Buying online is a common occurrence these days, from groceries to small electrical appliances, books and DVDs. A UK based company AutoeBid.com now allows you to buy a car online, and has increased online sales by 99.6 per cent year to date with predictions that one in four cars will be bought online by 2015.
Most people have avoided large online transactions due to security concerns, Auto eBid has a unique transaction process which supports its online security tools. Giving its customers the confidence to buy online and to take advantage of the savings.
The way Auto eBid works is a ‘reverse auction’ system, car dealers are invited to bid for customers business. Dealers compete for each sale which helps give customers the best possible deal, customer details are withheld until the winning dealer is declared, which helps protect the customers’ security.
Dealers using Auto eBid have strict conditions to adhere to, they must have traded for at least three years, sold a minimum of 100 vehicles, have at least three employees and can only take a small deposit by credit card. Payment for the car is made once the buyer has taken delivery and inspected the car and is 100 per cent satisfied with it.
“Cars are a big transaction for anyone, not least those nervous about online security” explains Auto eBid CEO, Amin Saleem. “That is why we go the extra mile to make sure buying a car online is safer even than doing so in person. You can’t get duped by a dealer, you can’t lose any deposit and your details are not passed on or sold to any third party.”
Having good security is important, if the customer doesn’t feel safe they will not use the service. Auto eBid use the internet security firm Thwate who have checked and verified the company to make sure it meets the strongest identity authentication standards.
“We have seen that by addressing people’s security concerns, we can gain where others lose,” says Saleem. “This is the future model for high value transactions that will change the way cars are bought.”
Internet entrepreneur, Amin Saleem, founded Auto eBid in 2003. The website receives over 100,000 visitors a month and has processed 2,500 successful sales saving customers around $12 million compared to the cars RRP.
With a database of 5,000 franchised dealers it has over 3,500 regular auction bidders.