DealNow, a service that enables secure online transactions for any vehicle — including cars, RVs, boats and other recreational vehicles — announced its official launch today. This platform addresses growing concerns surrounding person-to-person vehicle sales by providing escrowlike safeguards without the need for intermediaries, the company said in a release.
Buying or selling a vehicle privately often comes with considerable risks and frustrations. Recent statistics show a staggering 98% growth in synthetic identity fraud attempts during vehicle transactions, signaling a significant increase in fraud tactics. DealNow said it aims to combat these issues by offering a comprehensive solution that prioritizes safety, efficiency, and transparency. What’s more, traditional escrow services, while helpful, rely on human intervention to manage key transaction components such as funds and title transfers, introducing potential delays and increased costs.
“DealNow is a game changer for anyone looking to buy or sell a vehicle directly, without the risks or delays of traditional person-to-person transactions,” said Brad Parker, co-founder and CEO. “We’ve 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. This gives consumers the confidence and convenience they’ve been missing in the process. DealNow empowers users to take full control of their vehicle transactions with complete peace of mind.”
DealNow eliminates these inefficiencies by providing an automated, tech-powered solution that ensures quick, secure and fully transparent vehicle transactions with the following key features:
- Fraud Prevention: DealNow cross-references multiple sources to help prevent fraudulent activity, giving buyers and sellers complete peace of mind.
- Instant Transactions: Once buyer funds are placed in their DealNow account, transactions can be completed in less than 60 seconds.
- Seamless Documentation: DealNow generates state-specific, vehicle-specific bills of sale that can be electronically signed by both parties. All documents are downloadable for future reference.
DealNow leverages cutting-edge security measures such as driver’s license verification and facial recognition technology to confirm the identities of both the buyer and the seller, the company said. Additionally, mobile phone records are checked to prevent the use of burner phones or SIM swaps, providing enhanced security for both parties. Optional vehicle verification services, including vehicle history reports, inspections and title checks, are available directly within the app for added confidence.
The closing fee for any completed transaction is just $150, which can be paid by either the buyer or seller — or split between both parties. For those looking for additional services, DealNow offers flexible add-ons such as shipping, inspections and a forthcoming title transfer and registration service. Financing, insurance and vehicle protection options are also available to enhance the transaction experience.
Unlike traditional escrow services, DealNow eliminates the need for human intervention, which allows for faster processing times. By cross-referencing data points across state DMVs and leveraging real-time data, DealNow provides safety and efficiency in vehicle transactions. With DealNow, buyers and sellers no longer need to meet in person for most title transfers — a full title and registration service is coming soon to handle this digitally.
Optional Services
DealNow users can choose from various optional services:
- Shipping
- Vehicle Inspection
- DMV Title Checks
- Title Transfer / Registration (coming soon)
- Insurance
- Vehicle Protection
- Financing Options
