NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Automotive dealer Car Trackers has acquired Below Invoice Inc, an exotic automotive leasing concierge at the forefront of new and pre-owned vehicle acquisition, for an undisclosed amount.
Founded in 2014 by Cole McKeon, Below Invoice has streamlined the vehicle acquisition process since its inception. Through the integration of advanced technology and savvy marketing practices, Below Invoice’s website has risen to numerous organic first page positions on Google, boasting tens of thousands of website visitors in search for a better exotic car-buying experience.
With a similar vision, seasoned automotive executive Ali Qureshi, Founder and COO of Car Trackers, saw an unmet need in the way consumers locate, negotiate, and sell their pre-owned vehicles.
“For the past 8 years Below Invoice has paved the way for a new car buying experience by providing transparent vehicle pricing directly on their website, and by creating an end-to-end platform to facilitate those experiences,” said Qureshi. “We are excited to leverage the technology and trust that Below Invoice has built over the years, and to further revolutionizing the way car buying is done.”
Car Trackers was recently recognized as Dealer of the Year by the city of Placentia, and received a Manheim award for being the number one non-franchise, non-commercial automotive dealer, purchasing and selling over 200 vehicles per week. Car Trackers, which has doubled its revenue, up from approximately $75,000,000 in 2021 to over $125,000,000 in 2022, is one of the first companies to purchase vehicle trade-ins through Facetime, focusing on convenience over traditional conventions.
The acquisition of Below Invoice provides a much-needed solution to consumers seeking an alternative to the lack of inventory on dealership lots, primarily caused by supply chain issues. Consumers have been forced to pay prices above MSRP due to shipping and production restraints, and Car Trackers aims to change that. Car Trackers further solidified its position as an industry leader and is poised to take on the likes of True Car and Carvana post acquisition.
“With Ali’s impressive track record and his ability to foresee industry trends, I am confident that Below Invoice will be a household name within the next 3 years, and truly usher in the new era of automotive purchasing,” commented McKeon.
About Car Trackers
Founded by Ali Qureshi in 2009, Car Trackers is an award-winning automotive dealer and wholesaler focused on providing tools for consumers, enabling them to sell their pre-owned vehicles and purchase new vehicles fully remote. Led by female CEO Ahkiah Hunter, Car Trackers purchases and sells over 200 vehicles per week and generates over $125,000,000 per year in revenue.
About Below Invoice Inc
Founded in 2014 by Cole McKeon, Below Invoice streamlines the vehicle acquisition process by locating, negotiating, and delivering your dream car. Well-recognized as a pioneer in the car-buying process, and having helped thousands of customers purchase or lease vehicles, Below Invoice’s motto is “Bringing integrity to the car business.”