Five years ago we found a way to buy right and sell high. We had to study and gain a deep understanding of the private party consumer selling journey. Buying vehicles from private party consumers is not only a winner in terms of incremental volume with unique trims, vehicles also come with a warm body to monetize. All the dealer has to do is better understand the consumer, treat him/her right, and put a fair and competitive offer on their vehicle. Our job is to help our dealers acquire cars, and then find other ways to take care of the customer, from fixing an open recall to selling a new vehicle.
The US private party market for used vehicles is extraordinarily inefficient and the inventory is difficult for dealers to acquire, so they buy from auction. Consumers have a hard time selling, up to 60 days, and dealers have a hard time moving uninteresting vehicles. Enter Boost's market maker offering that seamlessly connects in-market sellers across the internet with buyers. We help consumers sell within 21 days, and inventory acquired by our dealers sell in just over a week. Our technology enables dealers to efficiently reach, connect and engage with our in-market consumers, and gain access to incremental inventory that is unique and sells quickly.
Boost was founded by a team of leaders from the automotive, technology, and consumer products sectors who saw the need to improve the sales efficiency of the $160 Billion US private party automotive marketplace. Leveraging experience gained from success in other industries, Boost's sophisticated team of buy agents and cool software technology reaches in-market sellers as they enter the market, and most importantly when they are ready to sell.