AutoTradeCenter.com Establishes Online Web Site for Consumer Trade-Ins
15 February 2000
AutoTradeCenter.com Establishes New Online Web Site for Consumer Trade-Ins
SCOTTSDALE, Ariz.--Feb. 15, 2000--AutoTradeCenter.com Inc. (OTC BB:AUTC) Tuesday announced that it has established a new Web site, www.tradeincarsonline.com, through its subsidiary BusinessTradeCenter.com Inc.This new site is the first and only known Web site that will enable a consumer to complete an online new car purchase transaction with a trade-in through Internet buying services such as www.autobytel.com, www.autoweb.com, www.carsdirect.com, and www.driveoff.com.
The company plans to launch www.tradeincarsonline.com prior to March 1, 2000 in the Phoenix market with further plans to expand to 300 cities nationwide.
Company President Roger L. Butterwick said, "We are excited about being the first to offer this new and revolutionary product. Our technology and process interface very nicely with the efforts being made with our other Internet-based initiatives. Trade-inCarsOnline complements the opportunities now available to the major online services catering to the retail new car market."
Trade-inCarsOnline will allow a consumer purchasing a new vehicle online to receive a firm purchase bid on his trade-in vehicle. This will also benefit consumers by providing a sales tax advantage in more than 30 states that compute sales tax on the net balance of a transaction after deducting the value of a trade-in from the purchase price.
The online new car referral and sales companies have indicated that 50 percent to 70 percent of their online buyers have a trade-in vehicle.
AutoTradeCenter.com is a leading Internet-based "business-to-business" automotive wholesale and remarketing company.
On its Web site, www.autotradecenter.com, the company markets its services to its national dealer base, to automotive lease and rental companies, and to banks and financial institutions across the United States who can use the site's many features for more efficient buying, selling and trading.
The site also is designed to provide large dealership groups a virtual private network internal inventory service through controlled security access.
For more information on AutoTradeCenter.com Inc., please visit http://www.autotradecenter.com/.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995.
The company intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby.
Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.