Monday, July 10, 2006

Used Cars For Sale On eBay

by Sydney Johnston

There are thousands of used cars for sale on eBay every single day. In fact, eBay Motors is the most profitable sales division on eBay and naturally there are many entrepreneurs who are interested in jumping into this market. For instance, eBay claims it sells an SUV every nine seconds and is the biggest online car dealer in America, exceeding the traditional car companies. In fact, there are 15 million cars sold over the Internet each year - and growing. The recent rapid growth of the consignment business model has made the used car market even more enticing.

Many sellers are able to sell cars they have never even seen and with no more risk than the cost of the auction listing. Some negotiators even persuade the car owner to pay for the ad, thereby risking no more than their time. The biggest single issue for this business model is the trust of prospective buyers. After all, paying thousands or tens of thousands of dollars for a car sight unseen is an awesome leap of faith. Even buying for a plane ticket to go see a car before paying causes buyers to be uncomfortable.

The best way sellers can overcome this fear is to use an escrow service. The one chosen by eBay is Escrow.com, which handles eBay auctions in the US and Canada. An escrow service acts as a neutral third party. In an exchange of merchandise, the buyer sends his money to Escrow.com and the seller ships the product to the buyer. The buyer usually has two days to inspect his purchase, and if he is happy, he notifies the excrow company who releases the money to the seller, minus its fee.

If the buyer is dissatisfied, he returns the undamaged merchandise to the seller, and after the seller receives his merchandise back (in satisfactory condition), the escrow company returns the buyer's money. Thus both sides in the transaction are protected. The buyer almost always pays the fees for this, although sometimes buyer and seller split the cost. Escrow.com has created its "Vehicle Services Division" specifically for dealing with the used cars, trucks, SUVs and almost anything else with wheels and a motor. The buyer can have a 160 point inspection performed before agreeing to the purchase.

This is an inexpensive service and certainly will save the buyer any headaches.

* The buyer pays a $125 fee that is non-refundable
* The seller is contacted and the inspection is carried out
* The buyer receives a report
* The buyer chooses to go ahead with the purchase - or not

Another choice for the buyer is to deposit his payment with Escrow.com and then take delivery of the vehicle. The seller ships the car after he knows the money is secure with the escrow company. The seller must provide tracking information, which is verified by Escrow.com. The buyer has between one and 30 days to thoroughly inspect his new purchase (the period is negotiated between the two parties ahead of time). If this time expires and the escrow company has not heard from the buyer, it assumes he is happy and gives the purchase price to the seller.

The buyer may return his vehicle if he isn't happy and sometimes buyers and sellers work out partial payment agreements, the buyer being satisfied with some parts of the transaction, but not with others. If a dispute arises, it is settled by the American Arbitration Association. The fee for this service is:

* $0 - $7,500 = value of vehicle: $125
* $7,500.01 to $15,000: $170
* $15,000.01 to $30,000: $200
* $30,000.01 to $50,000: $275
* $50,000+ = 6% of the value

Once both parties have agreed, the title transfer process begins and Escrow.com will guarantee this too, for a fee of $95. Title transfers are handled by Centerpoint Diversified Services which works in all 50 states. The fee, naturally, doesn't include any transfer costs - it is only insurance that the title will be expedited to the satisfaction of both parties.

Escrow.com also offers a service that will ship cars almost anywhere in the world and will gather an auto history report to inform sellers if their new chariot has been salvaged or stolen, suffered flood or hail damage, been in a fire or accident, has had an odometer rollback or has been used as a police car, a rental or a taxi. Anyone considering offering used cars for sale on eBay would be well advised to thoroughly learn the services available through Escrow
om and offer those to prospective buyers. The trust factor will skyrocket and your chances of completing sales will dramatically increase..

Used Cars

Buying Used Cars For Sale Just Got Easier

by Anonymous
Smart consumers understand that a car's value depreciates the most during the first few years of ownership, making low-mileage used vehicles the best values. It has now become easier to search for used cars online. InternetAutoGuide.com, which has been serving the online automotive community since 1999, announced a special section for those interested in selling and buying used cars for sale online. This recently launched car classifieds section has attributed to a 500% increase in website traffic and user reach since its introduction.Used car shoppers on InternetAutoGuide.com now have access to more than 500,000 used cars for sale, searchable in a number of formats for the user to choose from. All listings of used cars for sale are updated daily with information from partners, including premium car dealers, private party advertisers, and additional partner websites to provide car shoppers with the most up-to date inventory selection.

