CarDay Offers New Yorkers A New Hassle-Free Way To Buy & Sell Used Autos Online.Business Editors & Automotive Writers NEW YORK--(AutomotiveWire)--Oct. 30, 2000 All Cars Are Inspected, Certified See certification. With a Minimum 6-Month/6,000-Mile Warranty Traffic to CarDay Site Has Risen 400% Since Entry Into the NY Area Market CarDay Inc., (www.carday.com) the first of its kind brick and click online site for buyers and sellers of used vehicles, has expanded its operations to the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey and Connecticut area and now offers tri-state consumers a hassle-free way to buy and sell used cars on the Internet. Previously available only in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. , CarDay has established franchises with 20 dealerships throughout the tri-state region For other tri-state regions, see . The Tri-State Region is commonly used in the area surrounding New York City to unambiguously refer to the greater metropolitan area. Sometimes the phrase is shortened to "the Tri-State," or "the Tri-State Area" is used instead. , bringing the company's total to 45. The company will have a national presence by late 2001. "From the moment the automobile was invented, people have always had difficulty either selling or buying used cars," Joseph Shaker Shaker Member of the United Society of Believers in Christ's Second Appearing, a celibate millenarian sect. Derived from a branch of the radical English Quakers (see Society of Friends), the movement was brought to the U.S. , co-founder and president of CarDay said. "Today, New Yorkers and Jersey-ites will now be able to enjoy the same convenience New Englanders New England A region of the northeast United States comprising the modern-day states of Maine, New Hampshire, Vermont, Massachusetts, Connecticut, and Rhode Island. New Eng have enjoyed. "Buying and selling automobiles on CarDay.com is a breeze. With our financing and warranty options, sellers can obtain a higher price for their cars because the buyer has greater protection. For the used car buyer, the hassle Hassle () is a location in Närke, Sweden, where a Celtic treasure was found in 1936. It comprises a large bronze cauldron which contained two Bronze Age swords of the Hallstatt type, a pommel of bronze, two bronze buckets with and the risk are eliminated. CarDay gives the buyer and seller complete control of the process - all from the comfort of their PC station," Mr. Shaker added. For the used-car buyer, the prospect of dealing with the unknown - the car seller and the condition of the used car -- has historically been a risky proposition. Additionally, used-car sellers have not been able to get value for their vehicles because they cannot offer warranties or financing. CarDay solves these problems by providing consumers with industry-leading warranties, certifications, safeguards and protections. Dedicated CarDay AutoExperts - automotive professionals at local franchised dealerships - manage the entire transaction, from inspecting and cataloging vehicles to monitoring offers to assisting with financing and paperwork. Used-car buyers and sellers never meet each other, thus eliminating the typical stress and liabilities common in private transactions for large-ticket items. Every vehicle listed on CarDay.com is no older than 10 years with less than 100,000 miles, is required to pass a 110-point certification and is backed by a minimum six-month/6,000-mile power-train warranty. As a result, consumers receive more value, product information liability protection and peace of mind. In just the two weeks since entry into the New York - area market, there has been substantial proof of the viability of the CarDay concept. Certification Centers (the select auto dealers that CarDay has chosen to partner with) have already received hundreds of actual offers from consumers who are ready to purchase automobiles. At the same time, traffic to the site has increased over 400 percent - from 1,000 unique visits per day to over 5,500; and calls to the CarDay help line - for people who want car information by phone - have increased 100 percent. These accomplishments are particularly significant given that CarDay's operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. have remained relatively low. The $750 billion used-car industry is three times as large as the new-car industry, and with the growth of the Internet, experts predict more people will buy and sell cars online. Recently, Gomez the Internet measurement firm released a study estimating that this year alone 1.3 million used vehicle sales and 1.8 million new vehicle sales will be initiated online. By 2004, it is forecast that 10 million consumers will initiate an automobile transaction online annually. About CarDay Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , CarDay (www.carday.com) is the first "brick and click" exchange for used vehicles that incorporates a network of franchised automotive retailers. CarDay was launched in May 2000 and began with $25 million in initial funding from Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. , Odeon O`de´on n. 1. A kind of theater in ancient Greece, smaller than the dramatic theater and roofed over, in which poets and musicians submitted their works to the approval of the public, and contended for prizes; - hence, in modern usage, the Capital Partners, Citigroup Investment and Sierra Ventures. |
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