Have a used car to sell but don’t know where to go, whom to approach? Don’t worry anymore, because now you can sell your used car yourself without any middleman at Droom. Founded in April this year in Silicon Valley, the Gurgaon-based startup prides itself on being India’s first marketplace to buy and sell used and new automobiles.
At Droom, they understand that the whole process of selling and buying an automobile can be completely broken and full of pitfall, stress, pain points and anxiety. Hence, they try to make the whole process smoother and much easier by building trust, increasing transparency and mitigating information asymmetry between two users interested in buying or selling their cars. They try their level best to make the experience of selling and buying automobiles worry free and less cumbersome.
Buying a vehicle is very easy at droom. Firstly, you just have to find a vehicle of your interest. You can search, sort, filter and shortlist the vehicles that interest you the most. The second step involves building trust and comfort. In this step, you’ll review and evaluate the listing details. Droom makes sure that they have a rich catalogue of information on the vehicle, including the history and condition of the vehicle, seller background, and the authenticity of the vehicle. The third step involves paying the commitment fee. This fee acts as a token or advance. It is covered under buyer protection and is completely refundable. This fee makes the seller committed to the deal and the listing gets deactivated on the site. The fourth step involves meeting the seller and reassuring your committed item. In this step, the buyer makes the final value payment to the seller and they sign and exchange documents. And, in the fifth step the seller handovers the key to the buyer.
Selling a vehicle is as simple as buying the vehicle on the platform. The seller starts by creating a listing for their vehicle. This will include filling out the basic facts, the details about the seller, trust factors, housekeeping items and a description of the vehicle. The second step involves the buyer committing himself/herself to the vehicle by paying the commitment fee. Once this is done, the listing is deactivated on the site. The third step involves meeting and realizing the final value payment. In this step, the buyer and seller sign and exchange document and receive final value payment. Droom releases the commitment fee on completion. And, in the fourth step the seller handovers the keys to the buyer.
Droom has a very committed and strong founding team with over 75 years of combined experience in FMCG, Internet, technology and E-commerce. The company is based out of Gurgaon.