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eBay Unveils New Checkout Solution For Vehicle Transactions

1. eBay launches Secure Purchase for seamless vehicle transactions. 2. Simplifies payment, financing, registration, and transport for buyers and sellers. 3. 80% of eBay vehicle transactions in 2024 involve out-of-state buyers and sellers. 4. Secure Purchase enhances consumer confidence in high-ticket purchases like cars. 5. eBay aims to improve the vehicle ownership experience with new tools.

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Why Bullish?

The Secure Purchase feature may drive increased vehicle sales, enhancing revenue. Historically, innovations in e-commerce platforms lead to sales growth, as seen with Amazon's enhancements.

How important is it?

The launch of Secure Purchase is significant, potentially driving significant traffic and transactions on eBay, impacting its revenue streams positively.

Why Long Term?

Consumer behavior trends show sustained interest in online vehicle purchasing, which will likely continue supporting eBay's growth. Past trends indicate tech improvements positively affect long-term market position.

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Secure Purchase offers a trusted, seamless digital experience that makes buying and selling cars, trucks and motorcycles online more convenient, /PRNewswire/ -- Today, eBay, the marketplace with thousands of vehicles and millions of parts and accessories available every day, announces Secure Purchase – a solution that simplifies vehicle transactions by managing payment, financing, registration, ownership transfer, and transport in one simple experience. From daily drivers to rare restoration projects, it is easier than ever to buy and sell vehicles on eBay. eBay announces Secure Purchase – a solution that simplifies vehicle transactions by managing payment, financing, registration, ownership transfer, and transport in one simple experience. "Online automotive shopping offers unmatched selection and value, but it can be overwhelming for some buyers," said Jesse Kiefer, General Manager of Vehicles at eBay. "Secure Purchase removes complexity and adds an extra layer of assurance for users on the marketplace. Shoppers can find exactly the vehicle they want at the right price from anywhere in the U.S., while sellers can close deals with complete confidence. And there's no visit to the DMV." Vehicle transactions can be complicated, especially when they cross state lines. Notably, nearly 80% of purchases on eBay in 2024 involved buyers and sellers in different states.1 Now, with Secure Purchase, both the seller and buyer are verified, paperwork is automated and funds are digital and traceable. Here's how it works:   Start the checkout: Both the buyer and seller verify their identity and provide basic information about the vehicle being purchased. Opt into services: The buyer can select their financing, transportation, protection and insurance preferences in a few clicks. Submit key information: The seller uploads photos of the title, VIN and odometer reading, all of which are independently verified through national vehicle title databases to ensure accuracy. Payment and signature: The buyer and seller digitally sign the required documents, then transfer funds through the platform to initiate registration and title transfer. In the face of ongoing affordability concerns, consumers are turning to marketplaces for high-quality preowned goods, especially big-ticket items like cars or trucks. Along with its wide selection, eBay is offering new tools and services to help people discover the inventory they need at incredible value. Secure Purchase, and programs like eBay Guaranteed Fit and Tire Installation, reinforce the platform's commitment to making every step of the vehicle ownership journey better - from discovery and delivery, to maintenance and upgrades.Shop thousands of vehicles at ebaymotors.com and learn about the program at ebay.com/secure-purchase. For more on the latest offerings, follow @ebaymotors on Instagram, and @ebay on YouTube and Facebook.1 According to 2024 eBay U.S. vehicle transaction dataSecure Purchase is powered by the services of Caramel Dealer Services, LLCSOURCE eBay Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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