Editorial Note: Comparewise is supported by our readers. When you find products and services through links on our site, we may earn commission.

Dealerhop is a Canadian car financing marketplace that connects users with a network of lenders and dealers, offering a streamlined approach to vehicle purchases, financing, and sales.

While not a direct lender or dealership itself, Dealerhop acts as a facilitator, matching customers with suitable vehicles and financing options tailored to their needs.

Dealerhop features

Among the outstanding features offered by Dealerhop are the online car auctioning services provided within a 48-hour period. This free service allows you to advertise your vehicle for sale through an auction from the comfort of your home. And it involves a very simple process.

First, you enter your car information and pictures. After approval, your vehicle is open for bidding for a precise 48 hours. The auction is given to the highest bidder and you are paid once you have delivered the car.

A major strength of Dealerhop is the broad range of buyers where automobiles can be resold and the availability of credit facilities. This network consists of independent auto dealers, new auto dealers, auto groups and wholesale/auto brokers.

Regarding financing, Dealerhop provides car financing pre-approval to the buyers and invites third-party financing companies or car dealers to fund the deal. Minimum loan amounts are $5,000, making it possible for all classes of car purchases as per the ability of the borrower.

Another valuable service provided by Dealerhop is the loan pre-approval. This means that it enables you as a potential buyer to know about available financing modes before you make any purchase.

Furthermore, this service is especially helpful for buyers with subprime credit, as Dealerhop operates with subprime lenders who consider credit history.

The platform also provides debt consolidation and loan refinancing products for consumers who wish to avail themselves of them. These options may enable the customers to save or rebate their monthly installments or modify an existing auto loan interest rates for their benefit.

For dealers, Dealerhop provides a tiered verification system with three levels: For this reason, there are Verified, Verified+, and Verified². All tiers build on one another, providing higher degrees of customer verification and documentation collections for dealers to work with better qualified leads.

For example, the Verified² level involves driver’s license and proof of income verification.

Another outstanding feature of Dealerhop is a CRM system designed for car dealers. Some of the features it provides are; customer note taking, task management which has a drag-able link, consumer applications, real-time lead routing.

The platform also features white label applications for the dealers. Dealers can create their own leads using Dealerhop’s application forms. These forms can be customized to display the logo of the dealers at $299 per month after the 30 days trial period.

Dealerhop has adopted several security features to enhance the protection of information provided by users. They employ two-factor identification to avoid fraudulent applications whereby every applicant is asked to verify his or her phone number, using a four-digit code.

Furthermore, they also employ the Twilio Verify API to verify users via SMS or phone call, which further minimizes fraudulent activities.

The platform’s transparency, for instance, is also reflected in its bidding structure for dealers. Dealers can see the bid process of all the cars available for resale and the highest bid placed for each car.

They only incur a $99 fee each time they make a winning bid, which makes the mode relatively cheap when it comes to acquiring inventory.

Dealerhop also fills the two-wheel market with products that include e-bikes, scooters, and motorcycles. This diversification capability enables them to offer something more than mere automotive transport services.

The platform is easy to use and this is reflected in its vehicle information capture system. They have a simple but effective ‘capture and inspection’ app that enables car owners to perform a 360-degree check on their car.

Or, pictures can be captured with a camera and then submitted through a desktop, allowing users to input information in any manner they desire.

And for the car buyers, the company provides the delivery of automobiles to their doorsteps through Dealerhop. When the purchase is made, the vehicle is shipped straight to the buyer’s doorstep with delivery possible across Canada if the service is provided.

Dealerhop services

• Online Car Financing
• Vehicle Purchasing
• Vehicle Selling/Auction