Automated Car Leasing App Rolls Ahead

With an eight-state footprint and a new $23M investment poised to support market expansion, the startup Honcker claims it is the first 100% automated car leasing app. Honcker’s goal is to enable consumers to shop for car leases, see their actual monthly payments calculated online in real time, complete a lease transaction in a few swipes, and have their car delivered the next day.

This transforms the car leasing process for both consumers and car dealers. Some facts:

• Fully 35% of cars are now leased compared to just 17% a few years ago, creating the need for a faster and simpler leasing process.
• For consumers, Honcker eliminates the need to physically go to car dealerships to fill out leasing applications and wait while employees compute their monthly payments, helps drive competitive pricing of the transparency of the process, and shrinks the lease completion process from several days to three swipes on a mobile app.
• For car dealers, Honcker produces incremental business without any burden on the sales staff, provides a channel for connecting with new customers, and allows up-to-the-minute monitoring and price adjustments through a dashboard.
• Honcker has just raised $23 million in Series A funding from IAC (InteraActiveCorp), the media and marketplace conglomerate that owns over 150 brands across 100 countries including Angie’s List, Tinder, Daily Beast and Vimeo.

Category: General Update, News