Car Buyers And Sellers Boosted By Launch Of New Car Auction Site

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Thu, 18 Mar 2010

A new car auction website has launched, giving UK car dealers a new cost-effective way of selling their stock direct to consumers and trade.

UK Car Exchange is an online price-drop auction portal that allows sellers to upload their cars free of charge. An unlimited number of motors can be listed for sale on the site for free, with a fee only payable once a car is sold.

The cars are then offered for immediate sale, typically over a 14-day auction period, ensuring sellers enjoy "a fast cash return, without having to pay hefty commissions".

Price drops occur automatically on a daily basis by an amount pre-determined by the seller, and dealers have the option of showing their cars only to trade buyers, or to both traders and consumers. They also have the ability to set a reserve price on each car .

According to the site, dealers now have "another route to disposal", with the potential to achieve higher returns on surplus stock, part exchanges and over-age vehicles .

Tony Hinkley, UK Car Exchange's managing director, said: "We are really excited to bring this innovative new concept to the UK motor trade."

"Car dealers can now access a new national market, at no cost until a car is successfully sold, in addition to continuing to market their stock through traditional methods. This is particularly good news for those without forecourts and those that struggle to sell on cars which are approaching over-age."

He added: "We’ve already signed up a wide range of customers, from major dealer groups to single-site independent traders, and we’re looking forward to even more dealers joining us and taking advantage of the service."

For more information visit ukcarexchange.com.