Industry News

ForSaleByOwner.com grows car arm

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Building on its formula for cutting out the middleman in real estate, ForSaleByOwner.com is launching an online auto marketplace that connects car buyers and sellers. The new site, Cars.ForSaleByOwner.com, will provide listings for both new and used cars, trucks and motorcycles. An independent Web destination, the auto spinoff will let consumers search for vehicles by location, price, make, model and year. Shoppers will also get free access to auto values, insurance, financing and warranty company rates. "The response to our real-estate services has been completely overwhelming, so it makes sense for us to give consumers the power to buy and sell independently on other big-ticket purchases," said Colby Sambrotto, COO of ForSaleByOwner.com. "Cars are a natural extension of our core business." Sambrotto also said that the company would be looking to expand into other "big-ticket" categories in 2004. Cars.ForSaleByOwner.com currently lists more than 30,000 vehicles, which were poste...