News Tech: LetYouKnow, the only online marketplace that allows consumers to set their own price for new cars, recently released apps for iOS and Android to help consumers close deals on new cars on the go and on their terms. LetYouKnow uses its patented algorithm to match new car buyers with franchised dealers across the United States.
“Consumers can now search within specific price ranges and search radii, and the results will include all new cars available within those parameters. This feature brings more flexibility to the process of finding a new car, plus consumers can choose the price range that best fits their budget. All of this helps take away the stress of negotiating a price for a new car.”
The newest feature of LetYouKnow’s apps allows consumers to search more broadly for new cars across the country. “We know that many consumers have a price in mind for their new car, but are open to the make and model, so we created a feature that allows for a more general search,” said LetYouKnow’s co-founder and CEO, Boris A. Zhukov.
LetYouKnow’s highly innovative online marketplace lets consumers dictate what price they are willing to pay to purchase a new car. They can search for new car deals through the Search Deals option or they can quote their own price with the Submit Your Price option.
LetYouKnow also offers transparent prices for buyers of new cars. The prices listed and/or bid include all dealer fees (such as documentation fees, etc.). When the buyer closes the transaction with the dealer, there are no surprise fees.
Although LetYouKnow cannot provide the exact cost of taxes and licensing/registration fees, as they vary by state and local laws, LetYouKnow has recently begun providing an estimate for taxes and licensing/registration fees to give consumers an idea of what the total price will be, further eliminating any surprises. LetYouKnow states that one of its main goals is to make the process of purchasing a new car easier and more streamlined for buyers, so it is currently developing a feature that allows consumers to pre-order vehicles on its platform.
Consumers can compile their car specifications, choose their search radius and then, as usual, quote their own price with the Submit Your Price option. “Especially with current market conditions, the auto industry is seeing more buyers pre-ordering their new cars, so we wanted to innovate technology that allows them to do this through our platform,” says the LetYouKnow team.
“We are also working on implementing shipping options for those who live farther away from dealerships or have busy schedules and don’t want to travel to the dealership to complete their transaction. Depending on distance and other factors, there may be a delivery charge, but it will be disclosed before the buyer submits their deal.” As LetYouKnow finalizes its pre-order and shipping options, which will be available by the end of 2022, it is making plans to update its infrastructure to include a host of new goods and services. By the end of 2023, the company will expand and begin offering products and services for fixed operations offered by franchise dealers, such as brake service, oil changes, batteries, alignments, timing belts, parts, etc.
For the rest of 2022, the company’s main focus is completing and rolling out its pre-order and shipping features. “At LetYouKnow, we are working hard to optimize and innovate every detail of the new car buying process and give the buyer the power to control the price of their transaction,” Zhukov said. “Our goal, whether we are helping customers find their own deals on a new vehicle or expanding our services, will always remain the same: empowering consumers by helping them find great deals by giving them price controls and making their purchases quick and easy.”
“We are very excited about these new additions because we want to give consumers the ability to buy goods and services on their own terms,” says the LetYouKnow team. “LetYouKnow really lets consumers drive the transaction, which will make consumers feel better about spending their money and generally save time and money.” LetYouKnow is also looking forward to adding other motor vehicles, such as boats and motorcycles. Next, the company will add services such as hotel accommodations, restaurants, hair salon services, car washing services, etc., to bring its vision of customer empowerment from prices to new markets. LetYouKnow’s infrastructure can adapt to any industry offering new goods and services.
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