OneLot provides used car dealerships with collateralized short-term loans and a digital Dealership Management System that includes inventory management and marketing tools. This enables dealers to quickly acquire inventory and streamline operations, addressing the challenges of cash flow and operational efficiency in the used car market.
Funding
$4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Used car dealerships often face challenges in securing short-term financing to acquire inventory, limiting their ability to capitalize on market opportunities. Traditional lenders may have lengthy approval processes or require extensive documentation, hindering dealers' agility in a fast-paced market.
Solution
OneLot provides collateralized short-term loans specifically tailored for used car dealerships, enabling them to quickly acquire inventory and increase sales. Their digital Dealership Management System (DMS) streamlines operations with inventory management, marketing tools, and market insights. Dealers can access financing up to 70% of the vehicle purchase price with flexible repayment schedules. The DMS helps dealers track inventory, promote cars across multiple platforms, and gain insights into market pricing and volume.
Target Audience
The primary target audience is used car dealerships operating in Greater Metro Manila that have been in business for more than one year.
Features
- Collateralized short-term loans with interest rates starting at 1.8% per month, calculated daily
- Financing up to 70% of the vehicle purchase price
- Loan terms up to 90 days with flexible repayment options
- Digital Dealership Management System (DMS) for streamlined operations
- Inventory management tools to track car details and sales
- Marketing tools to promote cars on Facebook Marketplace, Groups, Pages, and Instagram
- Market insights (coming soon) on pricing and volume data from various sources