While eBay already offers some guidance and services to ease online car sales, such as escrow for holding funds, bringing Caramel in-house gives will enable it to expedite the process by taking care of a huge chunk of the stressful post-sale administration.
But more than that, Chris Prill, general manager at eBay Motors, says the acquisition is all about “creating trust” in the vehicle buying process, helping buyers and sellers avoid scams.
Neither company revealed an acquisition price, but eBay said it expects the deal to close in Q1 2025.