| There are thousands of used cars for sale on eBay | | | | the |
| every | | | | purchaser many headaches.* The buyer pays a $125 |
| single day. In fact, eBay Motors is the most | | | | fee that is non-refundable |
| profitable | | | | * The seller is contacted and the inspection is carried |
| sales division on eBay and naturally there are many | | | | outv |
| entrepreneurs who are interested in jumping into this | | | | * The buyer receives a reportv |
| market. For instance, eBay claims it sells an SUV | | | | * The buyer chooses to go ahead with the |
| every nine | | | | purchase - or notAnother choice for the buyer is to |
| seconds and is the biggest online car dealer in | | | | deposit his payment with |
| America, | | | | the escrow service and then take delivery of the |
| exceeding the traditional car companies. In fact, | | | | vehicle. |
| there are | | | | The seller ships the car after he knows the money |
| 15 million cars sold over the Internet each year - and | | | | his |
| growing.The recent rapid growth of the consignment | | | | secure. The seller must provide tracking information, |
| business model | | | | which |
| has made the used car market even more enticing. | | | | is then verified.The buyer has between one and 30 |
| Many | | | | days to thoroughly inspect |
| sellers are able to sell cars they have never even | | | | his new purchase (the period is negotiated between |
| seen and | | | | the two |
| with no more risk than the cost of the auction listing. | | | | parties ahead of time). If this time expires and the |
| Some | | | | escrow |
| negotiators even persuade the car owner to pay | | | | company has not heard from the buyer, it assumes |
| for the ad, | | | | he is happy |
| thereby risking no more than their time.The biggest | | | | and gives the purchase price to the seller.The buyer |
| single issue for this business model is the | | | | may return his vehicle if he isn't happy and |
| trust of prospective buyers. After all, paying | | | | sometimes buyers and sellers work out partial |
| thousands or | | | | payment |
| tens of thousands of dollars for a car sight unseen is | | | | agreements, the buyer being satisfied with some |
| an | | | | parts of the |
| awesome leap of faith. Even buying for a plane | | | | transaction, but not with others. If a dispute arises, |
| ticket to go | | | | it is |
| see a car before paying causes buyers to be | | | | settled by the American Arbitration Association.The |
| uncomfortable.The best way sellers can overcome | | | | fee for this service is:* $0 - $7,500 = value of vehicle: |
| this fear is to use an | | | | $125 |
| escrow service. eBay has a preferred service, and | | | | * $7,500.01 to $15,000: $170 |
| it's | | | | * $15,000.01 to $30,000: $200 |
| easiest to use that one.An escrow service acts as a | | | | * $30,000.01 to $50,000: $275 |
| neutral third party. In an | | | | * $50,000+ = 6% of the valueOnce both parties |
| exchange of merchandise, the buyer sends his | | | | have agreed, the title transfer process |
| money to the | | | | begins and the escrow service will guarantee this |
| escrow service and the seller ships the product to | | | | too, for a |
| the | | | | fee of $95. The fee, naturally, doesn't include any |
| buyer. The buyer usually has two days to inspect his | | | | transfer |
| purchase, and if he is happy, he notifies the escrow | | | | costs - it is only insurance that the title will be |
| company | | | | expedited to the satisfaction of both parties.eBay's |
| who releases the money to the seller, minus its fee. | | | | escrow service also offers a service that will ship |
| If the | | | | cars almost anywhere in the world and will gather an |
| buyer is dissatisfied, he returns the undamaged | | | | auto |
| merchandise | | | | history report to inform sellers if their new chariot |
| to the seller, and after the seller receives his | | | | has |
| merchandise | | | | been salvaged or stolen, suffered flood or hail |
| back (in satisfactory condition), the escrow service | | | | damage, been |
| returns | | | | in a fire or accident, has had an odometer rollback or |
| the buyer's money. Thus both sides in the | | | | has |
| transaction are | | | | been used as a police car, a rental or a taxi.Anyone |
| protected. The buyer almost always pays the fees | | | | considering offering used cars for sale on eBay would |
| for this, | | | | be well advised to thoroughly learn the escrow |
| although sometimes buyer and seller split the | | | | services |
| cost.eBay's offers a "Vehicle Services Division" | | | | available and offer those to prospective buyers. The |
| specifically for | | | | trust |
| dealing with the used cars, trucks, SUVs and almost | | | | factor will skyrocket and your chances of |
| anything | | | | completing sales |
| else with wheels and a motor. The buyer can | | | | will dramatically increase.Learn how to sell on eBay |
| request a 160 | | | | with 16 hours of online instruction taught by a 10 |
| point inspection performed before agreeing to the | | | | year eBay veteran. Own an eBay business instead of |
| purchase. | | | | an eBay hobby. |
| This is an inexpensive service and certainly will save | | | | |