More Ambitions for Reezocar

Reezocar, online car dealership platform focusing on used cars, is making room for long-term car leasing. Reezocar bets on an expanding market, as well as on evolving customer expectations via a strategic shift toward including this promising financing solution.

According to their forecasts, long-term car leasing should account for 75% of the car financing market for used cars in France by 2019. It could then almost match figures already observed on the market for new cars.

Reezocar’s website has been updated to stress their part as trusted third party, for purchases that can prove rather stressful, as well as to include their car leasing offers.

This new service comes with trade-in commitments and is proposed in partnership with Viaxel. It is distributed via Reezocar, following an agreement with Crédit Agricole Consumer Finance. To date, Reezocar claims 2,000 ads featuring this financing mode. Reezocar takes each car dealer’s specifics into account to adjust the amount and terms of the associated rent. The trade-in offer is still dealt with by the dealer.

Comments – Winning bet on the future

Reezocar was launched in November 2014. This French start-up committed to making it easier for car buyers to look for used vehicles for sale, and to securing their transaction. More generally, they tried to start a revolution on the market for second-hand car sales in Europe. Their work was put to the fore in 2016 when the concept won Sofinco’s Start-up Innovation Challenge. At that point, Crédit Agricole Consumer Finance partnered with Reezocar, enabling them to lay claim to greater legitimacy. Reezocar now includes a market trend and bets on long-term leasing for used cars: a car financing option consistent with today’s car drivers’ habits.

This change in car purchasing habits has been confirmed in 2017, when the French association for financial companies (Association Française des Sociétés Financières), reported that long-term leasing accounted for 74% of the selected financing options for new cars. This trend should then grow stronger on the market for used cars, too. At least, it is a bet Reezocar is ready to make.