TrustedCars Flex
What is TrustedCars Flex?
Significant change in the behavior of consumers
Modern customers prefer convenient, flexible and affordable solutions rather than being locked into long-term contracts or having to spend time on a purchase that is plagued with uncertainty.
But if you need a vehicle today and you don’t want to buy one, your options are limited. Current mobility concepts like ride-hailing, car sharing or leasing are either too expensive, not available in your city, unreliable or lock you into long-term contracts.
On the other hand, dealerships usually have hundreds of used vehicles just sitting on their lot, on average more than 100 days and costing money every single day.
We have designed a solution that offers consumers an affordable, all-inclusive and commitment-free way to have a car and at the same time offering dealerships an additional source of income and access to a new generation of consumers.
This is how it works
With our paperless end-to-end solution you can choose any car you want from the available inventory of participating car dealers, sign for it in the app and you are ready to go. Drive the car as long as you want and return it or swap for another car anytime. With no fixed costs or long-term contracts but for a low weekly payment including all expenses.
Sign up
Quick sign-up process within the App.
Choose a car
Choose any car you want. No surprises with our all-inclusive pricing.
Sign for it
Sign for it right on your phone.
Swap anytime
Freedom to drive the car you want as long as you want.
Customers
Market Problems
Prefer flexible solutions instead of longterm contracts.
Current alternatives are incovenient, expensive, not available in their area or not reliable.
Are used to immediacy.
Prefer easy and paperless booking process.
Process of purchase is inconvenient, time-consuming and plagued with uncertainty.
Price sensitive.
TrustedCars Solution
Commitment-free and flexible solution with no long-term contracts.
Paperless and easy booking process, all in one app. Get a car on your phone and return or swap it anytime you want.
An all-inclusive and affordable solution with fair prices and no hidden costs.
Peace of mind. Transparent low weekly payment including insurance, warranty, registration, taxes, maintenance and any other expense that comes with owning a car.
Car dealerships
Market Problems
Vehicles sitting on the lot cost money every single day, $15 per day per vehicle.
On average it takes 100 days to sell a vehicle, some vehicles even 6 months or longer.
A lot of unused and depreciating asset.
Business model has not advanced for decades.
No access to customers who prefer not to own a vehicle.
No expertise in IT, e-commerce, apps, marketing etc.
Can't afford big investments into technology and marketing.
TrustedCars Solution
Turning Dealerships into innovative mobility service providers
Additional source of income from unused cars on the lot.
Prevent damages incurred through unused stock of cars.
Access to a new generation of customers who prefer flexible and easy accessible mobility solutions.
Potential future customers for car purchase and garage services.
Solving problem of time-consuming test drives with our AI powered technology.
Turning dealerships into mobility service providers
We don’t just want to solve the problem of dealerships with their increasing lot time. More importantly, we firmly believe that the business model of dealerships will change dramatically in the long-term as a consequence of our advancement.Dealerships will not just continue with their traditional business of one-time vehicle sales but provide new mobility concepts for a new, emerging generation of customers.
But more than 90% of dealerships don’t have any expertise in IT, e-commerce, AI, chatbots, apps or marketing to provide such a solution. TrustedCars Flex as a high-tech company will help dealerships move up the technology change curve, with an easy accessible all-in-one solution turning dealerships into mobility providers without any upfront investments.
Secure and incorruptible infrastructure
Right car at the right time, and all with a few taps on your phone, with our paperless end-to-end solution. Using Ethereum-based smart contracts through which all funds are secured and transferred, the TrustedCars Flex ecosystem, as a secure and incorruptible infrastructure, will fundamentally transform the consumer experience in vehicle use and ownership.
Our Achievements with TrustedCars
The contribution of TrustedCars to TrustedCars Flex will not only be IT and infrastructure, but also an introduction of the TrustedCars Flex concept to our car dealer partners and share of a TrustedCars talent pool of developers, support, sales and marketing teams.
Established ecosystem of long-lasting and renowned partnerships
E.g. TUV Rheinland, DAT Group, Deutscher Auto Dienst, Sicherbezahlen and many more.
Large network of dealerships
More than 100 of the largest and most renowned dealerships already trust and work with us.
One of the largest Online Shops for used cars worldwide
More than 30,000 listed cars in 2017 and currently more than 8,000 cars available for purchase.
Existing minimum viable product
What we have developed over the last three years will serve as a minimum viable product for TrustedCars Flex to begin operations.
Roadmap
October 2015
TrustedCars founded – with the vision of bringing online-shopping as a major part of modern society on to the automotive industry.
2016
February:
Seed financing
June:
Launch of TrustedCars.com
Establishment of various partnerships: with TUV for the inspection of used cars, with the largest bank for car-financing, with renowned car dealerships and with insurance & warranty companies.
2017
March:
Relaunch of TrustedCars.com - with very high level of automation for the quick upload of cars through the implementation of a dealership-interface and the DAT database.Series A Financing
September:
Participation at IAA as an Exhibitor – the largest Fair for mobility and the automotive industry in the world.More than 30,000 cars listed on TrustedCars in 2017, with more than 100 car dealerships participating.
2018
May & June:
TrustedCars FLEX Token Sale
2nd half:
Development and integration of blockchain and smart contract technology. Token listed on Exchanges. Beta Launch with our existing car dealership-network in Germany.
2019
1st half:
Official product launch in Germany. Release of iOS and Android App enabling customers to get a car with a few klicks on their phone. Launch of payment system enabling users to receive and make payments in TrustedCars FLEX Tokens. Translation of website into various languages.
2nd half:
Concrete plans set and ready to expand to UK, France, Italy and Spain. Including Multi-Language support.
2020+
1st half:
Expansion to the rest of Europe. Extension of FLEX Tokens for payment of various automotive services, like carwash, parking and other vehicle related services.
2nd half and beyond:
Expansion to USA and key cities worldwide. Onboard advertisers and retailers to promote products using FLEX Tokens (Further value increase of Tokens).
TEAM
Founder, CEO
Founder, CTO
Head of Sales & Operations
Head of Development
Head of Front-End Development
+12 others
Strengths
- Roadmap seems highly realistic considering the team size and goal for funding
- Large and capable team with expertises in IT, business and product development
- Large and active social media communities. Great visibility
- Proven and successful history of the managing organization
Potential concerns
- Hard cap seems a bit too high considering the managing organization is already successful and has raised 7 digit funding
This project has a lot of potential to disrupt the existing car renting industry with innovative use of blockchain technology and smart contracts.
One concerning point is the hard cap which in our opinion is a bit too high and unattractive for investors.
