| Every single day there are tens of thousands | | | | item and the escrow company returns the |
| of cars for sale on eBay which makes the eBay | | | | buyer's money. |
| motors division the most profitable | | | | |
| department within eBay. There millions of | | | | The online vehicle sales business has become |
| cars sold online every year and eBay is | | | | so large that has even opened a division that |
| getting a big portion of it. | | | | only deals with vehicle sales. They even |
| | | | offer an inspection service which at this |
| There is large numbers of people making a | | | | time is $125, not too bad for the piece of |
| living just taking cars on consignment and | | | | mind it affords. |
| placing them on eBay. Some of these people | | | | |
| have never even seen the car they are | | | | Through the buyer can also deposit his |
| selling! This is a great business, usually | | | | payment with them and negotiate a period of |
| the only risk is your auction fee and some | | | | up to 30 days to have the vehicle completely |
| shrewd consigners even get the car owners to | | | | looked over. This time period must be agreed |
| pay for that. | | | | upon by both parties before the transaction |
| | | | is consummated. If the buyer doesn't contact |
| As with most other online businesses, the | | | | the Escrow Company by the end of the agreed |
| biggest issue to deal with is gaining the | | | | upon period then it is assumed the |
| trust of potential buyers. This can be a | | | | transaction is valid and the money is |
| little difficult for someone just starting to | | | | distributed to the seller. |
| do business on eBay. But, you can hardly | | | | |
| blame the buyers who are spending thousands | | | | Another value added service that has been |
| of dollars on a vehicle they have never | | | | implemented recently is worldwide shipping. |
| physically seen.eBay in their infinite wisdom | | | | will ship vehicles almost anywhere in the |
| has set up escrow services to help alleviate | | | | world, well except for Cuba. LOL. They will |
| these fears. This definitely seems to help | | | | also get a vehicle history report like CarFax |
| when the buyer knows that the money is going | | | | that tells the history of the vehicle and |
| to be kept by a third party until the | | | | whether it has ever had major damage, been |
| transaction is completed smoothly. The escrow | | | | stolen, or even if it has been a vehicle for |
| service of choice is The way thee system | | | | hire. |
| works is the buyer gets two days to inspect | | | | |
| the vehicle, if everything is okay he | | | | With all the positives offered here it would |
| notifies the escrow company and they release | | | | be wise to utilize the aforementioned company |
| the funds to the selling party. If the | | | | for any vehicle transactions online. |
| transaction goes south, the buyer returns the | | | | |