Leboncoin launches the Serenity Pack: a new packaged offer to securize the purchase of second hand cars

With more than 3 million ads for sale, including 700,000 cars, and 11 million unique visitors to the site, Leboncoin is the leading sales site for used cars in France. The challenge for Leboncoin is to protect both the buyer and the seller, and to innovate in order to consolidate its position in a fast-growing used car market.

FACTS

• The Serenity Pack includes the Secure Payment and Mechanical Breakdown Guarantee, Leboncoin allows you to buy a vehicle with complete peace of mind if the vehicle is eligible (secure purchase badge):

  • Marketed from 119 euros with a 3 month guarantee,

  • Secure payment up to 50,000 euros:

  • The personal data of both parties is verified and the money is secured until the moment of purchase via the Leboncoin account

  • Before the sale, the buyer loads his leboncoin account and the seller is notified by message. On the day of the purchase, the buyer immediately transfers the money to the seller's leboncoin account

• The Mechanical Breakdown Guarantee, launched in October 2021, covers mechanical, electrical and electronic breakdowns of a vehicle purchased on leboncoin (in partnership with BNP Paribas Cardif and Icare):

  • A 100% digital P2P offer,

  • A telephone service included to assist the customer with the maintenance of their vehicle and in the event of a breakdown,

  • Breakdown/towing assistance available 24/7 (including the cost of transporting the vehicle to a garage, the cost of repatriating passengers and a replacement vehicle,

  • If the vehicle breaks down after purchase and needs to be repaired, the Mechanical Breakdown Guarantee also covers the costs.

CHALLENGES

• Securing the sale of used vehicles: a payment instrument that offers a real alternative to bank cheques and allows payments to be initiated after the handover of the keys to prevent fraud and scams.

• Digitalising cheques, on the way to cheques 2.0: the Secure Payment solution aims to replace cheques to bring even more flexibility and security to C2C transactions, following the example of BNP Paribas and Paycar solutions, BeCheck or Depopass acquired by S-Money (a subsidiary of BPCE).

• Covering breakdowns up to 3 months after the purchase of a used car: the purchase of a used car is quite uncertain. The guarantee offered in collaboration with BNP Paribas Arval covers any hidden defects and removes potential obstacles to the purchase of a second-hand vehicle.

MARKET PERSPECTIVE

• The environment for individual mobility is becoming more complex, with a shortage of new cars, the introduction of ZFE fines and the energy and ecological transition. According to an Ipsos study for Roole, "72% of French people would find life without a car almost impossible". This is why the use of second-hand vehicles is a real opportunity for them.

• The second-hand market is dynamic, mainly due to the scarcity of new vehicles. According to a Harris Interactive study, the French still prefer used vehicles. In 2021, nearly 6 million vehicles will be registered over the year. Transactions between private individuals are at a standstill due to insecurity (fraud, hidden errors, unpaid invoices, etc.), but we can observe that the market is evolving rapidly, moving from C2C to C2B and B2B, despite a market that is currently dominated by C2C sales.

• From 2035, the sale of combustion and hybrid vehicles in Europe will be prohibited by law, which should boost the used car market in the years to come.