Autotrader.com Vehicle Purchase Program Aims to Streamline Consumer Sale, Trade In of Used Autos
ATLANTA, Nov. 11 /PRNewswire/ — AutoTrader.com’s Vehicle Purchase Program (VPP), currently in a 90-day test in Kansas City, is a convenient on-line service that aims to streamline the process of trading in or selling an automobile with participating dealers.
This on-line service allows sellers to get an actual offer for their vehicle rather than an estimate or range of potential values.
Here’s how it works.— An auto seller accesses a proprietary on-line pricing engine on AutoTrader.com or directly at vpp.autotrader.com. The seller inputs information about their vehicle, including the make and model, the model year, major factory-installed options, other upgrades and maintenance information, color and details about the condition, including any major repairs or accident damage.
— The site will calculate a price and produce a printable purchase offer.
— The seller can take that purchase offer to a participating dealer in the Kansas City area. The dealer will inspect the car to confirm that it matches the description provided by the seller and then write the seller a check for that amount.
— On receipt of the check from the dealer, the seller can choose to put that money toward the purchase of a car on that dealer’s lot or leave the dealership with the check and use it for anything they wish.
“AutoTrader.com is always looking for ways to make the buying and selling of cars easier for visitors to our site,” said Scott Whiteside, vice president of private seller advertising at AutoTrader.com and head of this project.
The data in the pricing engine and the resulting price calculated are based on thousands of automotive transactions. The pricing data is updated constantly to account for the changes in prices for vehicle based on supply and demand for those vehicles.
In Kansas City, AutoTrader.com has 12 auto dealers signed on to participate in this test. Kansas City was chosen as the test market because the area’s economy, population and automobile landscape were representative of the entire nation.
“At the end of this 90-day test in Kansas City, we’ll contact car sellers who used this service and the dealers who participated in the service to see how satisfied they are with it,” said Whiteside. “This will help determine our national roll-out plans.”
AutoTrader.com, created in 1997 and headquartered in Atlanta, Ga., is the Internet’s leading auto classifieds marketplace and consumer information website. AutoTrader.com aggregates in a single location about 4 million new, used and certified pre-owned vehicle listings from 40,000 dealers and 250,000 private owners and the site attracts about 14 million unique monthly visitors.
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