Rodo, a venture-backed, on-demand auto leasing startup announced on Friday that it was exiting beta with new updates to its software. The technology, which was previously known as Honcker, provides a three-step, digital leasing process that’s set to transform the dealer-consumer relationship in the U.S. by changing the way consumers lease vehicles.
“The Honcker brand was about bringing the arduous auto leasing process into the 21st century,” Nathan Hecht, CEO and founder of Rodo said in a recent press release. “The re-brand to Rodo reflects our commitment to consumers to elevate the car leasing experience to one that is worthy of the new car itself.”
The technology calculates real-time, transparent pricing that is personalized to the individual shopper. It also allows consumers to finalize their lease and arrange for free home delivery without ever having to step foot in a dealership.
According to their press release, Rodo’s goal is to provide a simple digital leasing process for more than 150,000 vehicles from all major manufacturers. “Local dealers are a vital part of our platform. We’re focused on making it easier for dealers to grow their own sales while lowering their overhead,” Hect said.
These partnerships are also the reason that all of the vehicles on Rodo are actually available in real-time at the best price. That’s not always the case in the industry, where many players are simply generating leads on vehicles that may or may not be on the lot and pricing remains ambiguous.”
Using natural language processing and machine learning, the technology works by finding all relevant discounts based on the individual consumer and then applying those automatically to the consumer’s monthly payment. The result is clear lease terms that need no further negotiation from the dealer or consumer. “Rodo is about a fast, convenient, and transparent path to a new vehicle, all while ensuring the best possible price,” Hecht said. “This is a giant leap forward for the auto industry to finally bring the transaction online.”
