This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tips for Selling or Buying a Car Online

While the downturn in the auto market has brought challenges for those trying to get rid of a used car -- particularly fuel-inefficient vehicles -- the Web can broaden the market of buyers, who are finding great bargains online.

Summer months are particularly good for auto deals, as many dealers are trying to get inventory off the lots. (One recent eBay (EBAY - Get Report) listing for an "exceptionally clean" 2004 Toyota (TM - Get Report) 4Runner SUV says the reserve price is "thousands below the current book value" because the vehicle "must sell.")

Auto makers and dealerships are desperate to move cars off the lot, and grasping onto any opportunity to reach a broader audience. Lexus, GM (GM - Get Report) and Chrysler recently teamed up with eBay Motors to launch a digital showroom of certified used vehicles to take advantage of the millions of users trolling the auction site for a new set of wheels.

As eBay CFO Robert Swan noted in a recent conference call, although lower selling prices are hurting eBay's sales volumes, "the good news is, buyers are getting better deals."

There is one passenger vehicle sold every minute, a part or accessory sold every second on eBay, according to The Pocket Idiot's Guide to eBay Motors, providing liquidity and bargains in a tough economic climate. Consumers can take advantage of the opportunities without getting burned, by following a few tips.

BUYERS

1. The closer, the better: While the Web opens up the horizons for sales across state borders and country borders alike, there are added risks the further you wander from home. You won't be able to see the car in person, test drive it, or have a trusted mechanic inspect it for you. While it's common to ship a vehicle cross country, there are also added risks that the item may be damaged in transit. Idiot's Guide warns against using overseas sellers, even if they offer free shipping.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
EBAY $26.69 0.79%
GM $28.96 1.10%
HMC $30.73 1.70%
MGI $8.42 0.72%
TM $117.40 2.70%

Markets

Chart of I:DJI
DOW 16,249.93 +191.58 1.19%
S&P 500 1,934.64 +20.79 1.09%
NASDAQ 4,691.3860 +55.2810 1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs