George Arison

45 million used cars are going to be sold

in the US this year.

Yeah, it's about $750 billion in used and another $600 billion in new.

So the industry is really, really massive, but it's super fragmented.

So the largest car seller that sells new and used sells about a million cars a year.

Who's that?

AutoNation.

Okay, got it.

So, so like, and then CarMax is a used car only seller, also does about 750,000 used, right?

So,

The largest players have like sub 1% of the market overall between used and new.

So it's a very, very fragmented industry unlike anything else in the U.S.

And really kind of, you know, but in each kind of congressional district, dealerships are oftentimes some of the largest employers and some of the most profitable businesses.

So it's this kind of give and take that there's a lot of political influence, obviously, that comes with it.

So we work with banks to provide financing.

We don't do financing on our own.

So we have almost a dozen banks on the back end, it's called, that are providing financing.

And what we do is we have technology that's unique in the industry, does not exist anywhere else, that allows you to submit your information to us all digitally.

And then we're actually able to pre-qualify you for a loan to understand what kind of loan you will qualify for and give you a sense of what your monthly payment on that loan is going to be, what the interest rate will be, etc.,

And you can kind of change that.