eBay has started listing several new cars a day on its site, but rather than let potential buyers bid up, they’re making them wait as the price slowly drops.The car prices start at their MSRP, then for every hour they don’t sell the price is lowered by $500.
There are definitely deals to be had during this promotion as the average savings yesterday was $8,464.29.
To participate in the reverse auction, just sign in to the site with your eBay account and prepare to pay a $500 down payment through your PayPal account when you pull the trigger.
Among the cars about to be sold between now and July 2nd, when the promotion ends, are two Chevy Camaros, a Ford Mustang and a Dodge Challenger.
But act fast: Yesterday, eBay and its partner Auto Nation listed 14 cars that sold out in 24 hours.
The best deal was a tie between a Chevy Malibu and a Ford F-150 that both sold within 21 hours. The savings amounted to $10,500 for each car.
Business Insider Emails & Alerts
Site highlights each day to your inbox.