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

NORWALK, Conn.--Oct. 3, 2002--Priceline.com® 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.