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MintList Unveils Canada's First Two-Sided Online Auto Marketplace; Enables Consumers to Save Thousands by Selling and Trading-Up to a New or Used CarAs an ongoing shortage of cars amid the pandemic continues to limit options for Canadians looking to purchase a vehicle, consumers are turning to MintList, a tech start-up that's modernizing the way cars are bought and sold. MintList announced today that the company has officially launched Canada's first two-sided online vehicle marketplace, enabling consumers to sell their privately owned vehicles for the highest value possible and buy a new or used vehicle from extensive inventory across a vast network of pre-approved dealers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220818005692/en/ Buying and selling vehicles online is the future of the retail car business in Canada, and MintList is making this entire process easy for everyone through a two-sided marketplace that provides the convenience, choice, and confidence that consumers require. By providing transparency each step of the way and enabling competition among dealers in how they acquire and sell their inventory, MintList ensures consumers not only get the highest value for their used vehicle but also save on the taxes for their new car purchase. (Photo: Business Wire)
MintList is making it easier for conumers to sell and buy a vehicle
Once the seller accepts an offer, they have the option to receive their money within 24 hours or use the funds to purchase another vehicle (new or used) from the extensive inventory offered by hundreds of authorized dealers in the MintList network. A key advantage that MintList delivers is the ability for consumers to sell to any dealer and buy from any dealer.
Savings consumers thousands of dollars in tax savings
"Buying and selling vehicles online is the future of the retail car business in Canada, and MintList is making this entire process easy for everyone through our two-sided marketplace that provides the convenience, choice, and confidence that consumers require," said Mike Wood, co-founder and CEO at MintList. "By providing transparency each step of the way and enabling competition among dealers in how they acquire and sell their inventory, we ensure consumers not only get the highest value for their used vehicle but also save on the taxes for their new car purchase." According to a MintList survey of 300 consumers, 66% were not aware that they are entitled to significant tax savings when they trade in a vehicle and purchase another vehicle from the same dealer. In the past, these tax savings were only allowed when using the same dealer for both a trade-in and new vehicle purchase. However, MintList now provides this benefit to consumers that sell their existing vehicle on MintList and choose to use the funds to purchase another vehicle within seven days from any dealer on the MintList platform. "It's an industry game-changer when sellers no longer have to visit car dealerships and invest hours or days trying to get the best price for their trade-in, only to receive a disappointing offer," said Mehrsa Raeiszadeh, co-founder and COO at MintList. "Plus, those looking to buy a vehicle no longer need to visit dealer lots or arrange with private sellers for viewings and test drives. They simply check dealer inventory, reserve the car they love with a refundable deposit, head to the dealership for a test drive, and can then either buy the vehicle with confidence or get their deposit back. And of course, when both transactions take place on MintList, the tax savings can be significant." The MintList automotive marketplace is currently available to consumers in British Columbia, with plans underway to expand into other provinces.
About MintList
View source version on businesswire.com: https://www.businesswire.com/news/home/20220818005692/en/ |