PRESS RELEASE
Auto-By-Tel Announces Certification and Warranty Program
3 February 1997
Auto-By-Tel's Used Car CyberStore is Only Internet Service to Protect Consumers by Offering Certified, Warrantied Used Vehicles
A Stringent Certification Process Empowers Consumers with Ability to Search
Nationwide Collection of High-Quality Used Vehicles.
ATLANTA, Feb. 3 -- Continuing its mission to revolutionize
the way cars are bought and sold, Auto-By-Tel previewed its Used Car
CyberStore at the National Automobile Dealer Association (NADA) Convention
today. The Internet's premiere automotive purchasing program's rigorous
certification process makes the Auto-By-Tel Used Car CyberStore the safest and
most efficient way to purchase a used vehicle on the Internet.
Unlike most Internet-based used car listing services, the Used Car
CyberStore is not a collection of classified ads that have been reproduced on
the Web. Instead, the Auto-By-Tel Used Car CyberStore will only stock used
vehicles that have been put through a rigorous 135 point dealer Certification
Program designed to protect consumers. Auto-By-Tel's confidence in the
vehicles stocked in the Used Car CyberStore is backed with a 72-Hour 100%
Money-Back Return Policy(1) and a 3 Month/3,000 Mile Home-and-Away Warranty(2)
from its Accredited CyberStore Dealers.
"Auto-By-Tel has created a completely new model for buying and selling new
and used cars," said Peter Ellis, Auto-By-Tel's President and CEO. "We are
not using new technology to sell cars the old way, instead we're using the
Internet and other technologies to literally change the way cars are bought,
sold, leased, financed and insured all at low costs."
Using Auto-By-Tel's sophisticated CyberStore Search function, consumers
will be able to find and purchase high-quality used cars by searching any or
all of the following criteria: geographical area, make, model, price, class,
and year of vehicle.
Consumers Tired of Traditional Car Buying
The success of Auto-By-Tel's New Car Purchasing Program has clearly
established that consumers are seeking a safe and inviting environment to
purchase cars and trucks. Consumers are fed-up with the aggravation and
headaches that the traditional car buying process entails and are turning to
Auto-By-Tel's innovative purchasing alternative by the hundreds of thousands.
Since Auto-By-Tel's inception in March 1995, the Company has processed over
450,000 Purchase Requests for new vehicles. According to the NADA, the used
car market is now nearly three times that of the new car market.
Delivering Customer Satisfaction
Ellis conducted an independent study which indicated consumers have five
major concerns when it comes to used car purchasing: professional and
courteous service, a safe purchasing environment, vehicle safety, warranty and
price. Auto-By-Tel's Used Car CyberStore delivers all this and more. The
CyberStore's sophisticated searching capabilities means users simply input
their zip code, determine a geographical search and input general or very
specific criteria to find their dream car. A list of matched vehicles is
generated and, because every vehicle in the CyberStore is represented with a
digital photo, users will be able to immediately view the vehicle as it
appears on the Auto-By-Tel Accredited Dealer's lot. If the car meets the
consumer's needs, a Purchase Request can be submitted for a no-haggle, no-
hassle purchase.
The process is far easier than rummaging through listing after listing of
electronic or printed classified ads and with Auto-By-Tel's dedication to
customer satisfaction behind every used vehicle in stock, consumers will be
confident of the quality of the used vehicle they buy.
Used Car Financing and Leasing through ABTAC
Auto-By-Tel's financing and leasing division, ABTAC (Auto-By-Tel
Acceptance Corporation), will enable consumers to lease and finance used
vehicles through highly regarded financial institutions, including Chase
Manhattan Bank and GE Capital Auto Lease.
After a Purchase/Lease Request is submitted to Auto-By-Tel, consumers may
apply for lowcost financing or leasing online. The application process is
simple and secure (using top-rated encryption technology) and enables most
qualified consumers to be approved within minutes of submitting an
application. ABTAC will deliver competitive financing terms to the
information-empowered Internet consumer while at the same time delivering pre-
approved car buyers to Auto-By-Tel Accredited dealerships.
ABTAC opens for business late February 1997.
Auto-By-Tel Gives Dealers a Competitive Edge
The Used Car CyberStore enables Auto-By-Tel Dealers to compete with used
car superstores, such as AutoNation and CarMax, by offering consumers
competitively priced used vehicles in a no-haggle environment. Additionally,
the CyberStore's inventory capacity far exceeds the inventories of these
physically-fixed superstores, giving consumers a greater selection. Auto-By-
Tel's superior technology also provides Auto-By-Tel Accredited Dealers the
advantage when it comes to Internet marketing and sales. A recently
introduced Dealer Real Time program will enable dealers to receive and process
a customer's Purchase Request within moments after the Request is submitted.
That translates into higher customer satisfaction and, ultimately, more sales.
Auto-By-Tel Corporation is the premier Internet-based marketing service
for purchasing new and used vehicles and related consumer services, including
automobile insurance and financing, and has processed in excess of 450,000
Purchase Requests to date. Through the Company's website, consumers are able
to gather valuable information on automobiles and light duty trucks and shop
for vehicles and related consumer services from the convenience of their home
or office. There are over 1,600 Auto-By-Tel Accredited Dealer franchises
servicing consumers in the U.S. and Canada. All must maintain high CSIs
(customer satisfaction index) and are constantly evaluated by the consumer.
The program is available on the Internet at http://www.autobytel.com or on any of the
major online services and can be used by U.S. and Canadian residents.
Auto-By-Tel is a registered service mark of Auto-By-Tel Corporation.
(1) Mileage may not exceed 300 miles. Tax and license fees in some states
are non-refundable.
(2) Auto-By-Tel Accredited Dealers warrant major mechanical and electrical
systems in vehicles sold via the Used Car CyberStore for a period of 3 months
or 3,000 miles, whichever comes first, from the date of sale. Travel repair
service will be available throughout the U.S. and Canada via the Auto-By-Tel
Accredited Dealer Network.
SOURCE Auto-By-Tel
CONTACT: Melanie Webber, 213-960-1360, or melanie@rbicom.com, or Cassandra
Cavanah, 213-469-1906, or cassandra@rbicom.com, both of RBI Communications,
LA