Honcker Announces Partnership with Carvana

NEW YORK, April 23, 2019 /PRNewswire/ -- Honcker, an on-demand platform transforming the car leasing experience, announced today a partnership with Carvana (NYSE: CVNA), a leading online used car retailer, that will integrate Carvana's proprietary technology into Honcker's on-demand car leasing application. Car owners can now obtain an offer on their existing vehicle to sell to Carvana, and start a new lease with just a few swipes. The partnership creates the first-ever end-to-end digital platform for selling an old car and getting into a new lease, without setting foot in a dealership. The integration is live today on www.honcker.com and within the Honcker mobile application.

"Honcker has already made technological leaps in how people can lease a new car and now, by integrating the process of selling a used vehicle on our platform, we are solving a problem for consumers," said Nathan Hecht, founder and CEO, Honcker. "Our mission is to modernize the car leasing transaction by making it as easy and seamless as booking a plane ticket online. Carvana shares our vision for what the future of auto retail looks like, and I couldn't be more excited about this partnership."

According to Edmunds, approximately 43 percent of consumers interested in leasing a new vehicle have a used car they would like to sell or trade in. Previously, the transaction of selling or trading in an old car had to take place outside of Honcker's platform at a dealership. Now, Honcker customers can request an offer in just minutes, arrange pick up of their current vehicle and receive payment, all through Carvana's trusted and innovative technology.

"We're known for our new way to buy a car – entirely online, with exceptional customer service – though it's just as easy to sell us your car," said Dan Gill, chief product officer, Carvana. "By offering customers the ability to sell their existing vehicles to us, seamlessly within the Honcker app, we are creating a fast and convenient solution for Honcker users."

The car leasing and rental market is forecast to be worth $124 billion by 2022, representing approximately 35 percent of total car sales but growing rapidly. Honcker aims to revolutionize the car leasing experience with an end-to-end platform that makes the entire process digital by providing actual monthly lease payments and the ability to complete the transaction online. Honcker works with more than 1,000 car dealerships directly across 12 states. In 2018, Honcker doubled its staff and saw downloads of its mobile app grow by 5X with revenue growing 7X year-over-year.

To learn more or to download the app, visit www.honcker.com

About Honcker
Founded in 2016, Honcker is transforming the way people get in and out of cars. Honcker's on-demand, end-to-end platform turns today's arduous leasing process into a five-minute transaction, done from the comfort of your own home, including price transaction and delivery all in the app. Honcker is headquartered in New York with a presence in markets nationwide. Learn more at http://www.honcker.com.

About Carvana
Founded in 2012 and based in Phoenix, Carvana's (NYSE: CVNA) mission is to change the way people buy cars. By removing the traditional dealership infrastructure and replacing it with technology and exceptional customer service, Carvana offers consumers an intuitive and convenient online car buying and financing platform. Carvana.com enables consumers to quickly and easily shop more than 15,000 vehicles, finance, trade-in or sell their current vehicle to Carvana, sign contracts, and schedule as-soon-as-next-day delivery or pickup at one of Carvana's patented, automated Car Vending Machines. For further information on Carvana, please visit www.carvana.com.

Contact Information:

Honcker:
Nicole Smith
212-314-7361
[email protected]  

Carvana:
Amy O'Hara
602-558-7848
[email protected] 

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SOURCE Honcker