ADESA, Inc. Partners with Escrow.com to Provide Inspection Services to Online Vehicle Purchasers

CARMEL, Ind., June 30 -- ADESA, Inc. announced today that one of its subsidiaries, AutoVIN, has partnered with Escrow.com to provide vehicle inspections for potential online purchases of used cars and trucks.

AutoVIN, the Automated Vehicle Information Network, provides professional field information services to the automotive industry. Services include vehicle condition reporting, inventory verification auditing, program compliance auditing and facility inspections.

Escrow.com is the leading provider of online escrow services in the world. The company, founded in 1999 by Fidelity National Financial, has established itself as the pioneer of developing secure business and consumer transaction management systems over the Internet. Escrow.com is the recommended transaction settlement service by many of the most prominent companies involved in eCommerce, including eBay.

Together, the two companies provide assurance to online vehicle purchasers that the vehicle is as described, enabling the purchasers to secure loans, if desired, for their purchase. Customers set up escrow accounts to protect their purchases and AutoVIN provides the inspection services.

Here's how it works: a potential buyer places an order on Escrow.com. Escrow.com then contacts AutoVIN to arrange for an inspection. An AutoVIN representative then contacts the potential seller and schedules the site visit and inspection. After the inspection has been completed, AutoVIN then sends the results back to Escrow.com. Escrow.com displays the inspection results to the potential buyer, who then may continue the transaction or decline. It's that easy.

"We're very excited about this partnership because it enables literally every bank and financing company in North American to make loans to retail consumers safely over the Internet," said AutoVIN President Steve Swanson. "Until now, buying a vehicle, sight unseen, online had an element of risk, not to mention limited or no opportunity to secure a loan for such a transaction. Our inspection services provide Escrow.com customers assurance that their vehicle purchase is sound and provides vital information to any organization wanting to provide a loan for the purchase."

Brandon Abbey, the Managing Director of Escrow.com agrees. "Until now, online vehicle purchasers had few reliable options. They could buy on good faith with cash or they could pay the cost of shipping, sometimes both ways, to inspect a vehicle. If the vehicle turned out to be unacceptable, the potential buyer still incurred the expense. We're excited about being able to provide a secure, proven and professional solution."

Headquartered in Carmel, Indiana, ADESA, Inc. is North America's largest publicly traded provider of wholesale vehicle auctions and used vehicle dealer floorplan financing. The company's operations span North America with 53 ADESA used vehicle auction sites, 30 Impact salvage vehicle auction sites and 83 AFC loan production offices. For further information on ADESA, Inc., visit the company's Web site at http://www.adesainc.com/ .