A poor deal? How selling on a second hand car website could cost you £1,000
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Drivers selling motors on websites like WeBuyAnyCar can lose almost £1,000 on the car’s value, according to a study.
And it revealed owners of swanky models can miss out on more than £1,000 in a quick sale.
Research for car sellers’ bible Auto Trader found a BMW was down by an average of £1,282 compared with the publication’s valuation.
And it reckoned Audi owners were left £1,142 short while Mercedes drivers let their cars go for £1,044 less than the mag’s price.
The Auto Trader survey found cars with 2014-17 number plates made more by being sold privately as owners lost an average of £1,548 by using car selling websites.
According to the research carried out by consumer insights agency Join the Dots, cars from the lower end of the market for £1,000 or less only made 27% of the Auto Trader valuation.
Chris Haydon, senior research director at Join the Dots, said, “For more than 300 cars, WeBuyAnyCar offered a lower valuation than Auto Trader in 98% of cases – and although the average loss sits at £958– this study reveals the trends with brands, car types and ages that could strip consumers of significant profits if they don’t understand the true market value of their car.”
Ironically, WeBuyAnyCar has recently launched an ad campaign centred on time poor drivers prepared to miss out on a higher price in exchange for a quick and hassle free sale.
But the website slammed the research as “misleading” and said: “Private listing prices are indeed aspirational, whereas ours are a genuine offer to buy, making the two incomparable.”
In a statement it added: “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.
“We actually recommend consumers seeking the very highest price to sell privately, if they don’t mind dealing with strangers on the doorstep and handling the test drive.
“We remain the number one choice for over a million customers, who want to sell their car promptly, securely and safely with guaranteed payment and would rather avoid time-wasters, tyre-kickers and the personal risks associated with selling privately.”