Since 1999 the person-to-person sale of used cars have risen 20%, while used car sales by new car dealerships have declined. Research indicates that key factors in the large increase of person-to-person used car sales are the explosion of Internet usage for car research; better quality used cars, and the increased availability of financing for private sales. The Internet has been an enormous tool for consumers to shop cars from around the country and find the car that best suits their needs. The combination of online car classifieds and quality car transporting companies are allowing consumers to buy cars from farther distances, across the country, and even from international locations.Through innovative merchandising products such as multiple photos and full search functionality, InternetAutoGuide.com is taking used car sales online to a level unparalleled in today's market, uniting thousands of car buyers and sellers. InternetAutoGuide.com continues to improve the way people research, locate, and buy used cars for sale online.About InternetAutoGuide.comhttp://www.internetautoguide.com http://www.internetautoguide.com/usedcars/ InternetAutoGuide.com, created in 1999 and headquartered in Irinve, Ca., is one of the premier used car websites on the Internet.

What differentiates InternetAutoGuide.com from the rest of the automotive market, and makes this used cars site the choice for millions of Internet users is its complete coverage of each car shopper's needs and wants. In addition to used car shopping, InternetAutoGuide.com allows users to research every aspect of the vehicle of their choice, including car reviews, pricing, rebates & incentives, auto recalls, car photos, crash tests, and more..

Where to Buy Cheap Used Cars at Bargain Prices!

by C.L. Spartalis
One of the most important things you can do to purchase a cheap used car at bargain prices is to do your homework. You should check your local classified ads and see what the asking price is for the type of vehicle that you are in the market for. Make sure to get the high and low Blue Book Price on the vehicle that you are interested in. Here are some excellent sources for getting pricing: NADA GUIDES www.nadaguides.comKELLEY BLUE BOOK www.kbb.comEDMUNDS www.edmunds.comOther resources to check with is CARFAX. They can supply you with the vehicle history report.

The National Highway Traffic Safety Administration has a research area to check recall history on cars. We recommend that you have the vehicle you are interested in purchasing be inspected by your own mechanic prior to purchase. Newspaper Classified Ads are a excellent place to find cheap used cars at well below retail prices. Many times, people take their cars to dealers for trade ins and are offered below wholesale prices. Many of these people will be happy to several hundreds more that what was quoted by the dealer and you will end up with an EXCELLENT BUY! Online Auctions can be a great place to find cheap used cars.

You can shop right from the comfort of your own home. Look for auctions with no reserve, these auctions don't have a minimum price before they will sell. Public Car Auctions are open to the general public and do not require you to have a Dealer's License. Public auctions can be an excellent place to purchase cheap used cars at wholesale prices. Some of these auctions are: Auction Repossessions of Credit Unions, Banks & Lending Institutions.

Some public auctions also auction Police and Local Municipalities, City, State, & County vehicles. Estate and Bankruptcy Auctions can be a very good place to purchase cheap used cars at wholesale prices. These auctions are usually advertised in newspaper classified section Or handled by Probate Estate Auctioneers. Government Auctions are an excellent source for cheap used vehicles. They include vehicles from DEA drug raid seizures, FBI, IRS, U.S.

Customs Auctions, Department of Defense, General Services Auctions, Resolution Trust Corporation, Department of Housing and Urban Development, and U.S. Postal Services. Rental Car Companies often sell their fleets of cars by auction. They can be a great source of cheap used cars. Contact these large companies and inquire.

Dealer Auctions can be one of the best sources to cheap used cars at below wholesale prices. Most of these auctions require that you have a dealer's license. These auctions include lease cars, trade-ins, rentals, and fleet vehicles..

Buying New vs. Used Cars

by Mantius Cazaubon

New vs used. Which car is right for you? Consider the following.Owning a brand new car is exciting. But financially speaking, it makes more sense to buy a used car. As soon as you drive a new car off the lot, it loses a great portion of its value. This is because your car is no longer "new".

New cars lose about 40% of their value within 3 years, then depreciation starts to slow down. Why not buy a used car and allow someone else to take that depreciation hit? The previous owner will have absorbed the steepest part of the depreciation cycle. At that point the costs of owning and operating the car will be reduced. The money you save on depreciation will surely go a long way.Another benefit of buying used is lower cost. By buying used you pay less.

You will also save on financing costs, insurance premiums, registration and licensing fees. You don't have to worry about paying sales tax.As with everything else there are a few downsides to buying a used car. There are greater chances for costly unwarranted repairs. You may very soon have to do major maintenance on your car, including replacing tires, battery, brakes, muffler, and perhaps even the transmission.A used car is usually less reliable. You don't know exactly what you're getting into and how the previous owner treated the car.

However, every situation is different and some used models may actually be far more reliable than some new ones.If you can pay cash, go the new car way. Enjoy the feeling of knowing you're the original owner of a new car in mint condition. Nothing can replace that feeling. Otherwise do not hang your hat higher than you can reach. Practice financial prudence.

Save your money and comfort yourself knowing that one day you will be able to afford that dream car. One day when money is no object..