CaixaBank's turn to sell used vehicles

In the race to diversify financial actors, CaixaBank Just signed a new breakthrough. The Spanish bank has indeed established itself in the market for the sale of used vehicles, relying on an online platform to push its financing offers. In particular, it confronts the recent Amazon initiative on the subject and thus helps to remove competitive barriers.

FACTS

• CaixaBank has just presented a new online portal dedicated to financing used vehicles. Baptized Facilitea Coches, this new space is presented as a virtual showcase open to car dealers.

• The Spanish bank, in order to carry out its new offer, is looking at a collaborative work started with More than 150 dealers.

• Facilitea Coches must first and foremost present a catalogue of used vehicles available on the market. All dealers are invited to get closer to CaixaBank to gain visibility thanks to Facilitea Coches.

• CaixaBank estimates that Facilitea Coches will offer a catalogue of some 5,000 vehicles Under 6 years of age and under 100,000 km at its launch. 30% of these vehicles will also benefit from the Zero and Eco label.

• The bank will also rely on Facilitea Coches to highlight its offers of car financing on terms, announced, as very competitive. Dealers will be responsible for the sale and delivery of vehicles.

• First accessible to CaixaBank customers only, Facilityitea Coches will then be open to all Internet users during 2025.

ISSUES

• Boost your credit offer : With Facilitea Coches, CaixaBank hopes to form a reference platform for the purchase of used vehicles, on which it can highlight its own financing offers and thus disrupt competition.

• Complete your device CaixaBank highlights the fact that Facilitea Coches is enriching an existing facility, Facilitea, a platform offering financing of different kinds, aimed at meeting the major needs of the bank's customers. A successful approach since CaixaBank believes it has granted more than EUR 9 billion of consumer credit over the first 9 months of 2024 (+ 15% compared to the same period of 2023).

• Relay concessions : CaixaBank also wants to make Facilitea Coches an online relay for dealership offers. It highlights its status as a leading historical bank to ensure the visibility and confidence that its platform can generate.

PERSPECTIVE

• The launch of Facilitea Coches intervenes only a few days after Amazon's announcement that is beginning to deployAmazon Autos in the United States. The goal of the Web giant is similar here: to create a digital showcase of new or used vehicle offerings, relaying dealers. Again, vehicle financing is offered directly on the platform.

• Facilitea Coches once again demonstrates that the deployment of this type of offer concerns the market in general and internationally. Especially comma It not only mobilizes a type of actor, but both banks and web giants specialists and in online sales.

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