Joydrive Teams with Dealers for Home Delivery
Aug. 10, 2018—Joydrive, a recently launched online automotive retail marketplace, has announced partnerships with dealerships for home delivery of vehicles.
Joydrive’s main business objectives are to help consumers order vehicles from home, arrange financing from their phones, and have cars delivered to their driveways. And, while dealerships might seem like unlikely allies for such an online retailer, Joydrive has already partnered with more than 50 dealerships with a combined inventory of 12,000 vehicles for its platform.
While some dealerships have been hesitant to partner with such online retailers in the past, dealers are now acknowledging the fact that some online dealerships, like Carvana, are selling nearly 90,000 units per year.
Financing penetration on the Joydrive platform is around 60 percent, because dealers can tap into their lender networks, which usually include local credit unions that are offering competitive rates lately, said the retailer’s chief executive, Hunter Gorham, in an interview with autofinancenews.net.