The fact you get more for a private sale than a quick deal will come as a surprise to no one. In fact, WeBuyAnyCar has marketed itself as a business that unashamedly offers you less money for a quick sale…
The car buying site’s 2017 advert says: “I might have got more money for my car if I’d sold it privately… but I ask myself how much I value my time…”
However, you could end up as much as £1,000 out of pocket if you choose a guaranteed sale website over a private transaction, a consumer insights group claims.
Research commissioned by Auto Trader and conducted by Join the Dots agency shows that the average car on WeBuyAnyCar.com is bought for £958 less than an Auto Trader private sale.
The research analysed 300 cars and a shortfall was revealed in 98% of cases.
Sellers can choose to advertise their vehicles with motor trade magazines and websites, or on eBay, but these all come with a fee.
They can also take longer, as prospective buyers look to give the car the ‘once-over’, or incur delays in securing finance.
Comparatively, guaranteed sale websites provide a quick online quote that you follow up with a branch appointment where you can get a firm offer after an inspection. The offer comes without a fee, but is more than likely below the market value of the vehicle.
Chris Haydon, Senior Research Director at Join the Dots, says the study “reveals the trend… that could strip consumers of significant profits if they don’t understand the true market value of their car”.
WeBuyAnyCar has hit back at the research, saying it’s unfair to compare private sales with a “genuine offer to buy”.
A spokesman told Motoring Research: “WeBuyAnyCar provides a convenience service which allows motorists to sell their car often within a matter of hours, free-from the hassles and risks associated with a private sale.
“Many alternative options also charge a fee upfront for a service that cannot guarantee a sale.”
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