AutoLet is a service that is designed for drivers who desire an affordable, long term, reliable alternative to buying or leasing a vehicle.
AutoLet was designed to specifically address the lack of options currently available to car buyers. AutoLet is cheaper than subscription or rental programs, more affordable than buying and more flexible than leasing.
Like car sharing programs have done for the taxi industry, AutoLet will expand the market for people interested in an affordable daily driver.
AutoLet is poised to shake up and disrupt the automotive retail industry. An easy to remember name that slips off the tongue and memorable and is uniquely positioned to become the name of a unique new market.
In today’s economic environment, affordability, qualifying for credit, vehicle conditions, contracts and large down payments are just a few of the challenges and obstacles that consumers face when looking to purchase a vehicle. In the United States alone, there were approximately 227.5 million licensed drivers in 2019, with that number expected to increase in 2020. This does not account for the millions of Americans who are left without ownership and little alternatives. The traditional car ownership and leasing industry has been stagnant, as no company has disrupted the space to offer alternative, added value options for Americans.
AutoLet is an automotive service designed to provide an affordable, innovative and exclusive alternative to the dated automotive retail options consumers have had to deal with. AutoLet’s unique business model addresses the primary concerns and limitations of the typical car purchaser, taking into consideration the current economic trends and attitudes. AutoLet offers drivers an affordable, long-term, reliable alternative to buying or leasing a vehicle. AutoLet provides affordable maintenance free vehicles to the public on a month to month basis that is an alternative to the high cost of buying an owning a car. AutoLet will build an in house team of professional and licensed mechanics to ensure all AutoLet cars are certified and checked through an extensive safety process, ensuring our customers are using safe and reliable vehicles, every time. AutoLet has identifies a niche unmet market gap in the industry and is poised to capture market share and capitalize on the opportunity presented. The following business plan outlines a five-year strategy of AutoLet and accompanying financial forecasts that it anticipates on achieving.
— George Hill, President of AutoLet LLC
AutoLet will seek to take advantage of trends and growth in the market as a Car Ownership Alternative specifically targeted at individuals and businesses seeking to save money. Our focus is to rescue those trapped into subprime or high interest rates.
Why the change
There has been tremendous growth in the number of vehicles sold across the United States dating back to 2015, with over 58 million vehicles sold in 2019 alone. However, as of 2019, seven million Americans were behind on their auto-payments and with the onset of COVID-19 three million auto loan accounts have fallen in ‘hardship financial status’.