CarJockey.com Receives Funding, Building Nationwide Dealer Vehicle Exchange

OWENSBORO, Ky., Jan. 16, 2006 -- CarJockey.com has received funding from Private Capital Advisors, a Nashville, TN based investment company, and is building a nationwide wholesale dealer-to-dealer pre-owned vehicle exchange for automobile dealers. This exchange virtually eliminates the added maintenance required to post vehicles on most other online vehicle exchanges. Buyers and sellers pay no setup fees, no monthly fees, and no listing fees.

"We wanted to make this a winner for everyone," said John Moore, President of CarJockey.com. "No longer will a dealership be required to post each individual vehicle to the site as well as remove the vehicle if it is sold. Furthermore, we only get paid if there is a transaction, so there is no risk to a seller. Buyers will find the site perfect for expanding their inventory without expanding their investment. This database of vehicles should grow fast. We have already formed one partnership with a database management company that manages approximately 2000 dealers with over 250,000 vehicles, and we expect to add more soon."

The focus of the website will be efficiency, utilizing the dealers' current data management systems, CarJockey.com will post vehicles that have exceeded the dealer's desired days in inventory. Buyers searching for inventory will simply login, search and make offers any time day or night. The unique hybrid bidding system allows buyers and sellers to post their offers without disclosing it to the other party, and then a counter offer is presented to both parties. The whole transaction can be completed in a matter of minutes.

Initially CarJockey.com will market to new vehicle dealers only. Commitments have already been received to post inventory and utilize the system from some of the largest new car dealers in Kentucky and Tennessee. "The dealer response has been fantastic," said Joe Turner, VP of Sales. "I have been involved with other successful Internet businesses in the past, but none where users understand the value so quickly. We plan to have reps responsible for each market to ensure we provide personal service along with the website." Dealers are able to pre sign-up for the service at www.carjockey.com.

CarJockey.com, founded in 1998, is a privately held company based in Owensboro, Kentucky.

CarJockey.com also plans to be in Orlando, FL for the National Automobile Dealers Association convention Feb 11 -14.

More information: http://www.carjockey.com/