Snag a car for half price on eBay
If you're looking for a good price on a new car, you'll want to start your search on eBay this week. AutoNation will be selling 29 vehicles for half their retail price on the auction Web site.
AutoNation Direct is the online sales arm of the AutoNation national auto dealership group. Until Friday, the company will post four vehicles on eBay each day on sale for half the MSRP. The vehicles range from budget-friendly commuter cars, such as a 2012 Ford Fusion Hybrid for only $16,385 to halo vehicles, including a the 2012 Chevrolet Camaro. The Camaro normally retails for $25,440, but sold in minutes for $12,720.
Buyers can snag one of these discounted cars by being the first to click the Buy It Now button when a half-priced car goes on sale. They must place a $500 deposit, and pay the balance of the sale price within three days, according to an article on CBS.com. For the grand prize, a 2012 Chevrolet Corvette will go for half price on Friday to one lucky buyer.
The half-priced car promotion kicks off the new relationship between eBay Motors and the auto retailer. AutoNation Direct has been testing selling used vehicles on eBay for the past 90 days, and this will be the first of many promotions to come, said AutoNation Direct Senior Vice President Marc Cannon.
"eBay is a household name," Cannon said. "We have a great relationship with Edmunds and Truecar, and we see eBay as another way to expand our reach as more customers shop online to buy a car."
Although more than 75 percent of the automotive retailer's customers use the Internet prior to buying a car, true online buying of vehicles is still limited, says Cannon. About 5 percent of car buyers conduct as much of the car-buying transaction as they can online, but still come into the dealership to complete paperwork and pick up the vehicle. But that could be changing.
eBay doesn't release vehicle sales numbers but reports that more than 4.48 million passenger vehicles have been sold using its platform. AutoNation has 215 dealerships in the U.S., but declined to share Internet sales statistics. The discounted vehicle promotion may get a few new people used to the idea of buying a car online, but it will certainly reinforce the concept that you really can find anything on eBay, including a 2012 Chevrolet Corvette for half price.