Detroit-based Rocket Auto, a digital automotive retail marketplace and part of Rocket Companies (NYSE: RKT), today introduced RocketAuto.com – a website with a primary focus on providing a simple and transparent car buying experience.
“Buying a car is one of the largest purchases anyone makes in their life, but the process can be intimidating and overwhelming. Rocket Auto is reimagining this experience by building a marketplace with massive inventory and tools specifically engineered to make it stress free,” said Victor You, CEO of Rocket Auto. “We have used Rocket Companies’ decades of experience bringing simplicity to the mortgage space through Rocket Mortgage and married it with our learnings from years supporting sales for Vroom, to demystify the car-buying experience and help our clients select the right car and get on the road quickly.”
The Rocket Auto marketplace currently hosts more than 35,000 used cars, trucks and SUVs from over 300 dealers nationwide. Additional inventory partners are expected to join the marketplace through the remainder of 2021, boosting choice and vehicle availability. Rocket Companies’ mission is centered around always putting the client first and ensuring simplicity and certainty are core to every transaction. Rocket Auto applied this same philosophy to its tech-enabled process for vehicle purchases.
Rocket Auto’s marketplace format gives buyers the ability to view various makes and models, at every price point, from an incredibly diverse network of dealers. In the coming months, it will also be the only marketplace to provide buyers the ability to self-service, handling the entire process from beginning to end regardless of what dealer the vehicle comes from.
The Rocket Auto platform is the perfect way for dealers to connect with buyers. Dealers have the opportunity to display their inventory in front of the 14 million+ Americans who have a relationship with Rocket Mortgage, Rocket Homes or Rocket Loans. Plus, clients are three times more likely to buy a car after a mortgage inquiry, and 50% more likely to purchase a vehicle after refinancing – as reported by Transunion research. Most importantly, Rocket Auto assists clients, even those just in the consideration phase, so dealers have structured deals not just leads.
Rocket Auto expects to add new car sales and leasing to its used car inventory in 2022.
