Consumers looking to purchase a vehicle are becoming increasingly accepting of online auctions. This is evidenced by the WeBuyCars online auction platform, launched to private consumers in March this year, which, the company says, has seen significant growth.
“The number of car buyers who are active online is an indication that this method is increasingly being considered by consumers,” says Janson Ponting, sales director at WeBuyCars.
“80% of all our sales to dealers are now conducted via online auctions, and much of that is thanks to dealer acceptance of the integrity of the offering together with relationships based on trust. It’s gratifying though, that we are seeing a similar shift from our public buyers, resulting in double-digit growth month on month,” Ponting adds.
Ponting says October was a record month for online auction sales to consumers, with close to 1000 participants. “Online car auctions combine convenience with our long-standing philosophy of offering more value and more options and gives buyers access to multiple vehicles that can be viewed and assessed simultaneously. It takes time for a new concept to gain acceptance, especially with big-ticket items such as cars, but thanks to our focus on constantly improving our digital offering and technology, underpinned by credibility and consumer trust in the WeBuyCars brand, this platform is gaining significant traction.”
“Traditionally, auction vehicles are sold without a warranty, this new development will not only provide vehicle finance that can be accessed online but sees purchase terms for ‘financed’ auction vehicles include a warranty offering, which will give consumers peace of mind,” says Ponting.
WeBuyCars has leveraged its premium technology which provides high quality 360° photographs of the interior and exterior of a vehicle. In addition to the detailed photos, each vehicle is accompanied by an online Dekra condition report providing an independent evaluation of the vehicles.
This can be accessed and downloaded on the WeBuyCars website, as well as at any of the eight branches, where consumers can conveniently view, and test drive the vehicles before bidding.
“We are constantly looking at ways to improve our offerings, be they on our warehouse floors or online. Customers are seeing the benefit of value, selection, convenience and transparency – all of which have long been part of our DNA, but which we are now leveraging into the auction space, and we are seeing the results,” Ponting adds.