One of the consumer-facing websites known for offering discounted furniture, rugs, bedding, electronics, clothing and jewelry is getting into the car business.
On Friday, Overstock.com announced the launch of the beta version of a new online vehicle-buying platform, Cars by Overstock. Site officials highlighted the full-service platform can help customers navigate every aspect of the vehicle-buying process, including research, purchasing, financing and protection plans.
Financing and insurance options are available through Ally Financial and CarCheq.
The site indicated data and editorial content for in-depth automotive research is provided through a partnership with TEN: The Enthusiast Network’s award-winning automotive brand MOTOR TREND.
Once their research is completed, customers can search Cars by Overstock’s database of nearly 4 million new, used, and certified pre-owned vehicles from thousands of dealers across the country before negotiating directly with the dealer, in some cases in complete anonymity.
Another beneficial feature of the platform lets customers easily browse and purchase high-quality vehicle protection plans for qualified new or used vehicles from trusted warranty providers, including plans for their current vehicles.
In addition, the Cars by Overstock platform can provide financing and refinancing tools so that customers can find competitive financing options for almost every budget and credit situation. The platform will also include comprehensive insurance offerings in the near future.
“We designed Cars by Overstock to provide the most full-service online car-buying experience available,” said Patrick Byrne, Overstock’s chief executive officer and founder. “Our process enables a consumer to conduct superb research efficiently, enter into negotiations, purchase warranty plans, and obtain financing.
“With Cars by Overstock, we’ve provided a safe and fair platform for both consumers and dealers from a trusted brand with nearly two decades of experience helping customers use technology to find exactly what they want, for less,” Byrne continued in a news release.
Scott Bailey is president of automotive at TEN: The Enthusiast Network.
“This partnership is a groundbreaking solution to deliver MOTOR TREND’S automotive data, research, content and insight to a new audience, in a new format,” Bailey said. “Going beyond the traditional retail elements that Overstock.com does so well, we’re excited to bring a wealth of content that in-market shoppers can utilize to enhance the auto shopping and research experience.”
Officials went on to mention the new service can give consumers the flexibility to negotiate a deal on their own terms, in some cases in complete anonymity, creating an easier and pressure-free vehicle-buying experience.
Additionally, the service is meant to empower both consumers and dealers by minimizing the time it takes to complete a vehicle purchase.
“Consumers will always have the ability to contact the dealership directly if they choose a more traditional experience,” the site said.
Cars by Overstock is currently housed as its own tab on Overstock.com.
For more information, or if you are a dealer that would like to become part of the Cars by Overstock network, visit cars.overstock.com.