Meet the car vending machine that accepts contactless payments

No dealership, no salesman and no haggling: it's the Auto Trader car vending machine.

The company's first car vending machine is now operational in in London, England, and it will let potential buyers use their phones to buy the car.

The company underscored the ability to bypass haggling with the vending machine that uses contactless technology to pay for the car with just one's phone.

As for where the cars come from, they're still from dealerships, but Auto Trader prenegotiates the price and then plops them in the vending machine.

For example, the first vending machine houses a Renault Zoe with a pre-agreed price of £16,000, or about $19,000 at current exchange rates.

When it's time to buy and finalize the deal, there's a custom point-of-sale system and a unique mechanical door to unleash the car when finished.

What a time to be alive.