June 22, 2020

The Cash For Cars Market

There has been a huge increase over the last few years in the use of cash for car websites, particularly in the UK. The idea behind such sites is that it makes it easier for sellers to dispose of their cars without having all the usual hassle of selling privately.

Whilst selling privately does obviously have the one benefit of usually being able to obtain more money, with the change in the economic climate actually being able to find someone in the position to purchase your car privately can be a difficult task not to mention an expensive one.

This is where the cash for car companies have cornered the market.

These car buying websites have been around for a few years now but with the recent increase in popularity there a new sites popping up each week.

The basic concept is as follows – The companies advertise via the internet that they purchase cars immediately for cash, when the seller visits the site they can enter their registration number and receive a cash offer. This is where things can be a little unfair or at least unreliable.

Most people will know that motor dealers in the UK use a number of different valuation guides to base any offers they make when purchasing cars. Now this valuation data is when is being used when the websites make the seller an offer for their car.

This obviously isn’t reliable and any motor dealer will tell you that the guide price in any book is literally that… A “guide” price, it’s not written in stone as so many different things affect the pricing of a car. Colour, condition, specification, history etc, all this information is extremely difficult for any computer software to understand, as well as that a dealer in the north of England will probably find a particular vehicle easy to sell whereas a dealer in the south may find it a difficult model to move on, again none of this can be taken into account by a piece of software.

Now this is where the business model can fail and doing any research online for testimonials you will find this is the case on many occasions.

Basically the seller agrees to the price that has been offered by the website, in many cases they have to travel to the company to complete the deal and upon arriving the company uses any excuse to reduce the price.

The other thing to consider is this, “what do you think the company is going to do with your car?”

Simple answer “sell it on for a profit” – usually to an actual motor dealer.

This is where you should use a comparison website. Cash for cars New York comparison websites work very similar to insurance comparison sites.

You can enter your vehicle information once online, the system then broadcasts your information to many cash for car companies as well as actual motor dealers.

There are no online offers as these have already been proven to be a waste of time, but what you will usually find is that by offering your car to so many companies and to so many different areas of the country you should obtain the strongest possible cash offer.

And because you have also put your vehicle in front of actual motor dealers you can cut out the middlemen and obtain an even stronger figure.

Leave a Reply

Your email address will not be published. Required fields are marked *