The reverse auctions began at 12:00 PM EST today and will run through 8:00 PM EST on Monday, July 2. Each day about 10 vehicles will be posted for sale with an initial Buy it Now price that matches their MSRP. Every hour their prices will drop according to a list of prices that accompanies each auction. A 2012 Nissan Rogue that kicks off the promotion, for instance, is dropping by $500 per hour. The good news is that there is no limit to how far prices can drop, nor a reserve they need to stay above. The only limiting factor is the other person out there who's willing to pay $500 more than you.
As for what sort of vehicles will be sold via this promotion, the list includes vehicles from Chevy, Dodge, Ford, Jeep, Nissan and Toyota, and includes popular models like the Camaro, Mustang, F-150, Fusion, Challenger, Charger, Wrangler, Prius C, Camry and more. And in case you're worried about getting the Mechanic's Special, all of the 50-some vehicles being sold this way are still under factory warranty.
Get your wallets ready and head on over to the special landing page to watch the prices drop.
What's going on? It's not a limbo contest, but eBay is asking consumers to find out how low they can go in a modern version of the classic Summer Tent Sale, offering auto shoppers great deals on brand new 2012 vehicles.
Starting at Noon ET, Thursday, June 28 through 8pm ET, Monday, July 2, eBay Motors, in partnership with AutoNation Direct, will list more than 50 new 2012 cars and trucks in AutoNation Direct's eBay store, with each vehicle's listing price decreasing significantly every hour until one lucky customer decides the time is right to hit "buy-it-now" and make the purchase.
Car shoppers looking to find a great deal will have the opportunity to purchase vehicles during the sale period from a long list of popular brands such as Chevy, Dodge, Ford, Jeep, Nissan and Toyota. Each vehicle listing will appear at various times throughout the sale period in a special online showroom (http://www.ebay.com/new-car-revolution), and will remain there until someone feels the discount is too good to pass up and decides to pull the trigger and buy the vehicle – before someone else does.
· Vehicles for Sale – Brand new 2012 Chevy, Dodge, Ford, Jeep, Nissan and Toyota models will be on sale, including a Ford Mustang, Dodge Charger, Toyota Prius C, Ford F-150 and Chevy Camaro.
· Falling Prices, with No Basement – All vehicles will start at their MSRP pricing and gradually decrease every hour on the hour until purchased, with no minimum reserve.
· Save the Dates – The promotion starts around 12:00PM ET on June 28, 2012 and ends at 8:00 PM ET on July 2, 2012, or until all vehicles listed prior to 7/2/2012 at 8:00 PM ET are purchased. Each day of the promotion, new 2012 vehicles will be listed on the AutoNation Direct eBay store. No new listings will be posted after 8:00 PM ET on 7/2/2012.
· Purchase Details – The vehicles will be offered for sale nationally. The price includes all consumer rebates and dealer fees. Buyer will secure their winning bid with a $500 deposit.
· Buy Anytime, Anywhere – Any and all auto buffs, or those simply looking for great deals, can cash in on the promotion through the eBay Motors app. The app allows customers to shop on the site anytime, anywhere while keeping real-time tabs on the status of their targeted vehicle. As of May 2012, more than 9,000 cars and 340,000 auto parts sell every week via eBay mobile apps.
Terms & Conditions
– Includes all consumer rebates and dealer fees
– Tax, shipping, tag and title fees are additional
– Full payment is required within 3 days of auction close
– Vehicle delivery must be scheduled 48 hours following full payment
– Cash deals only, no financing
– Available first-come, first-served while supplies last
– Limit one vehicle per household
For more information on eBay Motors, visit: www.motors.ebay.com
For more information on AutoNation Direct, visit: www.autonationdirect.com