Chabot Mobility, Toss Payments Launch 'Chabot Pay' for Used Car Financing

The innovative financial payment service 'Chabot Pay', designed to alleviate the inconveniences of used car transactions, has finally been unveiled. Born from a strategic alliance between Chabot Mobility and Toss Payments, this service is expected to evolve the used car purchasing experience to the next level. Chabot Pay is an integrated financial solution exclusively for used cars, linking cards and capital. Utilizing Toss Payments' cutting-edge Link Pay technology, it provides a system that allows customers to easily purchase used cars, much like online shopping. A major advantage is that customers can continue to use their existing credit cards and it's immediately available without complicated registration procedures. It particularly boasts remarkable economic efficiency. When using Samsung Card, the service fee for a 24-month term is set at 9.9%, offering competitiveness similar to general capital loan interest rates of approximately 9.2%. Furthermore, purchasers can freely combine cash and installment payments for their desired amount, allowing for flexible fund management tailored to individual circumstances. This service was developed through the synergy of Toss Payments' robust simple payment infrastructure and Chabot Mobility's extensive dealer network. Chabot Pay offers customers an exceptionally convenient payment environment and provides used car dealers with new payment methods, presenting a bold alternative to the existing cash-centric used car transaction model. It aims to solve the long-standing challenges of high fees and complex payment procedures in the used car market, thereby increasing satisfaction for both customers and dealers. Chabot Pay can be easily accessed through 'Chatimjang,' a sales management app used by used car dealers nationwide. Chatimjang has evolved beyond vehicle listing management, customer consultations, and contract handling, to become a powerful business platform that now processes financial payments in a one-stop manner. Kang Byeong-hee, Vice President of Chabot Mobility, stated that through this collaboration, they will introduce a new financial experience to the used car market and will continue to build a differentiated mobility financial ecosystem through ongoing cooperation with Toss Group companies in the future. Chabot Pay is expected to set new standards for used car purchases and establish itself as a key player in the future mobility financial market.