Autobytel.com Streamlines Direct Sales By Partnering with AutoTradeCenter.com Inc. to Offer Guaranteed Trade-In Pricing
AutobytelDirect to Test Market TradeInCarsOnline.com in Arizona Metros with Plans to Roll Out Nationwide.
Updated
Jul 7, 2004 20:28:09
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Description: Irvine, CA - April 19, 2000 - Autobytel.com (Nasdaq: ABTL) and AutoTradeCenter.com (OTCBB: AUTC) today announced an agreement to begin test marketing TradeInCarsOnline.com, a unique trade-in solution for online car buyers, through the AutobytelDirect system. "Forty percent of new cars sold in America are bought with a trade-in*. This partnership empowers Autobytel.com consumers by offering them a firm bid on their trade-in before they set foot into a dealership," said Mark Lorimer, Autobytel.com's President and CEO. "This not only increases the comfort level with online car buying, but it also streamlines the direct sales process by bringing more of it online." "We are delighted to partner with the industry leader in online vehicle sales," said Roger L. Butterwick, AutoTradeCenter.com's President. "TradeInCarsOnline.com provides consumers with the solution to the trade-in issue, which can often be a frustration when purchasing online. We're eliminating that frustration for AutobytelDirect buyers." Butterwick further noted that consumers receive a sales tax credit for trade-ins in over thirty states. This means car purchasers in these states (including Arizona) only pay sales tax on the amount of their new vehicle minus their trade-in value. The trickiest part of an online car sale is often the trade-in valuation. It's difficult for dealers to estimate the price they are willing to pay for a trade-in without the benefit of a hands-on inspection. Additionally, pricing information for trade-ins is often inconsistent, making it difficult for consumers to feel comfortable with the price offered by the dealer. Piloting in the Phoenix and Tucson areas, the new service will enable AutobytelDirect car buyers to receive a firm bid for the purchase of their trade-in vehicle as part of the purchase of a new vehicle. TradeInCarsOnline.com will provide AutobytelDirect consumers with a condition report, generated by an independent inspection firm, a title report and a firm purchase offer. Consumers are under no obligation to accept the bid from TradeInCarsOnline.com and can use the ndependent evaluation as a benchmark value of their vehicle's current value when purchasing their new vehicle. Consumers who choose to accept the bid from TradeInCarsOnline.com, simply drop-off the trade-in vehicle at the new-car dealer when taking delivery of their new car. TradeInCarsOnline.com will purchase the vehicle from the dealer for the amount of the firm purchase bid. If the dealer wants the trade-in vehicle for his own inventory, he may keep the trade-in by paying a buy fee to TradeInCarsOnline.com. In order to use the service, the trade-in must be a 1992 or newer model year with less than 79,000 miles. Consumers pay a $95 service fee to TradeInCarsOnline.com. *NADA Data 1999 About AutoTradeCenter.com AutoTradeCenter.com is the leading Internet-based "business-to-business" automotive wholesale and re-marketing company. On its web site, , the Company markets its services to its national dealer base, to automotive lease and rental companies, and to banks and financial institutions across the U.S. who can use the site's many features for more efficient buying, selling and trading. The Company also owns the Web site through its subsidiary BusinessTradeCenter.com Inc. TradeinCarsOnline is the first Web site to allow a consumer purchasing a new vehicle online to receive a firm purchase bid on his trade-in vehicle. For more information on AutoTradeCenter.com Inc., please visit
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