A Carfax report claims that as many as 800,000 used cars on American roads have been involved in illegal "title washing." (Photo : Reuters)
Two college students have developed a new car-buying service that makes the process much easier for shoppers.
Loyola Marymount University student Jason Silverberg designed the service, which eliminates hassle for buyers by helping them make their own deal to send to dealerships.
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A junior in the school's College of Business Administration, Silverberg is also part of the university's Business Incubator program.
Nabthat, which launched at the Los Angeles Auto Show last week, lets potential car buyers pick out the make and model of the car they want and have their credit score checked for free. Sales managers who have signed up with the service can look over the deal to see if they want to counter the customer's Request for Sale.
The service's RFS platform is patent-pending and allows the buyer to work out the details before making one simple trip to the showroom to sign papers and pick up the new car.
"You are able to send your deal to a lot of dealerships, and you are going to get a lot of responses, and you get an excellent deal without spending a lot of time," Juan Jose Galvez, one of the Nabthat partners, said in a press release.
Nabthat advantages both the buyer, who saves time by easily sending the same information to multiple dealerships, and the dealer, who gets a prequalified buyer who is prepared to sign a deal for the right price.
More than 50 dealerships representing carmakers worldwide are signed on to the venture, including Volkswagen, Honda, Chevrolet, Infiniti, Toyota, Mercedes-Benz, Fiat, Porsche, Audi and Mazda, said the press release.
Nabthat was highlighted at the L.A. Auto Show with a flash mob event on Friday and a car caravan on Saturday.