The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

Priceline.com Launches Enhanced Car Buying Service With Range Of Information And Shopping Features

    NORWALK, Conn.--Oct. 3, 2002--Priceline.com(R) today announced the launch of a new, enhanced car buying service on the Internet that integrates dynamic pricing, manufacturer rebates, safety ratings and other information with three easy ways for car shoppers to land the car or truck of their dreams at a price that works for them.
    The new priceline.com service covers all popular makes and models.
    "We believe priceline.com is the most buyer-friendly way to research and purchase a vehicle," said priceline.com Vice President Paul Hennessy. "Priceline.com is the place to visit, whether you're just starting to shop and want some information, or if you've decided on a car and want priceline.com to help you get a great deal. Either way, our mission is to save you time and hassles, and make your car-shopping experience an enjoyable one."

    Key features in the new priceline.com auto service include:

- Three easy ways to buy. For the first time, priceline.com now offers its customers three ways to purchase a new or used vehicle. Customers now can name their own price for a new vehicle and then have priceline.com's Personal Car Shoppers contact local dealerships to try to find their car at the price they want. They can ask to receive a low, no-haggle/no-hassle new or used vehicle price quote from one of Autobytel's thousands of member dealers (see related release). Or they can browse Autobytel's online classified listings of used vehicles. Customers who use priceline.com's Name Your Own Price option typically receive a response to their offer within one business day. Customers who prefer to submit a Purchase Request to one of Autobytel's Internet dealers also typically receive a quote within one business day.
- Research information. Now, consumers can come to priceline.com to research their car or truck before purchase. They can request the exact model, color and options they want, then see the manufacturer's suggested retail price (MSRP), the dealer invoice price (what the dealership pays for the vehicle) and exclusive priceline.com suggestions on what that car is likely to sell for in their part of the country. Customers also can check out rebates and other incentives being offered by different manufacturers. And they can review vehicle ratings and crash test results through priceline.com's link to the National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety.
- Online financing and insurance. Priceline.com customers also can find competitive auto financing and insurance options available on the Web site.
- Reasonable service fees. If a customer buys a car with the help of a Priceline Personal Auto Shopper, priceline.com charges a flat $50 fee for the shopper's services. The fee is the same regardless of the amount of searching work the customer requests (customers can instruct shoppers to search dealerships in one or multiple counties). There is no charge for receiving a quote from an Autobytel-affiliated dealership.

    About Priceline.com

    Priceline.com offers products for sale in four categories: a travel service that offers leisure airline tickets, hotel rooms, rental cars, vacation packages and cruises; a personal finance service that offers home mortgages, refinancing and home equity loans through an independent licensee; an automotive service that offers new cars; and a telecommunications service that offers long distance calling services. Priceline.com also owns the Internet domain names and trademarks of LowestFare.com, another Web-based travel site. Priceline.com licenses its business model to independent licensees, including pricelinemortgage and certain international licensees.

    Information About Forward-Looking Statements

    This press release may contain forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict; therefore, actual results may differ materially from those expressed, implied or forecasted in any such forward-looking statements. Expressions of future goals and similar expressions including, without limitation, "may," "will," "should," "could," "expects," "does not currently expect," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "targets," or "continue," reflecting something other than historical fact are intended to identify forward-looking statements. The following factors, among others, could cause the Company's actual results to differ materially from those described in the forward-looking statements: adverse changes in general market conditions for leisure and other travel products as the result of, among other things, terrorist attacks or hostilities; adverse changes in the Company's relationships with airlines and other product and service providers including, without limitation, the withdrawal of suppliers from the priceline.com system; the effects of increased competition; systems-related failures and/or security breaches; the Company's ability to protect its intellectual property rights; losses by the Company and its licensees; final adjustments made in closing the quarter; legal and regulatory risks and the ability to attract and retain qualified personnel. For a detailed discussion of these and other factors that could cause the Company's actual results to differ materially from those described in the forward-looking statements, please refer to the Company's most recent Form 10-Q, Form 10-K and Form 8-K filings with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.