Used vehicles, the Leboncoin group secures transactions between individuals
The used vehicle market holds an important place on the Leboncoin platform. Every month one in two French people uses the platform to carry out transactions of all kinds. Thus the site has been developing for two years to move from a generalist site of connection to a multi-specialist e-commerce platform. The offer of used vehicles represents no less than 3 million ads. When it comes to large transactions, security and reliability are required. Leboncoin is therefore counting on strengthening its solutions to secure exchanges between individuals.
Used vehicles, a booming market
In 2021, the used vehicle market clearly marks its growth compared to the new market. Indeed, according to figures from the Argus, in the first quarter of 2021, the number of used vehicle registrations was 1,571,0055. This figure shows an increase of 17.9% compared to the previous year. Compared to the new vehicle market, the used is clearly the most preferred purchase. Since the beginning of the year, it sells 3.5 used cars against 1 new car. Among the preferred vehicles in the second-hand market, it is worth noting the attraction for older used cars. Thus, cars aged between 1 and 5 years show an increase of 92.1% and cars registered more than 5 years ago record an increase of 79.3%.
In order to ensure the sales of used vehicles, the Leboncoin platform plays an important role. Indeed, the category of vehicles on the platform represents 75% of the market share on pro cars in 2019. Every month, more than 11.8 million visitors gather on the category to study the offers. However, the purchase of a vehicle represents a considerable sum. Thus the challenge is to offer a reliable and above all secure way to frame transactions. The Group Leboncoin is therefore extending its security strategy for the automotive market with adapted solutions. The first step was to provide a solution for the secure payment of used vehicles of up to 50,000 euros. However, securing financial transactions is not the only condition for the successful purchase of a used vehicle. Indeed, when you buy a used vehicle, you must also ensure certain fundamental guarantees.
Set up guarantees around the purchase of the vehicle
A used vehicle is a vehicle that has a history. Thus, for buyers, it is important to benefit from a guarantee that will cover any defects related to the age of the vehicle. For this, the group Leboncoin has set up a mechanical breakdown guarantee system in partnership with BNP Paribas Cardif and the subsidiary Icarus. It adapts in particular according to the age and kilometers of the vehicle in question. The warranty then covers mechanical and electronic breakdowns that could occur by following the purchase of the vehicle on the platform via secure payment. At the same time, the warranty is reinforced by troubleshooting assistance.
The platform also partners with Autovia to offer a service that helps guarantee vehicle history. To do this, the solution analyzes the data that appears in the vehicle registration system. This service aims to reassure buyers in their purchase project. Thus, sellers can deposit the registration number of the vehicle when filing the advertisement. This will give buyers a healthy and certified base that guarantees the history of the car.
Thus, following the rapid development of the used vehicle market, Leboncoin makes every effort to facilitate transactions. Buying a used vehicle is now done in a few clicks in the greatest of confidences.
“Used vehicle market: after developing online payment, leboncoin launches the mechanical breakdown guarantee and vehicle history. Enhanced services for serene and secure transactions between individuals.” Leboncoin Group, press release of October 11, 2021 “Used automotive market: all the figures of the 1st quarter of 2021” L’Argus, article of April 9, 2021
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