Real estate site ForSaleByOwner.com is rolling out CarsForSaleByOwner.com, an online auto marketplace aimed at connecting car buyers and sellers.
The site builds on ForSaleByOwner's formula of cutting out the middleman in real estate, and in that way helps consumers reduce the transaction costs associated with buying and selling big-ticket items.
The site will provide listings for new and used cars, trucks and motorcycles, and offer access to vehicle history reports. Consumers will be able to search for vehicles by location, price, make, model and year. Shoppers also will get free access to auto values, insurance, financing and warranty-company rates.
“Cars are a natural extension of our core business,” said Colby Sambrotto, COO of the New York company, in a statement. He added that the site planned to expand into other “big-ticket” categories during the year.
Online car sales are a growing area. According to a CNW Marketing research survey, 30% of the 42.6 million used cars that changed hands in the United States in 2003 were bought using the Internet.
ForSaleByOwner.com saw its traffic grow by nearly 100% in 2003. The company, which is starting a national advertising and marketing campaign, also increased revenue more than 150% in the last year.
