Hint for Buying Your Next Car: Use Some Mojo

NEW YORK (TheStreet) -- Are you one of those car shoppers who buys a new car every few years or simply leases a car because shopping for a used car makes your brain burst and steam shoot out your ears?

Well, here's a quick test for you, visit Cars.com or AutoTrader.com and when your head stops spinning from the clutter, bursting banner ads and pop-ups, try a visit to the more sedate and simple to use MojoMotors.com

Absorb the simplicity. Notice the limited options you have. No pop-ups, no banner ads. Just simplicity.

Want to search for a Cadillac CTS within 75 miles? Go for it. That's about as complicated as it gets. Please, I urge you to try it out after you read this article.

This simplicity is exactly what Paul Nadjarian, founder and CEO of Mojo Motors, was going for. When I talked to him earlier this week, he told me that the "key to Mojo is simplicity." 

Nadjarian is a born and bred Michigan boy, so it's no surprise that he got his start at Ford (F). After working in marketing and sales, he drove over to a job at eBay Motors (EBAY), before eventually leaving to start his own company.

That's when Mojo Motors was born.

Mojo is a great innovation for the user experience because Paul & Co. finally found a way to help both prospective used car buyers and the dealerships who use the platform. Yes, there's that word again: simplicity.

Dealerships basically pay a fee each month to have their inventory listed on the site. The results are pretty solid. 

See, this isn't just another way for dealers to get cars in front of prospective buyers. It's actually an efficient way for them to do so. 

On average, a used car dealer takes 50 days to sell any given car. If you were a car dealer and I told you that for a monthly rate, I could reduce your time of sale by 10 days, or 20%, would you be interested?

Of course you would!

But Mojo didn't focus on making this a sweet ride for the dealers. Or for advertisers. Or for anyone but the customer.

In my 45 minute chat with Nadjarian, I probably heard, "Our sole interest is making a great experience for the customer," at least a dozen times. That's awesome.

The site is extremely easy to navigate. You just search and find what vehicle(s) you're looking for. After you take ten seconds to create a free account, you can "Follow" any vehicle that you like. 

The great thing about "Following" these cars is that you have the option to receive a daily email alert, (so not a barrage of 74 messages), notifying you which dealerships within your given distance lowered the price of the specific vehicle you're following.

According to Nadjarian, used car prices drop every 5 to 15 days, on average, since dealers take into account that cars are depreciating assets for them too.

Another nice feature on the site is that you can see the price history for a specific car. So if the dealer has lowered the price once or twice or 10 times, you'll see each reduction.

In all of the cars that I checked out, I found a CarFax report. However, when I asked Nadjarian about this (because I thought it was standard), he told me that it's up to the dealership to have a subscription with CarFax in order to provide those reports through Mojo Motors. 

However, he added that about 60% to 70% or more of these dealers are indeed subscribers.

The biggest difference maker? Customer psychology.

After following any given car for several weeks, many customers know what the given market price is for the certain ride they're watching.

Sort of like if you follow the stock market for several weeks or months, you get a pretty general idea about what the market is willing to pay for a given security, say Ford or Toyota Motors (TM), on any given day. 

This gives the investor confidence when buying stock, by knowing the general price levels that shares are usually at. This works for buyers of physical cars too.

When you see a five year old Cadillac CTS -- made by General Motors (GM) -- with 40,000 miles dropping down to around $15,000, you get the general notion that this is towards the bottom of the range.   

This gives many prospective buyers confidence when they march (not walk) into the dealership, ready to pick up the keys for their new whip. 

Nadjarian refers to this as, "shopping like an expert." Hell, he would know, after more than two decades in the business. 

The bottom line is this: When companies put the customer first, instead of focusing solely on the money, they're usually the ones who come out on top. Mojo Motors is a perfect example of this model.

Currently, they're working to expand their coverage throughout the U.S., but already have a presence in the Northeast, Southeast, Mid-Atlantic and Midwest, as well as several large cities in the other areas. 

Keep an eye out for these guys and don't be surprised if Mojo Motors becomes a household name in the not-so-distant future.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

-- Written by Bret Kenwell in Petoskey, Mich.

At the time of publication the author is long F.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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