Buying a Car Online Saves Shoppers Up to 10 Days, New CarsDirect.com Customer Survey Finds

LOS ANGELES--Jan. 3, 2002-- CarsDirect.com, a leading multi-brand online car buying service, today announced the results of a broad-based customer satisfaction survey indicating significant times savings through the company's efficient online buying process and award winning website.

The majority of those who bought a vehicle online through CarsDirect.com report saving more than four days of sometimes tedious shopping and nearly a fourth of all respondents saved 10 or more days by using CarsDirect.com.

CarsDirect.com administers an online survey to buyers three weeks after they take delivery, examining satisfaction metrics that include price, sales support, whether customers would recommend the service to a friend, and the amount of time saved researching, locating and bypassing negotiations for the desired vehicle. Over 3,000 responses have been tabulated since mid-year.

``Time saved is an important and revealing metric of customer satisfaction,'' said Bob Brisco, CEO, CarsDirect.com. ``Time is money, so in addition to providing buyers with our guaranteed low price on the vehicles they want, we're saving them the most precious commodity of all. Customers recognize CarsDirect.com's value across the full scope of the car-buying process -- not only while doing research or at final negotiation. CarsDirect.com's ability to streamline that process overall makes car buying online convenient, quick and enjoyable.''

Behind the Numbers

Survey respondents cited time savings resulting from the ready availability of specific vehicle pricing, comprehensive vehicle information including configuration options, financing alternatives, and real-time data on loan and lease programs.

Prior to purchasing his vehicle, Marc Faerber of Pleasanton, Calif., wanted to thoroughly compare pricing and specs on several trucks that interested him. ``CarsDirect.com really helped me save time by pricing out different trucks and accessories,'' he said. ``Being able to specify trucks from home and not having to visit dealer after dealer saved me an incredible amount of time. The added confidence I had in what I was doing and paying was tremendous.''

Dan Frost of Mill Valley, Calif., credits CarsDirect.com with not only saving him time but also money. ``My child's school had already spent three weeks trying to locate two identical vans to transport students and faculty,'' said Frost. ``When they asked me to help them, I turned to CarsDirect.com. Working with my CarsDirect.com Vehicle Specialist, I was able to find the two vans within 24 hours, and in the process I saved our school at least $3,000 on each vehicle by using CarsDirect.com.''

Simplifying the Process

CarsDirect.com's comprehensive research center provides tools to help narrow the search for the right vehicle by manufacturer, price range, and vehicle type. Once a vehicle and factory options have been selected, CarsDirect.com displays its signature no-haggle, upfront price for that car, with useful sample monthly loan and lease payments based on typical financing terms. The CarsDirect.com Price Guarantee ensures that customers can obtain the lowest possible price when purchasing a new car or truck.

After the customer has submitted the vehicle order, a highly trained Vehicle Specialist will confirm the availability of the chosen vehicle and arrange a convenient time frame to take delivery of the new vehicle at one of CarsDirect.com's 3,000 priority auto dealerships. At the dealership, the car buyer simply completes and signs the necessary paperwork.

About CarsDirect.com

Los Angeles-based CarsDirect.com (www.carsdirect.com) is the leading multi-brand online car buying service, providing new automobiles and related products and services, such as loan and lease financing and in-demand aftermarket products including extended warranties. As the pioneer of the direct online car buying model, CarsDirect.com offers upfront pricing to consumers, who can research, price, order, purchase, insure and finance a vehicle online via an intuitive Web site that offers product information for nearly every make, model and style of new automobile available in the United States today.

--------------------------------------------------------------------------------