New Delhi, Delhi, India | 24th June 2020: As India moves through Unlock Phase One, owning a car is the safest way of ensuring personal mobility. But given the overall liquidity crunch, demand has swiftly shifted towards preowned cars. Yet, buying a vehicle from the used car market creates ambiguity about whether the price being quoted is right or not.
With no major benchmark, it’s difficult for buyers to gauge the price, raising more doubts in their minds. Spinny has addressed this challenge through its ‘Fixed Price Assurance’. Having entered the preowned car market to earn the trust of customers by offering quality cars and through transparency in transactions, Spinny has already earned the trust of 10,000-plus customers.
Assuring Quality
Backed by a full-stack model, Spinny drives its business for meeting the needs of customers via multiple benefits. For example, there is no salesman margin or dealer commission since Spinny owns the inventory. Thereby, cost benefits are passed on to customers without compromising on car quality. In calculating a fair price that customers can trust, Spinny uses pricing data from all market transactions and the car’s 200-point inspection report. In this way, customers get the best price for a car without negotiating.
The fixed price model gives customers ample confidence as they ‘need’ a car to sustain their lives. When each rupee must be spent wisely, customers are cautious about overpaying but without wanting hard negotiations. Now, Spinny has eliminated subjectivity from decision-making. Fixed price ensures clarity and transparency for all customers, including the comfort of making decisions from the safety of the home, researching at their own pace and without any pressure. Fixed competitive prices are helping customers reduce the number of interactions for second opinions or visits to see other cars. In these special times, it’s turning out to be a clear benefit as the decision can be made at home while not fussing if one is losing money by not negotiating better or visiting a local dealer to compare prices.
Spinny is the first preowned car entity in India to implement this measure, despite negotiations being a traditional norm in the auto industry. Though the initiative’s success is contingent on buyers’ acceptance, the Company is certain customers will comprehend the rigour that goes into making such transactions simple and safe for a delightful buying experience.
Instead of a one-price-fits-all norm prevalent in the used car market, Spinny make use of a proprietary data based pricing engine that takes into account a car’s demand & supply data, its recent market sales and their 200 points inspection report to arrive at a fixed & fair price that one can always trust. This helps customers get the best price for every car without the need to negotiate.
A lot of market factors like new car launches and market sentiments around an existing car model can variably influence the demand & supply of a car and in turn its worth. Spinny’s star price engine is constantly updated with data from thousands of used car transactions to arrive at the most accurate fixed & fair prices for our customers. Being a full stack platform and owning the value chain, they don’t need to cater to a middle person for procuring a car or selling. Hence, they can pass off this benefit to the people of fixed price to our customer. They end up taking responsibility on their shoulders because if the offered price is not competitive enough, they have the risk of losing customer, but Spinny is confident of its pricing and the quality of the car that they are providing.
- Removes the need to check prices at different websites
- Pricing engine constantly updated with recent market transactions and demand-supply trends
- Takes into account the vehicles’ inspection report
- Fair & fixed prices for real savings
- Removes the need for negotiation, hence making the transaction simpler and efficient
“The prices have been kept fixed, as they’re already the best prices the customers can get.”
Customer Safety
A complete online-to-offline retail platform for buying and selling used cars, Spinny has implemented a contactless delivery system in promoting customer and employee safety. Moreover, it has processed significant orders during this period #WithExtraCare.
Introducing Home Test Drive #WithExtraCare, Spinny is rigorously following the necessary precautions as per WHO guidelines with customer comfort and safety as its top priority. Once on the website or the app, buyers go through three simple steps for zero-contact home delivery of the chosen car.
In facilitating online purchases, Spinny keeps the process transparent. The car’s entire history is available online with HD images covering every single angle of a car. To view the car, customers are given a real-time virtual tour. All Spinny cars displayed on the portal are open for a test drive at the customer’s home. Furthermore, the Company stringently ensures employee hygiene. Screened for their temperatures daily, the staff adheres to all social distancing norms while attending to customers.
Across cities, Spinny car hubs function as deep sanitization zones where each car is sanitized before and after every test drive, maintaining a special focus on areas that are touched frequently. Also, before each test drive, customers receive a complimentary safety kit consisting of masks, gloves and sanitizers. Once satisfied, customers can buy a car on the spot after the home test drive or call for home delivery.
