eBay Among America's Largest Car Dealers - By Randall E. Rhodes

EBay auction sold over 325,000 used cars last year. That's just a fraction of the estimated 41 million used vehicles sold in the U.S. But, eBay's totals makes it among the largest used car sellers in the country, reports The Wall Street Journal (wsj.com).

eBayers are willing to buy cars that are thousands of miles away, sight unseen. For the most part, they trust what they are purchasing. "Sellers photograph their vehicles in detail because dealers who unload junk through eBay risk having their overall feedback (a permanent rating and comment left by each buyer) reduced by angry customers."

No wonder eBay is doing so well in used cars. If you've ever battled with a used car salesman, the chance to give feedback in front of 60 million other buyers is GREAT.

Here are some useful eBay car buying tips:

Know what you're looking for: Choose a make/model, then hit eBay. Much easier to make daily checks on the market when using a known model in the eBay search field.

Patience: Watch the auctions for awhile before jumping in. Use the "watch this item" feature to track sales and search "completed items" to track final sale prices.

Tools: Always check the feedback on a seller. Make sure the seller is rated as a seller, not a buyer. Read the auction description seveal times (the small print) and don't be afraid to ask for more pictures if needed.

Develope a rapport: It can be calming to develop a friendly business relationship with the seller. You may find the sales terms are more flexible than you thought.

No-reserve auctions: Look for auctions that don't have reserve price set (minimum price the vehicle will be sold for). This price is set by the seller

Buy-it Now Auctions: Careful of the Buy-it Now price set by seller's. It is often as high as the car's retail value.

Have an out: Bid only on auctions where sellers allow you to cancel after you inspect the car if problems are found.

Cash is king: There are banks who cater to the online auction market but its always best get pre-approved or have cash on hand to negotiate the deal.

Have the car inspected: eBay offers inspection services in 50 major metro markets, as well as a free limited warranty for the drive home for many cars.

Use Carfax: The company's online vehicle history report can tell you where the car has been, its accurate mileage and whether it has been damaged in a crash or flood. It is very reasonably priced and is cheap insurance.

Use on-line pricing services: Free services like the TMV (True Market Value) at Edmunds.com give a quick, realistic idea on retail and wholesale values of used cars.

Factor in travel or delivery costs: You have to pick up the vehicle or have it shipped when you win the auction. Include gas, hotels, food, lost work time and plane tickets in the final cost.

Buy round-trip plane tickets: Sometimes a discount round-trip ticket is less expensive than a one-way ticket, and it gives you options if you decide you don't want the car when you see it.

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Randall E. Rhodes is a 7 1/2 year verteran on eBay with over 1500 transactions completed. He has revealed his expert buying tips, tricks and techniques in an online instructional series showing how he buys cars on eBay for incredible prices.

eBay Car Buying Videos

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