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Everyone told us we were the future of car buying. Turns out the future needed better margins than we had.
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We wanted to make buying a used car as easy as buying something on Amazon. No dealership. No haggling. Just click and it shows up at your door.
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The used car market is a $700 billion industry built entirely on mistrust. We thought transparency alone would be enough to win. We were wrong about the economics.
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We were spending $2,400 to acquire each customer. You can't sell a used Honda Civic at those unit economics and survive.
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We had the product. We had the demand. We just didn't have a business model that worked. That's a different kind of failure — the most frustrating kind.