Car Sales Recovering — How Trustap continues to help

Car Sales Recovering — How Trustap continues to help

Due to the Covid-19 pandemic, both used and new car sales have taken a drastic hit over the last couple of years. As restrictions ease, however, the automotive industry is beginning to recover and grow.

The combination of the uncertain times and lack of trust between buyers and sellers on car marketplaces has certainly had a dramatic impact on the decision to purchase a new or used vehicle.

The U.K’s figures, although substantially behind the progress of the U.S. market, are slowly beginning to recover too. Leads to dealers are already higher than February levels according to CarGurus with all signs pointing to there being an eventual growth in vehicle sales that outpace seasonal norms in the U.K.

Several marketplaces have decided to integrate Trustap’s solution, which helps to eliminate this trust issue, by offering a payment solution that completely protects users from being scammed when they want to buy or sell with someone they don’t know. Implementing this directly on car marketplaces provides users with on-site protection from potential scammers and a quick and easy way to pay deposits for vehicles of interest.

The majority of Canadian car-buyers for example, over 62%, are open to making their car purchase entirely online, a 32% increase from before the pandemic. This can be achieved safely through Trustap’s Milestone Payment Model, a simple four step process that combines online payments with face to face meetings allowing both the buyer and seller to have complete transparency over their transactions.

An integration brings about numerous benefits for potential partners such as data insights, qualified leads and the elimination of fraud on their site. Coupled with a quick and easy integration process, marketplaces can ensure that their users can transact with strangers with complete peace of mind.

Car marketplaces can enquire about partnership opportunities at on our Partners Page whilst users can still avail of Trustap’s secure payment platform even if it’s not integrated on a particular platform.

By Luke Nicholson