Results From CarWoo! Marketplace Show Clear Value of Negotiating With Car Dealers

BURLINGAME, Calif., Jan. 12, 2011 /PRNewswire/ -- According to an analysis of data now made available through the CarWoo! marketplace, negotiating with the dealer when buying a new car can yield significant benefits for new car buyers. Through CarWoo!'s anonymous confidential online marketplace, buyers receiving the best offers consistently make more counter-offers and generally negotiate more aggressively yielding better deals overall, saving them both time and money.

San Francisco based CarWoo! is an online service and marketplace through which dealers are connected with anonymous buyers, extend offers and sell vehicles.  Buyers are charged a nominal fee to access this marketplace while access is free to dealers.  Buyers receive multiple offers while retaining their privacy and dealers obtain referrals for buyers that fall outside of the traditional automotive lead system.

CarWoo! is not a broker and does not offer advice or guidance to either buyers or dealers.  The data analyzed is a result of the natural anonymous interactions between consumers and sellers during CarWoo! based new car sales transactions.

"While it makes sense that negotiating should result in better offers, it is interesting to observe that some buyers are reluctant to negotiate, even while remaining anonymous and conducting the interactions from the comfort of their homes," says Peter Chiu, Vice President of Product Management for CarWoo!.  

Chiu continues, "The dramatic difference in behavior between buyers getting the best offers and those getting the worst offers demonstrates that negotiating aggressively is very wise on the part of the buyer.  Of course, CarWoo! provides a mechanism which allows for stress free negotiating."

According to Tommy McClung, CEO of CarWoo!, "As CarWoo! continues to accumulate large volumes of real time data on all aspects of new car transactions, the findings are highly useful to both buyers and sellers.  This is not just random, raw data.  Because this data is based on all of the deal-making activities, including, but certainly not limited to pricing, the information from these analyses is very actionable."

The complete results of this analysis can be found on the http://www.carwoo.com/blog.

About CarWoo!

CarWoo!, simply the best way to buy a new car, was founded in 2009 by serial entrepreneurs, Tommy McClung, Erik Landerholm and Michael Young. It is the first online service that allows buyers to negotiate anonymously with multiple dealers, ensuring the best offers on the car they want.  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 www.facebook.com and on Twitter at twitter.com/carwoo.

SOURCE CarWoo!