Carvoy Launches New Product to Streamline Finance Process

  • Matthew Wood
  • February 8, 2018
  • 0

© Can Stock Photo / Choreograph

Carvoy has announced the launch of Carvoy Ignite, a white-label digital plug-in for dealerships that streamlines the car-buying process to enhance the dealer experience, Daniel Yuabov, co-founder and chief executive, told Auto Finance News.

“We offer [users] the ability to apply for lending through our plug-in — through our technology,” Yuabov said. “It’s not meant to replace [the dealership], it’s meant to enhance the experience. We want everyone to win in this type of situation.”

Carvoy Ignite originally existed as only a technology that pushed live inventory, but it has been re-purposed as a brand. The new product is available to dealerships nationwide.

Previously consumers could customize a vehicle and find financing through Carvoy’s website and its network of dealers. Carvoy Ignite cuts out third-party sites, and customers can use a streamlined version of the Carvoy platform directly on the dealer’s website.

Though one of Ignite’s goals is to shorten the amount of time a customer has to spend in a dealership, Aida Takyrbasheva, vice president of business development, told AFN that Ignite will benefit both consumers and dealers.

“We’re not looking to replace any department or anything. We’re looking to enhance, we’re looking to streamline, we’re looking to automate, we’re looking to digitize,” Takyrbasheva said. “At the end of the day, in my opinion, the car-buying experience is a relationship type of business, so we’re absolutely not trying to take that portion out of it. We’re just trying to make it easier.”

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