A new platform is presenting security and efficiency solutions in online vehicle transactions. DealNow provides online transactions for vehicles including RVs, boats and cars without the need for intermediaries.
The company said the software prioritizes safety, efficiency and transparency. The system relies on automated tools to reduce human intervention, which may lead to delays or increased costs.
DealNow CEO and co-founder Brad Parker said, “We have eliminated the need for middlemen by creating a fully tech-driven platform that ensures a secure, fast and fraud-free experience. From identity verification and document signing to title checks and payment processing, everything happens in real-time.”
The platform includes fraud prevention by cross-referencing multiple sources. Once a buyer places funds in the DealNow account, transactions can be completed within 60 seconds. The platform can generate state-specific, vehicle-specific bills of sale that can be electronically signed by the buyers and owners. The documents are downloadable for future reference.
The software security measures include driver’s license verification and facial recognition technology to confirm buyer and seller identities. The system verifies mobile phone records to eliminate burner phones or SIM card swaps. Customers can opt for vehicle verification services, including vehicle history reports, inspections and title checks.
A closing fee of $150 must be paid by the buyer, seller or split between the two parties.
DealNow provides add-ons such as shipping, vehicle inspection, DMV title checks, insurance, vehicle protection and financing options. Title transfer and registration will soon join the service list.
To learn more about the platform, click here.
