John Hood, general manager, Auction4Cars
Auction4Cars, found that traders across England, Scotland and Wales are paying up to eight times more in fees when buying the same value used vehicle from other leading national competitors.
Auction4Cars, which was launched in 2008, has studied the fees that customers pay when purchasing trade only vehicles in the UK.
It discovered that prices vary by as much as 834 per cent more for the same value vehicle than they would from Auction4Cars.
For instance, a customer bidding for a vehicle below £5,000 would pay only £50 in fees at Auction4Cars compared with £467 from a leading competitor while the same customer buying 100 vehicles a year for less than £10,000 each from Auction4Cars would save themselves more than £50,000 per year alone in fees – enough to pay for five free vehicles on their forecourt.
John Hood, general manager of Auction4Cars, explained: "We have always prided ourselves on our extremely low auction fees, but it was only once we started comparing our fees against those of other leading online used car auction brands that we realised we weren't just talking a few pounds.
"In some instances, such as cars for sale online below £10,0000, we are talking over £500 for the same value vehicle which is quite staggering. When you multiply that over the year for an average customer buying 100 trade vehicles from Auction4Cars, those savings run into the tens of thousands of pounds, savings of course which they can then pass onto their customers – benefitting everybody in the process."
Auction4Cars currently sells used vehicles exclusively online to VAT-registered only traders in the UK supported by a network of collection points across England, Scotland and Wales. Vehicles start from £100 upwards. All vehicles are appraised, photographed and HPI checked by a team of experts before being listed for up to three days. They are also presented in trade condition to ensure a true representation at all times.