Auto Recycling World learned about Peddle, a Texas-based business offering instant online offers and free collection for end-of-life vehicles (ELVs). Since relocating to Austin in 2011 and rebranding, Peddle now buys 30,000 to 40,000 vehicles monthly, leveraging a vast network of buyers, towing services, and partnerships within the automotive industry.
The idea for Peddle’s business started back in 2004 and debuted as Junk my Car. The concept came from CEO and Founder Tim Yarosh, who was working at his father’s salvage yard in Seymour, Connecticut. He wanted to create a website that offered free ELV removal for people needing to get rid of their cars, which was generally unheard of at the time, and he used Google Ads to target people within the yards’ local range.
It worked, and the business began to grow, expanding statewide and eventually nationwide. It brought other salvage yards into its network to service those new areas. Those yards were considered buyers and paid Junk my Car for each car pickup referral.
In time, more competition began moving into the space, and some services began buying ELVs rather than just removing them. With this, Junk my Car began buying vehicles as well, but was the first to develop a way to provide an instant offer for the car seller right on the website or over the phone based on just a few questions.
In 2011, the company moved from Connecticut to Austin, TX, to be closer to the fast-growing new tech community there and to improve talent acquisition opportunities. With the move, the company rebranded to Peddle to open up its opportunities in car buying. And so, it was not only associated with “junk cars” but still focused on the mid-low end of the car-selling market.
Peddle will celebrate its 20th anniversary in August 2024 and currently buys 30,000 – 40,000 vehicles nationwide every month.
Besides Peddle’s goal of making selling a car easy and user-friendly, they also work with many different types of businesses within the automotive industry.
Peddle leverages a nationwide network of hundreds of licensed buyers made up of salvage yards and auto recyclers. Buyers can tailor their purchases by setting up flexible campaigns and bids using options such as year range, makes, models, locations, and conditions. Peddle uses this bid data to calculate an offer for sellers in real time who are looking to sell their cars. If a seller accepts a buyer’s offer, Peddle connects the buyer and seller to complete the purchase.
Peddle has established a unique network of towing service providers they refer to as pickup partners or carriers, who play a crucial role in both the scheduling and car selling process, streamlining the entire experience for sellers. With the flexibility of having its own transportation network, Peddle is able to offer scheduling options, and in some cases same-day, for sellers in certain locations at the very moment they accept their offer, a first for the industry. These carriers also inspect and transport seller vehicles to their destination, usually to an auto auction where Peddle will proceed to sell the vehicle. By combining both inspection and transportation in one, Peddle is able to reduce the chances of significant impacts on the sale of the vehicles, such as extended vehicle damage or title problems.
There are also charitable organizations that work with Peddle to monetize car donations that donors make to support their favorite charities. Those vehicles are processed like any other seller’s vehicle, but instead of the offer going to the car owner, it goes to the charity to support the donor’s chosen cause.
Lastly, Peddle works with businesses known as publishers. By joining Peddle’s publisher program, publishers can supplement their existing automotive business or help create a new revenue stream by referring sellers looking to sell their cars. For each successful transaction through this referral system, the publisher earns a commission. These partnerships allow Peddle to tap into a wider network of potential sellers beyond its own marketing efforts, while publishers can generate additional income by leveraging their existing customer base.
To learn more about Peddle, visit www.peddle.com
