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