MotoNovo’s classified service, findandfundmycar.com, has officially launched.

The project was first announced in late 2016, with its go-live date initially expected in 2017. In April, MotoNovo recruited Phil Morgan of GoCompare to head the development of the platform.

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Described by MotoNovo as a site “by dealers, for dealers, to the benefit of customers”, the site offers a finance offer next to every car advertised. Customers can apply for a credit assessment instantly, and also shop around for a better quote from a variety of dealerships.

MotoNovo says the site will not provide any additional revenues for them, with all income instead reinvested in marketing.

Morgan said: “The key to launching a new brand is all about high impact … With every dealer penny spent being reinvested into the new service, findandfundmycar.com can become the alternative online classified service that so many dealers have told us they want.

“The co-operative principle of findandfindmycar.com, where every dealer pays the same amount, where cars are ranked by price, not as sponsored cars with an advertising premium; something we do not believe is good for customer transparency, and where we make no money from the advertising is a ground-breaker; the interest has been huge.

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“Today’s live date will act as a switching point; as dealers see the brand and recognise how it typically creates value and cuts advertising costs, we expect to see a steady growth in consumer activity and dealer support.”

The business launched with 75,000 cars from 1,600 dealers on the site.