Today marks the first day consumers can buy a new GM car on eBay. Online viewers will be able to buy Chevrolets, Buicks, GMC's or Pontiacs before visiting a dealership. Initially, the program will only be in California, but plans are to extend it nationwide. GM says the effort is a a sign of renewed innovation at the government-bailed-out automaker. GM went through bankruptcy this year and has a $50 billion loan from the federal government.
Consumers visiting gm.ebay.com can 1)accept the "buy it now" price (reportedly lower than sticker), or 2) make an offer and begin negotiation. The site also allows consumers to compare prices across models and dealerships, determine the value of their trade-in, and whether they qualify for the federal "cash for clunkers" program.
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