The car buying platform launched the leasing program in collaboration with Ally Financial Inc. and the lender’s new SmartLease product, launched in late March.
“It’s a move we’re excited about, because we know that offering leases will enable Beepi to meet the needs of more drivers,” Beepi said in a blog post. “The popularity of car leases is at an all-time high, but — as is the case with many parts of the old-school auto industry — it has been more cumbersome than it should be.”
The startup claims it has simplified the process. “Choose from a selection of cars — everything from BMWs to Hondas to Mini Coopers — available for leasing and, after a simple online application, lease it for a 3 or 4-year term,” after which, Beepi will deliver the car, and pick it up when the lease term is over. “It’s that simple, the way it should be. You can lease a car without ever leaving your couch.”
Ally said that its SmartLease product is convenient to a growing number of consumers. “We believe the product has appeal across the customer spectrum, from consumers who want to lease a high-end, luxury vehicle, to others who take a more practical view of transportation and may want to drive a particular car for only a short time,” Tim Russi, president of auto finance at Ally, said in a press release. Ally partnered with Silicon Valley-based Beepi in Dec. 2015.
Learn more about the tech and disruption in the industry at Auto Finance Innovation 2016, May 11 in Fort Worth, Texas. Visit www.autofinanceinnovation.com and to learn more about the Auto Finance Risk & Compliance Summit, visit www.afrcs.com