الحدث ـ أحمد بن عبدالقادر
Selling used cars in Saudi Arabia just got incredibly fast and simple with the launch of the new online auto selling marketplace Kayishha, which allows people to sell any make, model or year car in any condition within 30 minutes at fair market value.
Kayishha provides access to the largest online network of automotive dealers across the country and the region to enable sellers to get used cars viewed by thousands of credible pre-qualified dealers through just one appointment at no cost.
Appointments start with a free inspection by Kayishha certified auto experts before each car goes into a live online auction. The inspections and auctions can take place either at a Kayishha location or at the seller’s home. At the end of the live auction, if the seller is satisfied with the offered market price, Kayishha handles all necessary paperwork and details while the seller is guaranteed to receive funds via electronic bank transfer within 24 hours. If the sellers don’t want to sell, they can walk away with no obligation and zero costs.
“Selling your used car in traditional ways can be a hugely time consuming and painful process. Either you are placing classified ads on websites or you are driving all over the city to different dealers to haggle back and forth in hopes of getting a satisfying result,” said Saygin Yalcin, Founder and CEO of Dubai- based SellAnyCar.com, parent company of Kayishha.
“At Kayishha, we are redefining the process of buying and selling used cars. By taking the pain points out of the system for both the seller and buyer, we have effectively leveled the playing field so both parties get what they most want and need. Buyers, as dealers, can get a daily list of available cars to keep their lots well stocked. At the same time, the sellers get a simple, stress-free and transparent way to immediately get fair market value for their cars. Everybody wins.”
Kayishha aims to repeat the success of its Dubai-based parent company by building an online used car selling platform that addresses pain points when selling directly through classified advertising or to dealers.
Kayishha is entering the Saudi market supported by the recent $35 million investment from Sanabil Investments, a unit of the Saudi Arabia Public Investment Fund, which has recently invested in a number of high-growth technology and e-commerce platforms as part of advancing the national economic diversification strategy.
“We see tremendous growth potential for Kayishha in Saudi. Kayishha is a first-mover pioneering what is a rapidly emerging e-commerce sector that brings a new form of value and growth potential to the strategically important national automotive economy,” said Saygin Yalcin. “Kayishha is making a long- term commitment to invest in infrastructure, people and technology that will forever change how used cars are bought and sold here.”
As part of that local commitment, Kayishha is investing heavily in job creation through an expansion plan that calls for hiring more than 300 people across the country over the next 18-24 months. At launch, the company will have locations in high-traffic and easy to access shopping malls and retail centers in
Riyadh, Jeddah and Dammam with a rapid expansion plan designed to bring a physical Kayishha presence to cities across the country.
Within one year, Kayishha will be present in more than 100 Saudi locations. In addition, the company is building its corporate headquarters and customer service center in Riyadh. While Kayishha will employ both Saudi nationals and expatriates, the company will emphasize the hiring of local citizens, particularly in the customer service center which will be staffed entirely by Saudi nationals.
“We built a proven model with SellAnyCar.com that we are absolutely confident will bring great value to both used car sellers and buyers across the country. At the same time, with Kayishha we are committed to building a distinctively Saudi company that invests locally, hires locally, respects and embraces Saudi culture, and contributes to the economic and social development pillars of Vision 2030,” Saygin Yalcin said.
Kayishha sells any car in any condition without requiring advance repairs, including cars with outstanding bank financing, within 30 minutes through the largest network of qualified auto dealers in the region. Through advanced data analytics, the website has a documented ability to instantly assess the fair market value of any car with 92% accuracy.
Prior to the development of online car buying marketplaces, the available options for selling a used car were not only limited, they were massively time consuming and costly. Through classified advertising, either in print or online, sellers have to pay for and manage ads as well as manage the selling process directly with no guarantee of success.
Another option is direct sales to dealers. This requires sellers to drive from dealer to dealer with no transparency in the buying process or guarantee to get the best possible price and a satisfying result. Even when they do find a dealer willing to make an offer, there is the high stress negotiation and haggling.
Kayishha offers a different experience with an option to book an appointment at any of its locations, or at home, to get a free inspection. After the sale of any used car, Kayishha service professionals take care of all necessary paperwork, title transfer and purchase agreements, delivering proceeds from the sale direct to customer accounts via online wire transfer within 24 hours.