Online used-car marketplace expands to Cincinnati

March 25, 2013
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Indianapolis startup MaxTradein has expanded its operations to Cincinnati, taking the first step in what its founders hope will be a national rollout.

Childhood friends Peyman Rashid and Justin Bates launched their online used-car marketplace late last year, offering local consumers an alternative to the traditional trade-in process.

MaxTradein.com allows vehicle owners to list basic information about the car they’d like to sell—make/model, mileage and condition, for example—and invite several local dealers to make an offer. Dealerships have 48 hours to bid.

The owner chooses the preferred offer, and MaxTradein makes the connection.

The service is free to consumers. Auto dealers pay a subscription fee to be listed on the site.

The company said more than three dozen Indianapolis dealerships have signed up, giving them a shot at a wide range of used cars and customers ready to buy something new.

And with more than 1,000 cars listed on the website in two months, the partners decided it was time to grow. Eventually, they expect to have a presence in more than 30 markets nationwide.

They brought in Shawn Schwegman as chief operating officer to help achieve that goal. Schwegman was chief marketing officer for Carmel-based ChaCha Search, and previously served as chief technology officer and vice president of marketing for Internet retailer Overstock.com.

“You don’t often come across people with Shawn’s proven track record for growing and scaling companies to the next level and beyond,” CEO Bates said in a prepared statement.

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  • interesting
    for you
  • dfd
    dfdf
  • Wasn't for me...
    I used their service late last year to try to sell my used car to a dealer. Was only contacted by 2 of the 5 dealers I chose through their site (would have expected at least a "we decline to make an offer note") and the two at did contact me offered $4000 lower than what I ended up selling it for myself - which isn't MaxTradeIn's fault of course. Also limiting consumers to only 5 dealerships didn't seem to make much sense to me...

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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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