Fleet Lease Disposal Inc. (FLD) has launched Veretech, a new service designed to increase online auto sales by providing consumers with a guaranteed offer for their trade.

"Handling the trade-in is the biggest hurdle for auto manufacturers, dealers and online automotive retailers who want to sell on the Internet," said CEO Michael Sheinson. "As many as 50 percent of online car buyers abandon the process during the transaction. We will keep these customers engaged in the buying process by providing a fair and guaranteed offer for the

vehicle through our proprietary software system and our vehicle remarketing process."

To demonstrate the value of the program, Veretech has launched with Anderson Honda of Palo Alto, Calif., one of the leading Honda dealers and an innovator in Internet sales. The program offers a guaranteed trade-in price

to Anderson Honda (andersondirect.com) customers.

"Unlike simple used-car pricing tools, this program adds real value to our online sales initiative," said John Anderson, owner of Anderson Honda. "The Veretech solution allows us to give Internet customers more control of the buying process which creates incremental sales and increases customer satisfaction."

While visiting the Anderson site, customers will describe their trade-in vehicle and receive a guaranteed price. Once at the dealership, the vehicle condition will be verified and deal finalized.

FLD specializes in remarketing off-lease vehicles from financial institutions and end of term fleet vehicles from Fortune 500 corporations. The company utilizes Carbitrage, a proprietary technology based system that

provides pricing information based on vehicle attributes, geography and current sales data. Sheinson said accurate trade-in pricing is

key to unlocking the potential of online finance, insurance and vehicle sales.

FLD expanded its management team to focus on its Web-based products by adding Mike McFall as president and Art DeLaurier as chief operating officer. McFall and DeLaurier joined Veretech from AutoNation, where they teamed to launch Internet strategies for AutoNation's more than 300 dealerships in major markets.

At AutoNation, McFall served as vice president of Internet marketing with responsibility for development of products, Websites and new business initiatives. Prior to AutoNation, McFall managed product development and marketing for GMAC, the largest vehicle lessor in the country. In 1994, he was chosen as one of six executives to provide the initial Internet strategy for General Motors, leading to the development of the GM BuyPower program.

McFall also has extensive marketing and product development experience in mortgage and bank deposit products.

DeLaurier served as vice president of technology with responsibility for platform development, Intranet products and strategy. He brings experience in technology, management and business strategy to the company. At AutoNation, DeLaurier was the primary architect of a business strategy that is now emulated by many other major auto retailers. He joined AutoNation after leading several business technology initiatives at Blockbuster Video. Prior to Blockbuster, DeLaurier held key technology and telecommunications positions

at Eastern Airlines and Burger King.

About FLD

FLD, based in Delray Beach, Fla., has more than 21 years of experience in vehicle pricing and remarketing. Founded by Michael Sheinson, the company combines its vehicle pricing expertise with leading-edge technology and logistical operations to help financial institutions, corporations and online car shoppers receive fair market value for off-lease and trade-in vehicles.

About Anderson Honda

Anderson Honda, based in Palo Alto, Calif., is the nation's sixth largest Honda dealer and has become a leader in merging online strategies with traditional retailing strategies. New Honda retail sales approach 5,000 units

this year, with approximately 200 units sold via the Internet each month.