CarsDirect
Encyclopedia
CarsDirect is an online automotive research portal and car buying service based in El Segundo, California
that allows consumers to research, price, purchase, insure and finance a vehicle online. The company also provides lead generation and referral services to auto dealers.
Idealab
. It was the first company to sell vehicles online directly to consumers, rather than referring consumers to brick-and-mortar dealers as all other online car buying services did at the time. In 2000, Roger Penske
invested in the company and joined the Board of Directors.
In 2004, the firm began to expand into other "big ticket"
consumer categories such as home mortgage
and real estate
with the acquisition of web properties including BestRate.com and LoanApp.com. Reflecting its diversification, the company changed its name to Internet Brands
in 2005, and the company was restructured into several divisions focused on vertical markets. The automotive operations now function as part of the automotive division of Internet Brands.
The site offers three car buying options: buying a new car online directly through the company, being matched with a screened new car dealer, or locating and purchasing a used vehicle through the site.
El Segundo, California
El Segundo is a city in Los Angeles County, California, United States. Located on the Santa Monica Bay, it was incorporated on January 18, 1917, and is one of the Beach Cities of Los Angeles County and part of the South Bay Cities Council of Governments...
that allows consumers to research, price, purchase, insure and finance a vehicle online. The company also provides lead generation and referral services to auto dealers.
History
CarsDirect was founded in 1998, launched from the business incubatorBusiness incubator
Business incubators are programs designed to accelerate the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts...
Idealab
Idealab
Idealab is a business incubator based in Pasadena, California.-History:Idealab was founded by Bill Gross in March 1996...
. It was the first company to sell vehicles online directly to consumers, rather than referring consumers to brick-and-mortar dealers as all other online car buying services did at the time. In 2000, Roger Penske
Roger Penske
Roger S. Penske is the owner of the automobile racing team Penske Racing, the Penske Corporation, and other automotive related businesses. A winning racer in the late 1950s, Penske was named 1961's Sports Car Club of America Driver of the Year by Sports Illustrated...
invested in the company and joined the Board of Directors.
In 2004, the firm began to expand into other "big ticket"
Big ticket item
Big ticket item refers to retail goods that have a high selling price in comparison to other items sold in the same store, and that have high profit potential associated with them....
consumer categories such as home mortgage
Mortgage loan
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...
and real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
with the acquisition of web properties including BestRate.com and LoanApp.com. Reflecting its diversification, the company changed its name to Internet Brands
Internet Brands
Internet Brands is a new media company based in El Segundo, California that operates online media, community, and e-commerce sites in vertical markets. The company also develops and licenses internet software and social media applications....
in 2005, and the company was restructured into several divisions focused on vertical markets. The automotive operations now function as part of the automotive division of Internet Brands.
Site Usage
CarsDirect's research portal provides access to vehicle specifications, reviews, safety information, and vehicle pricing information, including available manufacturer rebates and incentives.The site offers three car buying options: buying a new car online directly through the company, being matched with a screened new car dealer, or locating and purchasing a used vehicle through the site.
Recognitions and Awards
- Auto Dealer Monthly magazine awarded CarsDirect the "Diamond Award for New Car Leads" in 2010, 2009, 2007 and 2005.
- PC WorldPC World (magazine)PC World is a global computer magazine published monthly by IDG. It offers advice on various aspects of PCs and related items, the Internet, and other personal-technology products and services...
named CarsDirect a top 7 site for "buying or selling anything" in 2008. - PC MagazinePC MagazinePC Magazine is a computer magazine published by Ziff Davis Publishing Holdings Inc. A print edition was published from 1982 to January 2009...
selected CarsDirect as a "Top 100 Classic Website" in 2003 and 2002. - Time Magazine voted the site one of the "50 Best" in the world in 2002.
- Yahoo! Internet LifeYahoo! Internet LifeYahoo! Internet Life was a monthly magazine published by Ziff-Davis, which licensed the name from Yahoo!, the well-known web portal and search engine website. It was created and launched by G. Barry Golson, the former executive editor of Playboy and TV Guide.It dealt with the emerging Internet and...
awarded CarsDirect a "Gold Star Site Honor for Excellence" in the category of "Buying a Car Online" in 2002 and 2001.