Pep Boys to Help Buyers, Sellers Evaluate Used Cars
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PHILADELPHIA — Pep Boys-Manny, Moe & Jack Inc., one of the biggest U.S. retailers of auto parts and accessories, said Monday it will offer a service to evaluate used vehicles for customers that plan to sell or buy them.
The program will provide certification that a car, truck, van or sport-utility vehicle is mechanically and operationally sound. Pep Boys will check everything from the paint and carpet to engine performance and create a detailed report.
The cost for the service will range from $89.99 to $229.99.
The buying and selling of used cars is a $336-billion industry, the Philadelphia-based company said.
In 1999, about a quarter of the more than 40 million used cars sold in the U.S. were transactions between individuals, Pep Boys said. Until now, there has been no thorough certification available to those who wish to buy or sell a vehicle privately, Pep Boys said.
The shares of Pep Boys, which has more than 660 locations in 37 states and Puerto Rico, was unchanged at $6.13 in New York Stock Exchange trading. They had lost more than two-thirds of their value in the last year.
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