A website providing independent and franchised dealers with a low-cost cash for car site has launched for registrations.
BuyersCompared.com has its public beta launch in two weeks initially targeting car owners looking to sell Fords followed shortly by Citroen, DS, Mazda, Mitsubishi, Kia, Hyundai, Jaguar, Mini, Audi, BMW, VW and Suzuki.
On full launch the site will cater to all car marques.
It also has a trade to trade platform for buying, selling and underwriting cars.
The site will provide a real-time offer to the car seller from a number of independent and franchised dealers.
BuyersCompared chief executive Phil Hayes (pictured) said: “BuyersCompared is a car classified site in reverse.
“People looking to sell their vehicle enter the details and our algorithms automatically match buyers and what they’d be prepared to pay so that the seller can quickly set up a deal.”
The system will help dealers reduce the time and effort required to source stock, he said.
A seller will only be able to choose one dealer’s offer, so there will be no haggling, and once their choice is made the dealer has an exclusive period in which he can conclude the deal, so Dutch auctions will be avoided.
In the phase before public launch BuyersCompared.com is looking to recruit founder-member dealers who will be the first users able to make purchases through the system.
There is no charge for registration and no-charge for car purchases in the launch phase.
Businesses wanting to register as buyers on the system need to be a “reputable” VAT registered business.
Once approved, dealers will need to enter information on what they are prepared to pay for different vehicles compared to book value and also decide how many vehicles they would be prepared to purchase if they were offered at the right price by letting us know how much funds they have available. .
Hayes said: “BuyersCompared will revolutionise the way dealers buy stock.
“Reducing reliance on the auctions and getting sellers to go direct to the buyers. I’ve been in the trade for nearly thirty years so I understand the issues dealers face and promise we will be always be a low cost source for stock.”
Businesses looking to register as a buyer should visit BuyersCompared.com.
Applications will be validated prior to gaining access to the system.