price and finance deal, as it combines the deals for both, in one unbeatable low monthly price. CarRush.co.uk also allows consumers to tell us what car they want and we will then source an unbeatable car and finance deal on the vehicle of their choice.”
The vehicles are guaranteed genuine and are offered by franchised dealers. Members are not charged for the ‘CarRush Coupon’ until they have reached an agreement with the CarRush.co.uk customer service team. Once the member has his or her order and stock confirmed, he or she can then state that they want to proceed.
This is quite an interesting concept. Other than the handful of vehicles offered from time to time by sites like The Gilt Groupe, there is nothing of this magnitude in the US – at least not yet.
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