Startup Blinker Tries to Take the Pain Out of Used Car Sales
<music> uh from wondering i'm david brown and this is business wars daily on this monday august nineteenth come on is facing in life. There are some necessary transactions we know come with some pain. Filing taxes renewing a driver's license and of course selling or buying a used car. Hey look. I'm a car buff. I love him but even i don't like the hassle of haggling with buyers are wondering whether some stranger is good for the money and as a buyer don't even get me started on the process of financing used car dealership good heavens entrepreneurs no the used car marketplace's full tag and that pain translates into a lot of opportunities for high tech problem solving former denver car dealer rod buscher has been trying trying to simplify used car purchases since twenty thirteen when he launched blinker on his blinker app you can sell buy and finance a used car facilitated acilitator by artificial intelligence. It works like this say you want to sell your ford escape and buy something more eco-friendly well. I you take a picture the back of your car and upload it to the blinker. App up pops all kinds of info about your car. It's make its model. It's features like leather interior or satellite radio jio. It's accident history and an estimated value. You like the value so you listed for free blinker then shares that listing widely early but you don't like the idea of meeting strangers to show off the car the way you do with craigslist will blinker deals with that scary problem by verifying buyer's driver's licenses all conversations between buyer and seller happened on the app so you never have to share your phone number or email so you find a buyer but you still have a loan on the car well now what blinker pays off the loan and electronically transfers the prophet to you. If the buyer needs financing she can get get it through blinker which acts like a bank in fact. That's the way blinker really makes its money. It doesn't take a cut of the sale today. Blinker is tiny with estimated sales last year of about a million and a half dollars earlier this year at laid off close to half of its fifty person staff butcher says it was trimming down in anticipation of capital raise. The company raised ten million dollars late last month and plans to expand nationally but right now you can only use blinker in colorado texas california. Ah -fornia and florida lest you think this sounds too good to be true. Well there is one big caveat. Blinker is one of many companies trying to capitalize on the obvious that the used car marketplaces so flawed that there has got to be a better way at least a dozen app vendors wants your your business some with names of five year old car would love broom tread shift and instant motor another to not at used car divas reputations notably the apps apps truecar and fair blinker has a long way to go to beat one of its best known rivals carmax carmax. Let you search some fifty thousand vehicles vehicles for sale in contrast to hundreds on blinker of course when you're selling you may be better off as a big fish in a small pond right well. Carmax sends sends alerts when the price drops on the car. You're lusting for but unlike blinker. You can't actually complete the entire transaction on the app. Little tiny blinker had about six thousand downloads in the last month according to crunch base but given its focus on convenience and it's new funding it could soon become a real player in the national used car marketplace and perhaps help transform a dreaded experience into something kind of thought from wondering this is business war standing. Have you used an app to buy or sell far which one tweet us at business really wanna know. Thanks so much for talking back with this and for listening every day. I'm david brown. We'll be back with you tomorrow <music>.