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Capital One Auto Navigator

Auto Navigator: Disrupting Automobile Shopping for the Sake of the Buyer

The Drawback

Do you bear in mind how a lot time you spent within the dealership once you purchased your final automotive? Did you stroll out, keys in hand, feeling absolutely assured in your buy?

In the case of large life selections, 50% of individuals report researching and shopping for a automotive is extra time consuming than deciding the place to go to school and selecting a child identify, in response to a latest survey commissioned by Capital One. As well as, 62% of automotive consumers should not absolutely assured they obtained an incredible deal the final time they purchased a automotive. So as to add to that, 78% of People admit the final time they purchased a automotive, they misplaced confidence that they might get the automotive they needed through the buying course of.

We requested ourselves why one thing as thrilling as shopping for a brand new automotive must be fraught with this a lot nervousness. What we realized as we dug deeper into the car-shopping course of, is that some persons are left discouraged, realizing the funds are (a lot) greater than they anticipated as a result of the full price of possession is bigger than the worth of the automotive. However oftentimes they don’t know this at the start of the buying course of, once they set their hearts on a specific automotive. Then what? Is it again to the drafting board? Do they begin over, or accept one thing outdoors of their funds?

The Resolution

These buyer ache factors proved to be an issue that we needed to unravel for, so, in 2015, Capital One launched the primary model of Auto Navigator, a cloud-based net utility constructed on a micro companies structure and powered by a set of applied sciences, together with machine studying.

This growth simplified the automotive buying course of for purchasers — permitting them to search out, finance and fulfill their subsequent automotive buy with ease, comfort and confidence.

With our second iteration, launched only a yr later in 2016, clients might browse greater than three million automobiles from over 12,000 collaborating sellers throughout the nation! We leveraged real-time knowledge, which allowed us to find out how a lot clients would pay for any of the automobiles in our database for any of the mixtures they select (e.g., money down, phrases, and so forth.). Extra importantly, clients might now pre-qualify for financing with no influence to their credit score rating earlier than ever stepping right into a dealership.

Since inception, we now have iterated on Auto Navigator, implementing human-centered design the place we use empathy listening, remark methods and fast prototyping with clients to be able to repeatedly construct, fail ahead and quick and enhance our buyer expertise.

What’s Subsequent on this Disruptive Journey?

We’re on this enterprise to problem the marketplace for the sake of the client. At SXSW, we’re previewing the newest evolution of Auto Navigator within the type of a brand new performance:

  • Augmented Actuality Characteristic: We have now realized that automotive analysis is a continuing course of that clients are engaged in, even when they don’t seem to be actively trying to purchase a automotive. Within the coming months, we plan to supply an augmented actuality expertise to our clients by way of the Capital One Cell app, permitting them to scan automobiles by way of their cellphones to view individualized data associated to every automotive. This might embody data resembling their pre-qualified financing, their estimated month-to-month cost, close by dealerships the place they may purchase the automotive, and far more. Think about clients having the ability to get entry to one of these individualized data on the level of want, real-time!
Capital One Auto Navigator

The Tech Behind It

Upon launch, the Augmented Actuality function will leverage Apple’s recently-announced augmented actuality framework (ARKit) and their new cell machine studying framework (CoreML) in addition to Capital One proprietary fashions to establish and worth automobiles. The function can be appropriate with Android, utilizing ARCore and Tensorflow cell.

ARKit allows us to detect surfaces and planes and create a 3D scene that we will then use to position our AR property, whereas CoreML permits us to take photographs from the video stream and move them by way of our Convolutional Neural Community to get predictions in regards to the car. We’ve optimized the expertise so clients can scan a number of automobiles in a session, and get extra details about a automotive they’ve already scanned (even after scanning a number of). We then make the most of Capital One’s proprietary fashions to customise the provide to allow them to see their estimated month-to-month cost.

Empowering individuals to really feel assured about their relationship with their cash is on the coronary heart of what we’re doing, and with Auto Navigator, we’ve discovered a method to do that whereas offering an final digital expertise that matches extra naturally into individuals’s lives.

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