eBay and AutoTrader.com’s Recently Launched Co-Branded Automobile Site To Feature Services From Saturn, escrow.com, E-LOAN, Dependable Auto Shippers And Hagerty

eBay® (Nasdaq: EBAY www.ebay.com), the world’s leading person-to-person online trading community, is teaming up with Saturn and its retailers to provide a nationwide automobile inspection service. The new inspection service, to be developed and offered by Saturn, is slated to be part of eBay and AutoTrader.com’s recently launched co-branded automobile site, which can be accessed through eBay or www.ebay-autotrader.com. eBay and Saturn plan to implement a program that offers most used vehicle sellers on the eBay and AutoTrader.com co-branded site the opportunity to purchase a comprehensive inspection that millions of potential buyers can view online.

(Photo: www.newscom.com/cgi-bin/prnh/19990816/SFM035 www.newscom.com/cgi-bin/prnh/19990423/EBAYLOGO )
The eBay and AutoTrader.com co-branded site already includes services designed to deliver car buyer “peace-of-mind” and ease the online transaction process through integrated escrow, finance, insurance options and shipping services — from escrow.com, E-LOAN, Dependable Auto Shippers (DAS) and Hagerty Classic Insurance.

The site is expected to include the following features, some available today with others planned to be added in the near future:

  • A proposed new feature for the site is expert vehicle inspection services from participating Saturn retailers nationwide — so that buyers will be able to purchase a vehicle online with even more confidence. Under the program being developed, participating Saturn retailers will inspect used vehicles from most makers and deliver the award-winning customer service the company pioneered in the automobile market.
  • Escrow services and transaction management from escrow.com, allowing buyers to view and inspect their purchased automobile before providing payment. With this feature, currently available on the site, buyers can deposit their payment for a vehicle in a secure trust account and, if the buyer is satisfied with the vehicle, they can authorize the release of funds to the seller.
  • Competitive financing options from E-LOAN. Providing quotes from five leading national lenders, E-LOAN’s financing options allow buyers to quickly and easily get a loan to purchase a used car, offering some of the lowest rates in the industry and online approvals. E-LOAN provides financing for buyers who purchase cars from individuals and car dealerships. Now up and running on the site, this is the first time auto financing has been offered as part of person-to-person transactions at eBay.
  • Safe, secure and prompt shipping services are currently available from DAS, bringing even more cars within the reach of buyers. Since 1954, DAS has been providing affordable vehicle relocation services throughout America and abroad. A leader in the privately owned vehicle relocation market, the company has recently invested over $22 million in a state-of-the-art, satellite tracked fleet of transports. DAS delivers affordable shipping for nearly every type of vehicle and, through its association with specialty carrier Passport, also provides shipping for high-end, exotic and antique cars — helping eBay buyers bring the car of their dreams within easy reach.
  • Affordable collector car insurance from Hagerty Classic Insurance. Specializing in classic car insurance for antique and vintage autos, modified and custom cars, and exotic automobiles, Hagerty provides comprehensive coverage at low rates. Available today, classic car buyers on the site can save hundreds of dollars on their insurance by working with a company that understands how classic cars are driven, housed and maintained.
  • New automobile search features, including search by make, model, year and location — all delivered in a striking, fun, easy-to-use web page that navigates the car buyers and sellers through the online auction format.
  • “We are constantly striving to enhance transaction safety and convenience on our co-branded site with AutoTrader.com, and are excited about adding Saturn and our other great service providers as part of this effort,” said Simon Rothman, vice president and general manager for eBay’s automobile business. “eBay is popularizing the online auction format for everything automotive, giving anyone looking for a used vehicle new levels of control over what they pay and sellers access to eBay’s vibrant community of active buyers.”

    eBay launched a dedicated automobile area — for collector cars, general used cars, spare parts, and automobilia — on its site in August 1999, following a groundswell of auto listings from its community members and the company’s purchase of Kruse International, the world’s largest collector car auction house. Since then, eBay’s automobile category has grown exponentially and now accounts for over 25 percent of the value of the merchandise listed on the site. In March 2000 the company announced a long-term alliance with AutoTrader.com, to create the Internet’s largest auction-style marketplace to buy and sell used cars.

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    About eBay

    eBay (www.ebay.com), the world’s personal trading community(TM), pioneered person-to-person online trading. Founded in 1995, eBay has developed an efficient and entertaining trading site on the Web that is available 24 hours a day, seven days a week. eBay has more than 12 million registered users. More than 600,000 items are added daily in more than 4,300 categories, including: antiques; automotive; books, movies and music; coins and stamps; collectibles; computers; dolls and figures; jewelry and gemstones; photos and electronics; pottery and glass; sports memorabilia; and toys.

    About AutoTrader.com

    AutoTrader.com (www.autotrader.com), the world’s largest used car marketplace, fundamentally improves the way people buy and sell cars by providing a comprehensive source of credible information and a selection of more than 1.5 million used vehicles for sale. AutoTrader.com is the exclusive online distributor of the automotive listings contained in the Auto Trader® and AutoMart® print magazines published by Trader Publishing Company. These magazines are distributed in more than 136,000 retail outlets with an estimated weekly circulation of 2.5 million copies. AutoTrader.com is also the exclusive online distributor of used car listings data collected by Manheim Auctions, Inc. and the Dealer Services Group of Automatic Data Processing, Inc. AutoTrader.com’s investors include Cox Enterprises, Inc., Manheim Auctions, Inc., Landmark Communications, Inc., the Dealer Services Group of Automatic Data Processing, Inc., and Kleiner Perkins Caufield & Byers.

    About Saturn Corporation

    Saturn Corporation entered the automotive market in 1990, bringing a new level of customer service to automotive retailing. Saturn’s first products — the compact SL sedan, SW wagon and SC coupe — featured innovations such as space-frame construction and dent resistant polymer body panels. Saturn recently introduced the world’s first and only three-door coupe, followed in 1999 by a new line of mid-size cars, the L-Series. Saturn was created through a unique partnership between General Motors and the UAW. Saturn and its retailers, represented by over 425 facilities, share a strong focus on customer service, a focus that is an integral part of Saturn’s e-commerce initiatives.