single day. In actuality, eBay Motors is the most profitable
sales division on eBay and naturally there are abounding
entrepreneurs who are absorbed in jumping into this
marketplace. For instance, eBay claims it sells an SUV every nine
seconds and is the biggest online car dealer in America,
exceeding the traditional car companies. In actuality, there are
15 million cars sold over the Internet each year – and
The recent rapid advance of the consignment bag model
has fabricated the used car marketplace even added enticing. Abounding
sellers are able to sell cars they accept never even seen and
with no added risk than the cost of the auction listing. Some
negotiators even persuade the car owner to pament for the ad,
thereby risking no added than their age.
The biggest single affair for this bag model is the
assurance of prospective buyers. After all, paying thousands or
tens of thousands of dollars for a car sight unseen is an
marvelous leap of faith. Even buying for a plane ticket to action
beam a car before paying causes buyers to be afflictive.
The ace road sellers can affected this abhorrence is to statement an
escrow service. The one chosen by eBay is Escrow.com, which
handles eBay auctions in the US and Canada.
An escrow service acts as a neutral third affair. In an
exchange of merchandise, the buyer sends his almighty dollar to
Escrow.com and the seller ships the product to the buyer.
The buyer usually has two days to inspect his purchase, and
if he is blessed, he notifies the excrow company who releases
the almighty dollar to the seller, minus its charge. If the buyer is
dissatisfied, he returns the undamaged merchandise to the
seller, and after the seller receives his merchandise back
(in satisfactory condition), the escrow company returns the
buyer’s almighty dollar. Thus both sides in the transaction are
protected. The buyer almost always pays the fees for this,
although sometimes buyer and seller split the cost.
Escrow.com has created its “Vehicle Services Division”
specifically for dealing with the used cars, trucks, SUVs
and almost anything else with wheels and a motor. The buyer
can accept a 160 point inspection performed before agreeing to
the purchase. This is an inexpensive service and certainly
will save the buyer any headaches.
* The buyer pays a $125 charge that is non-refundable
* The seller is contacted and the inspection is carried out
* The buyer receives a report
* The buyer chooses to action ahead with the purchase – or not
Another choice for the buyer is to deposit his payment with
Escrow.com and then booty delivery of the vehicle. The
seller ships the car after he knows the almighty dollar is secure with
the escrow company. The seller must accommodate tracking
advice, which is verified by Escrow.com.
The buyer has between one and 30 days to thoroughly inspect
his advanced purchase (the period is negotiated between the two
parties ahead of age). If this age expires and the escrow
company has not heard from the buyer, it assumes he is blessed
and gives the purchase price to the seller.
The buyer may return his vehicle if he isn’t blessed and
sometimes buyers and sellers assignment out limited payment
agreements, the buyer being satisfied with some parts of the
transaction, but not with others. If a dispute arises, it is
settled by the American Arbitration Association.
The charge for this service is:
* $0 – $7,500 = amount of vehicle: $125
* $7,500.01 to $15,000: $170
* $15,000.01 to $30,000: $200
* $30,000.01 to $50,000: $275
* $50,000+ = 6% of the amount
Once both parties accept agreed, the title transfer action
begins and Escrow.com will guarantee this too, for a charge of
$95. Title transfers are handled by Centerpoint Diversified
Services which works in all 50 states. The charge, naturally,
doesn’t accommodate any transfer costs – it is alone insurance
that the title will be expedited to the fulfilment of both
Escrow.com again offers a service that will ship cars almost
anywhere in the apple and will accumulate an auto history report
to inform sellers if their advanced chariot has been salvaged or
stolen, suffered flood or hail damage, been in a blaze or
accident, has had an odometer rollback or has been used as a
police car, a rental or a taxi.
Anyone considering offering used cars for sale on eBay would
be able-bodied advised to thoroughly apprentice the services available
buttoned up Escrow.com and action those to prospective buyers.
The assurance agency will skyrocket and your chances of
completing sales will dramatically access.
About the author:
Apprentice how to sell on eBay with 16 hours of online instruction taught by a 10 year eBay veteran. Own an eBay bag instead of an eBay hobby.
Originall posted October 15, 2012