Digital Payments News

PrivateAuto: The First Self-Service Payment App for Private Vehicle Sales

PrivateAuto: The First Self-Service Payment App for Private Vehicle Sales
The easiest way to list, meet, and get paid when selling privately

PrivateAuto is the first self-service, peer-to-peer payment app for private vehicle sales that allows users to verify a driver’s license, eSign the bill of sale, and instantly transfer funds anytime, anyplace.

PrivateAuto’s transactional marketplace is the only one of its kind, incorporating unique listing options, integrated banking features, and automated workflows to provide users with a complete listing to payment solution.

Some of the app’s features include driver license verification with facial recognition technology, a test drive scheduler, accept/reject/counter offer functionality, eSignable bill of sale, and integrated vehicle financing options. Users can even generate unique window-sticker QR codes for their vehicles and advertise without sharing personal contact information.

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In a YouTube video released on April 1, 2022, the CEO of PrivateAuto completed what was once impossible: Using the PrivateAuto app, he purchased a Porsche 911, Carrera, transferring over $100,000 in the parking lot. While most payment apps allow users to transfer up to $5,000, PrivateAuto is the first fintech solution to provide instant and secure payment processing for private party vehicle transactions over $5,000.

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Before PrivateAuto, buyers had to gamble with their safety, carrying thousands of dollars in cash to meet with strangers, and sellers had to worry about whether they would receive payment before releasing their vehicle. Today, those fears are a thing of the past, as buyers and sellers now have access to instant, high-volume transactions through PrivateAuto’s safe, simple, and secure app.

“For decades, the private sale has been a clunky and awkward experience for many people. We are proud to be the first true fintech for the private sale allowing two users to safely transact on their terms and not rely on a third party. Our journey is just beginning as we introduce dealer-like services to the private sale without the added cost or hassle,” said Brad Parker, Founder and CEO of PrivateAuto.

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