Short answer: Anthony Monteiro says sellers get an instant offer certificate with a link to an inspection that poses them around the car for 14 exterior and four interior photos, then computer vision looks for scratches, dings and seat tears.
Watch this answer from Episode 25 (starts at 10:06) · Episode 25 notes and transcript
From Episode 25: Car Dealers Are Losing Inventory — AI Is the Only Fix, starting at 10:06.
Anthony Monteiro [10:05]: Yeah. Like, if you got your CarMax price and Carvana price, you had no humans involved in that process. You answered some questions, maybe a little bit more than, a quick one, but they showed you what the price is that they're they're going to pay you subject to, like you said, an inspection. What we did what's what's pretty cool is if your dealer was a customer of ours, you would've went on the website and filled out the form, the questions. Right? And it would've instantly given you a certificate with your offer. And then in that certificate with your offer, there's a link to launch an inspection. So while you're on your phone, it says, hey. Go stand in front of your car, and it, like, depositing a check. Says, stand in the front. Click. Go to the driver's side. Click. And it poses the user or the seller around the car, takes 14 pictures of the exterior, four of the interior, so we capture the dashboard, so we see the odometer. And then computer vision AI zooms in, and it looks for dense scratches, dings, tears in the seats.
Anthony Monteiro [11:12]: So all of these things, it does an analysis. So now the consumer is more engaged. Right? I know that you took ten minutes out of your day to go do that, but as a buyer, I have all that information. I don't have to wait for you to come in and do this inspection because the next thing that dealer's gonna say is, hey, Sam, when can you get down here? That's gonna be your next move. Right? You're gonna go, well, I don't know, man. I'm kinda busy, and you're thirty minutes away, and by the time you Carvana's gonna go, I'm gonna put the money in your checking account. My car and truck will be there on Thursday at 03:00 to pick it up. Which one of you can go?
