A new investigation by Auction4Cars has revealed the high fees being charged by some online car auctions in the UK.
The research from Auction4Cars, one of the country’s largest independent trade only online car auction websites, has shown 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 been busy studying the respective fees that customers pay when purchasing trade only vehicles in the UK.
And, it has 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.
John Hood added: “I would urge any VAT-registered trader in the UK to log onto auction4cars.com and register for an account if they haven’t already. The process is quick and easy and based on our investigation you will quickly find yourself saving a small fortune in auction fees – great news for businesses of all sizes in the current economic climate.”
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