Marks & Spencer to sell cars online

A European Web start-up has received high-profile backing from Marks & Spencer Financial Services, Andersen Consulting and venture capitalists, Atlas Venture in its bid to sell discounted cars online.

OneSwoop.com will enable consumers to buy cars direct from European dealers and have them delivered to their door. It promises savings of up to 40 per cent on UK forecourt prices.

Purchasers will be able to arrange a personal loan from Marks & Spencer Financial Services through the site and also be able to buy insurance. Financial group, Fortis, will act as a trusted third party for financial transactions.

OneSwoop.com has signed up independent testing organisation SGS to inspect the vehicles and audit its delivery processes under its SGS Qualicert Customer Satisfaction Certification Programme.

Alan Stevens, editor of consumer organisation Which? Online, said: "We think it's an excellent idea. Consumers have been ripped off for far too long. We've been running the 'Great British Rip-off' campaign for about 18 months and as part of that we've been talking to a number of Internet car dealers. We want to help people buy cars abroad."

OneSwoop.com has received first round funding E6.2m and will go live in January next year.