"Our offers open a new niche," said co-founder Peter Grigat. "We are the first and so far the only auction platform for company cars, leasing vehicles and cars that have been standing in a garage for a long time."
The car dealer from Hanau and Frankfurt attorney Alexander Schmitt developed the idea of a marketplace exclusively for fleet operators, leasing companies and car dealers.
The pair believe the online market offers several advantages to fleet operators: They can offer their used cars, don't have to deal with warranty matters as they would with private customers, and they are not disturbed by telephone calls.
"On top of that we find leasing contracts that are finished before their time," Grigat said.
Fiwabo offers free registration and vehicle storage.
In the case of a successful purchase, Fiwabo.de charges the buyer a fee of 2 percent of the selling price (a minimum of 150 euros).
Fiwabo.de is negotiating a cooperative arrangement with leasing organization ING Car Lease, which currently sells a few hundred passenger cars per month by fax.
"I am positive that our negotiations will soon be successfully finalized," said Grigat.