eBay has “signed a definitive agreement” to buy automotive transaction platform provider Caramel to make buying and selling cars at auction “easier than ever.”
Caramel has a website and an app that help individuals and independent dealers sell cars, handling paperwork, title transfer, financing, delivery, insurance, and more. The company also has several partners in markets and auctions.
Although eBay has been hosting used car classifieds and auctions on its site for many years, it is currently up to the dealer to process payments and fill out all the paperwork. Fees such as title fees are also paid through the seller, and things like dealer-installed accessories will have to be negotiated separately.
Last month, e-commerce giant Amazon launched its own “Autos” website where people can buy new cars from dealers (only Hyundai models so far). However, Amazon advertises that you can complete the transaction (including the car exchange) to the end, and you will only have to pick up the car at the dealership.
What the process will look like on eBay is yet to be determined. eBay says that the agreement with Caramel was signed on January 11, and the deal is expected to close in the first quarter of this year.
