Today, Performance Five's direct-to-consumer auto lending business only allows a consumer to buy directly from an auto dealer. The VP of your group is interested in exploring whether to provide a financing option for person-to-person auto sales. He has asked you to lead the exploratory work on this project and assess:
· How big of a market is there in peer-to-peer auto lending and who are the leading finance companies?
· What types of consumers will be most interested in this product offering?
· How would you design your solution to person-to-person auto financing?
· What is your marketing plan – who will you target, how will you reach them, how often will you contact them, how much will it cost?
· What is the expected value of this new option?