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Droom offers a lot of buying options on the platform which caters to every type of buyer present. Droom has 4 marketplace formats which facilitate the buying and selling transactions harmoniously. Anciliary services also help build trust with the buyer to increase the buying value.
Droom for Dealers
In this format the selling price of the vehicle is ﬁxed and a buyer can't negotiate on it
In this format the buyer and seller can negotiate on the price and agree upon one. A buyer can give maximum 5 best offers to a seller for a listing, and it is the seller's choice to accept or reject an offer. Multiple buyers can give best offer for a vehicle
In this format, a bidding process is used wherein a vehicle is sold to the highest bidder after the reserve price is met. Multiple buyers can simultaneously participate in the bidding process
|Fired Price vs Best Offer vs Droom Auction|| |
|Commitment Fee(Token Amount)||2%-3% Commitment Fee(Token Amount)||2%-3% Commitment Fee(Token Amount)||2%-3% Commitment Fee(Token Amount)|
|No. of Attempts AllowedBefore Seller Accepts||None||5||Unlimited UntilAuction Ends|
|Transactional ClosurePeriod||5 Days||5 Days||5 Days|
|When Commitment Fee(Token Amount) if Charged||When Buyer Commitsto Buy||After Seller Acceptsa Best Offer||When HighestBidder Wins|
|Is Price Negotiable||✖||✔||N/A|
|Who all can Participate||One Seller andOne Register Buyer||One Seller and MultipleRegistered Buyers||One Seller and MultipleRegistered Buyers (Bidders)|
|Which Price is mentioned||Non-negotiable Selling Price is Mentioned||A Selling Price is Mentioned on which Buyer Can Give up to 5 Best Offers||Minimum Bid is Mentioned and Bidder Can Make a Higher Bid|
|Which Buyer Gets Order||First Buyer Who Pays the Commitment Fee (Token Amount)||Best Offer Selected by Seller||Highest Bidder After Reserve Price is Met or Buyer Paying Full "Buy Now" Price|
Token Amount is the 2% - 3% (Depending upon the category) of the final selling price that is paid as advance money by the buyer on Droom’s online platform. Rest 98% - 97% of the final selling price is paid directly to the seller (100% Final selling price = 2% Token Amount + 98% final value payment). It is fully refundable, no questions asked, under Buyer Protection. Once buyer pays the token amount the listing gets deactivated and buyer can meet the seller to test drive and inspect the vehicle before closing the transaction. In case of order cancellation token amount is processed within 5 business days.
To know more click Token Amount by category
Droom provides three kinds of pricing formats “Fixed Price”, “Best Offer”, and “Auctions”. “Fixed Price” allows you to buy at a fixed price while “Best Offer” allows room for negotiation. “Auctions” allows buyers to bid on vehicles, which are subsequently sold to the highest bidder.
Droom provides three kinds of pricing formats “Fixed Price”, “Best Offer”, and “Auction”. Fixed Price is the traditional way to sell something with a fixed price tag. The seller decides a listing price for his listed item and then you will have to make the deal at the fixed price only.
Droom provides three kinds of pricing formats “Fixed Price”, “Best Offer”, and “Auction”. Best Offer is an innovative way to check market sentiments. This gives you as a buyer, an option to make an offer for a listed item. A particular buyer can make up to 5 offers against one listing.
Best Offer is an innovative concept to sell and buy. Under Best Offer, you can make up to 5 offers for a particular item. The Seller has the right to accept or reject any offer made by a buyer without any further clarification.
There is no minimum restriction on the start price to place a best offer. It completely depends on buyer’s understanding of the product and market. A buyer can make up to 5 best offers against a particular listing, beyond which he or she will not be eligible to make any offer against that item.
Droom provides three kinds of pricing formats “Fixed Price”, “Best Offer”, and “Auction”. Auction allows buyers to bid on listed vehicles, wherein the vehicle is sold to the highest bidder. This allows buyers to score unique deals at unique prices. A registered buyer can make unlimited number of bids. As of now, the “auction” option is only available on the droom.in website.
At Droom, when a buyer makes the payment of token amount for a product, the entire fees is covered under our Buyer Protection program. Droom’s Buyer Protection allows buyers to be eligible for full refund of the token amount, no questions asked.
Yes, you can contact the seller using Droom’s app once you commit to buy a particular item. Droom believes in transparency and trust and hence we hide seller’s personal details from the listings but as soon as you pay token amount, all the vital information of the seller will be mailed to you and can be checked in the “My Account” section.
Droom is a technology driven platform and allows user(s) to search for an item via entering “Keyword” as make, model, or the year of the vehicle you are looking for. Users can browse our well-defined and categorized catalogue as per the preference. The Droom app and website also enable users to make further refinement in the results set via a vast selection of filters and sorting.
My account is your personalized section on all Droom's Platforms-Website and Mobile Apps(Android and iOS). Via “My Account” you can check your watchlist, update profile, purchased items details, committed items/seller details, and much more. Additionally, you can control alerts and notification settings from the “My Account” section.
Watchlist is a powerful tool to help you shortlist items. On every item listed on Droom, you will see a “watchlist” icon on top and you can bookmark this item for future reference or comparison with a simple tap. You can browse your watchlist under “My Account” section.
To update your profile, go to My Account > My Profile section. Now you can update all your personal preferences and information.
Transaction Closure Period is the timeframe within which a seller and buyer needs to meet and close the transaction. If transaction does not complete within this period then it will no longer be covered under Droom Seller and Buyer Protection. Typically, this is between 3-5 days.
We recommend buyers meet sellers within the transaction closure period. If you are unable to meet the seller due to the seller's fault then you are completely covered under Droom’s Buyer Protection. In other cases decision is made by our dispute resolution team.
Droom does not put any restrictions in terms of inter-state buying and selling if the buyer and seller have mutually agreed on the deal. However, please note that the buyer and seller need to ensure all the additional paperwork and documentation is in order.
Ideally, you should be ready to close the transaction within the prescribed Transaction Closure Period with the Final Value Payment (Selling Price minus Token Amount) and documents. However, if you are not ready, you can reach out to the seller and explain your situation. It will be on the sole discretion of the seller whether he is ready to wait or not.
Your Token Amount is fully covered and refundable under Buyer Protection. If the deal does not close due to seller's fault, then you can raise the issue within the transaction closure period and our dispute resolution team will initiate a refund of token amount.
We encourage you to satisfy yourself with the item after you pay token amount and before you make the final value payment during your meeting with the seller. We try our best to maintain honesty in terms of seller disclosures and declaration, but we are not responsible for any wrong representation, omission, and concealing of information by sellers.
Usually, it will take longer to buy a car that has an auto loan. The seller will have to produce an NOC (no objection certificate) from the financial institution. In some cases, the NOC can be provided later on by the seller to the buyer but in most cases, the NOC has to be produced before the transaction is closed. We recommend buyers to work with sellers and proactively find out: