70% of Parents Surveyed Looking for Used Vehicle for Teen's First Car

    Autobytel.com Lists the Summer's Top Ten Most Requested Used Vehicles

    IRVINE, Calif., Aug. 8 Parents and teenagers looking to
tap the used car market before heading back to school won't be alone this
year.  Recent reports estimate used vehicle sales up four percent from last
year, while new car sales are experiencing a five percent decrease.  A survey
conducted on Autobytel.com's website(1) found that demand in the used car
market should continue as parents and teens begin to consider buying a vehicle
for the new school year.  The survey found that over 70 percent of both teens
and parents are looking for used cars when it comes to a teen's first car
purchase.
    While sticker price is the top reason both parents (42%) and teenagers
(58%) chose to shop for a used car, it isn't necessarily the top concern when
selecting the specific vehicle that qualifies as the teen's first car.  Safety
tops parents' list with 47 percent ranking it as their highest concern,
followed by cost at 22 percent and vehicle condition at 10 percent.  For
teenagers, cost remains the top priority at 43 percent, followed by the
vehicle's color and appearance at 23 percent, and safety ranking third at
20 percent.  The survey reports nearly 80 percent of both teens and parents
plan to spend less than $10,000.
    According to a recent survey(2) conducted for Autobytel.com by
Princeton-based Opinion Research Corporation, 39 percent of American adults
feel the current state of the economy would influence them to purchase a used
vehicle rather than buying or leasing a new vehicle, while 70 percent of
adults surveyed agreed that purchasing online could enable them to buy a
better vehicle for less money.
    In the Opinion Research study(2), over half (52%) of the respondents
indicated that the first source they would trust for objective information to
help them obtain the best price is a website (such as Autobytel.com) that
offers comparisons on multiple brands and features.
    "We have definitely been able to see the demand for used cars increasing
this year," said Andrew Donchak, Autobytel.com's Chief Marketing Officer.
"Our used car CyberStore has received a record number of purchase requests
every month since March."
    Autobytel.com's CyberStore offers thousands of dealer and manufacturer
certified and non-certified vehicles to car buyers, providing multiple search
options that enable users to select vehicles based on criteria that is
important to them, including price and monthly payment, make and model,
vehicle type, and certification status.
    In addition, CyberStore is designed to help relieve tensions that often
accompany the purchase of a used vehicle by providing comprehensive dealer
guarantees on certified vehicle listings.  Accredited CyberStore Dealers offer
certified vehicles with three-month warranties and a 72-hour exchange policy,
as well as non-certified vehicles.  All certified vehicles in the CyberStore
must meet state requirements for inspection and emissions, and the site
provides free "lemon checks" and access to extensive vehicle history reports.
    "Autobytel.com believes every car purchase should be a good experience
whether you're shopping for your first car or your tenth car, therefore we do
our best to accommodate everyone's needs," Donchak said.  "Our CyberStore
offers a great way to research and buy a used car, helping to provide peace of
mind before you let your teenager hit the road on their own."

    Autobytel.com's most frequently requested used vehicles this summer are:

     1. Honda Accord
     2. Honda Civic
     3. Ford Mustang
     4. Mitsubishi Eclipse
     5. Toyota Camry
     6. Ford Explorer
     7. Volkswagen Jetta
     8. Nissan Maxima
     9. Jeep Grand Cherokee
     10. Jeep Wrangler

     (1) Autobytel Online Survey June/July 2001
     (2) Opinion Research Corporation Survey April 2001