eBay has signed a definitive agreement to buy Caramel, an online automotive transaction platform, aiming to simplify car buying and selling on its auction site.
Caramel eases the process for private individuals and independent dealerships by managing paperwork, ownership transfers, financing, and other essential services during car sales.
While Amazon launched its own 'Autos' site for new vehicles, eBay is working on streamlining the used car transaction process through its acquisition of Caramel.
The exact details of how eBay's car selling process will change post-acquisition remain unclear, but the deal is set to close in the next quarter.
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