Amazon Plans To Sell Used Cars, Will Offer Trade-In and Financing Services

Nowadays, you can buy used cars everywhere. Dedicated online platforms, dealers, and even eBay sell them. Those in the market for a car can check pricing and choose colors, trims, and equipment with only a few clicks before finalizing the transaction. Online car purchases have become as easy as acquiring a keyboard or a watch as digital shopping has evolved over the years.

Amazon will join the bandwagon and offer its customers the possibility of buying pre-owned vehicles. With new car prices rising, the used car market is expected to grow. Amazon anticipates the move will bring extra notoriety and profit.

It has been over a year since Amazon signed a multi-year deal with Hyundai so that the automaker can sell its new models through the platform. This takes the pressure off the shoulders of customers who previously had to visit a dealership to buy a car. This way, they can save time and be spared the trouble of figuring out features for their future Hyundais.

Fan Jin, director and general manager of Amazon Autos, explained the stage the retailer is at the time during Automotive News' Daily Drive podcast. They are currently adding more dealers, which will provide both new and used car inventory.

"That's really our next biggest milestone. Our focus is on dealers and how we serve the whole dealer, what they want to sell the way they want to sell," Jin explained, admitting that the team is still learning about the used car market.

Jin wants dealers to see Amazon as an avenue for a fully online e-commerce channel in a market where more and more customers are perfectly comfortable with online transactions.

Customers could either go to the dealership to pick up their new or used car or, in pure Amazon fashion, they can have it delivered to their home like any other package. The platform will provide the necessary information and options along the process, helping customers find the right car for them.

Amazon Autos will also help users get an instant valuation and trade in their own vehicles. They can also get customized financing on the platform. However, if they want a test drive, that is one thing they won't be able to do online.

Amazon has yet to finalize partnerships with dealers. The online retail giant is currently selling new Hyundais in 68 cities across the United States.

It looks like we will soon see other makes and models on Amazon. Before that happens, the two-part podcast with Fan Jin is available on Spotify.