Company Performance Metrics
John McGuire: Vice President
CarCaddy is a website based business that seeks to link customers who are interested in trading in their vehicle with dealerships that are interested in purchasing their car for trade-in value. Dealers that sign up with CarCaddy will have the ability to bid, for up to five days, on a member customer's trade-in vehicle. The premise behind the
site is for member customers to get the most value for their trade-in vehicle and for dealers to gain a car for their inventor and, a lead on a new customer. For these reasons, dealers will be incentivized to sign up with CarCaddy. Dealers are also able to avoid the exuberant fees associated with purchasing cars at auction for their inventory.
Initially, we will offer dealers a free membership for six months, allowing full access to CarCaddy services. After six months, dealers will be charged $695 per month. Customers who sign up will not be charged any fee for the service.
A future service planned on CarCaddy includes the ability to enter preferences for a new car purchase. This information will then be sent to member dealers who will "bid" on selling a customer a car at the lowest price. Additional services planned include financing for cars, after market warranties and links to third parties such as insurance companies.
