Negotiate Online For Cars - And Win

The Gen Y Way To Deal With Car Dealers

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Jul 20, 2011, 03:00 ET

BURLINGAME, Calif., July 20, 2011 /PRNewswire/ -- Based on the Gen Y expression that 56% of them would prefer to never deal with a dealer when buying a car, CarWoo!, the only true online marketplace for car buyers and sellers, provides the way for new car buyers to select the car they want, connect with multiple dealers and negotiate with those dealers anonymously, from the comfort of their home or coffee shop. The data collected from tens of thousands of online interactions provides clear evidence of the best way to get a new car online.

"Gen Y or the Millenials, people who have grown up with the internet, prefer to buy online," says Tommy McClung, CEO of CarWoo!. "CarWoo! allows and encourages that to happen. Now buyers can get their best offers, negotiate with dealers and do it all anonymously online. With no pressure, consultative online relationships between buyers and sellers are the norm on CarWoo!."

Data from the CarWoo! Marketplace illustrates the three key elements of effective online negotiation.

Effective online car buyers engage with the dealers making offers. On average, there are five to ten communications with the dealer of the offer ultimately accepted, and over 18 page views of the accepted offer.
Clear and courteous communications work best. Buyers have the best experience when their communications with dealers are explicit, articulate and polite. With that style of communication, dealers respond in kind.
Counter-offers are reasonable. Clearly unacceptable counter-offers result in dealer disengagement. Counter-offers that are reasonable result in acceptance by the dealer and satisfaction on both sides.

McClung says, "At one level our data illustrates the Golden Rule of car buying. If you treat the dealer the way you want to be treated, especially when you are online and anonymous, the result is generally highly satisfying. Beyond that, when you give the dealer the chance to engage, by engaging yourself, you have entered into the Gen Y realm of consultative selling and development of a relationship. Dealers are people too. Giving them a chance to work with you online does yield great results."

CarWoo! recently passed 100,000 fans on Facebook. In celebration of this, and in honor of the inaugural Fan Favorite Award, the Honda Fit, CarWoo! has just launched a sweepstakes on Facebook and will give away a Honda Fit when it reaches 200,000 fans. Details on sweepstakes can be found at the CarWoo Chronicle or on Facebook.

About CarWoo!

CarWoo!, as seen on The Today Show, CNN Money and other leading national media outlets, is the only online marketplace for car buyers and sellers. It was founded in 2008 by serial entrepreneurs, Tommy McClung, Erik Landerholm and Michael Young. It is the only online marketplace where buyers remain anonymous and dealers are ensured buyers who purchase within two weeks 80% of the time. With early funding by Y Combinator, CarWoo! is based in Burlingame, CA and is now funded by Blumberg Capital, Comcast Interactive Capital and Interwest Partners. Find us on Facebook at http://www.facebook.com/carwoo and on Twitter at twitter.com/carwoo.