Car Buyers in the Office Cost Employers $1,000s

BURLINGAME, Calif., June 22, 2011 /PRNewswire/ -- CarWoo! (www.carwoo.com), the only true online marketplace for car buyers and sellers where buyers connect anonymously with multiple dealers who compete for business and as a result get great market prices and save a ton of time, has made their innovative solution available to employers and their employees through the CarWoo! Perks program.

According to CarWoo! CEO Tommy McClung, "Buying a car is the second largest and most stressful purchase people make.  At any point in time, 9% of the people in an office are buying a car.  We know that these people are spending about 20 business hours on this purchase, and, because buying a car is a social event, they are engaging their friends and colleagues.  A single employee buying a car costs his or her employer over $1,000 in lost time and productivity.  For every thousand employees, a company loses nearly $100,000 per year because of car purchases taking place."

McClung continues, "With CarWoo!, because buyer anonymity is maintained, the phone calls and spam email are eliminated.  CarWoo! ensures multiple dealers are contacted and included in the buyers deal.  This ensures great market pricing and also gives the buyer the peace of mind that they are getting the best possible deal at any time.  Finally, CarWoo! makes it easy for the buyer or employee to comfortably conclude the transaction from their home and outside of business hours.  CarWoo! reduces the impact of car purchases to employers by over 90%."

The CarWoo! Employee Perks programs make CarWoo! available to employers and their employees with three plan options: A) No cost to the employer and a 55% discount to the employee from the standard $49 per buyer cost; B) No cost to the employee, employer paid at a flat $3,500 per thousand employees per year; C) A charity focused option with either reduced discounts or increased employer costs, but with a significant contribution to the charity or cause of the employers choice.

CarWoo! will be at the Society of Human Resource Management Conference in Las Vegas June 26-28 (Booth #2924).  Information is available online at http://www.carwoo.com/organizations.

About CarWoo!

CarWoo!, the only online marketplace for car buyers and sellers, 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.

SOURCE CarWoo!