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Overstock.com Launches Online Car-Buying Site

William White

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Overstock.com, Inc. (NASDAQ:OSTK) has announced the launch of a new website for buying cars.

Overstock.com Launches Online Car-Buying Site
Overstock.com Launches Online Car-Buying Site

Source: Overstock.com

The new website from Overstock.com is called “Cars by Overstock.” The website allows customers to search for an buy cars online. It also provides history for the vehicles, as well as video reviews and articles about them.

Much of the content concerning the vehicles being sold on Cars by Overstock will come from Motor Trend via a partnership with parent network TEN: The Enthusiast Network.

“Going beyond the traditional retail elements that Overstock.com does so well, we’re excited to bring a wealth of content that in-market shoppers can utilize to enhance the auto shopping and research experience,” Scott Bailey, President of Automotive at TEN: The Enthusiast Network, said in a statement.

Overstock.com’s new website for buying cars includes used, new and certified vehicles that are sold by dealerships across the country. The website also helps customers find financing for the cars that they want to buy.

There is also an option that allows customers to search for protection for their vehicles. Overstock.com, Inc. is also planning to add comprehensive insurance offerings through the website in the near future.

The new website from Overstock.com will create a rivalry between it and other websites that handle online car sales. One such business is Carvana Co (NYSE:CVNA), which also provides detailed looks at the cars its sells through its website.

You can follow this link to check over Cars by Overstock for yourself.

OSTK stock was up 1% and CVNA stock was down 1% as of Friday afternoon. However, CNVA stock is up 86% year-to-date.

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