Car Trackers founder: 'We are excited to leverage the technology and trust that Below Invoice has built'

Car Trackers acquired an exotic automotive leasing concierge company last month. 

According to Car Trackers, the automotive dealer's purchase of Below Invoice will provide a solution for buyers looking for a wider range of selection in inventory than previously offered on dealership lots. A lack of inventory has forced customers to pay prices above MSRP because of shipping and production costs, in addition to supply-chain issues. As the first automotive dealer and wholesaler to offer consumers the ability to sell or purchase vehicles fully remote, the company aims to use the technology gained by purchasing Below Invoice to provide a solution.

"For the past eight years, Below Invoice has paved the way for a new car buying experience by providing transparent vehicle pricing directly on their website, and by creating an end-to-end platform to facilitate those experiences,” Founder and COO of Car Trackers Ali Qureshi said, according to a news release. “We are excited to leverage the technology and trust that Below Invoice has built over the years, and to further revolutionize the way car buying is done.”

The news release reports that Car Trackers has doubled its revenue from 2021 to 2022, going from $75 million to more than $125 million, and buys or sells more than 200 vehicles weekly.

Below Invoice Inc., an exotic automotive leasing concierge, was founded in 2014 by Cole McKeon, according to the news release. Below Invoice is notorious for its advanced technology and "savvy marketing practices," allowing it to naturally be positioned on first-page searches of Google with the promise of "a better exotic car-buying experience."

"With Ali’s impressive track record and his ability to foresee industry trends, I am confident that Below Invoice will be a household name within the next three years, and truly usher in the new era of automotive purchasing,” Below Invoice Founder Cole McKeon said, according to the news release. 

The acquisition by Car Trackers, originally founded in 2009, was finalized for an undisclosed amount, the news release said. Car Trackers recently received a Manheim award for being the No. 1 non-franchise, non-commercial automotive dealer in addition to being recognized by the city of Placentia as Dealer of the Year.