1b $ idea for free - ZeroInterestCars

Hey Indie Hackers! I wanted to share an exciting new concept called "0 Interest Cars" that aims to transform the car financing landscape.

🏢 How It Works:

The idea is creating a platform to work as a middle man between buyers, car dealerships and banks.

basically dealerships will put their cars on your platform with 15-20% overprice to cover the projected interest rate accumulated through ( 60 months for example )

when someone buys a car, for example its for 50k original price but priced at 60k on the website.
the bank will give a loan to the buyer of 60k, 10k will be held at the bank, 50k by the dealership.
and the buyer will pay the 60k back to the bank.

so the bank got the same amount that they would get if they accumulated interest but without calling it interest.

You will say, if its overpriced no one will buy, I disagree.
people tend to buy more when they have no extra fees.

think in dropshipping, people will buy if a product is 100$ with free shipping more than a product for 80$ and 20$ shipping.

tickets industry as well, people will buy a ticket for 50$ with no extra fees, instead of buying a ticket for 30$ and 20$ extra fees.

so same will be for cars.

now how do we get 1b valuation ?
Let's say you take 2% of the car's value for every transaction happens through your website.

Commission Per Car: Multiply the price of each car by the 2% commission fee.

For example, if the average price of cars sold through your platform is $30,000:
Commission Per Car = $30,000 * 0.02 = $600

Number of Cars to be Sold: Divide the desired revenue ($200 million) by the commission per car to calculate the number of cars that need to be sold.

Number of Cars = $200,000,000 / $600 = 333,333.33

the annual new car sales in the United States have ranged from approximately 16 to 17 million units

Which means you only need 2% of the market share in the US to be a 1b dollar comapny.

Market Share = (333,333 / 16,000,000) * 100 = 2.08%

got this idea when I was in shower and wanted to share it with someone who can turn it to life.

just invite me for a dinner in 10 years.
Thanks