The CEO of online car selling platform Tootle claims that the inconsistency of prices paid by dealers for used cars can lead to customers ‘feeling like they are being ripped off’.
Tootle CEO Al Taylor made the comment as he revealed the results of research carried out by the business which revealed that 61% of motorists ‘dread’ selling their car, with more than a third fearing that they will be ripped off.
Taylor said: “The prices offered by dealers on a car can vary dramatically depending how desirable that particular model is to their customer base and it’s this inconsistency in pricing that can make consumers feel like they’re being ripped off.
“Our research also suggests that sellers get a below market price from car buying services or part-exchanging with a single dealer because the car will end up being put through auction - the cost of which is deducted from the offer price.”
Tootle’s survey of 1,000 motorists revealed that women are most nervous about parting with their old vehicle.
Tootle found that 68% of women dreaded the thought of trying to make the sale, compared to 53% of men, while 40% feared being ripped off, compared to 28% of men.
A quarter of those surveyed, meanwhile, said that haggling was the most stressful part of a car sale, with 24% stating that they had had a bad experience in the past.
Tootle offers motorists the chance to advertise their car for sale to a network of dealers, removing the need for them to make a deal themselves.
Taylor said: “By advertising their car to multiple dealers, we create competition and get the seller the best price. Tootle also removes the haggle and hassle, with most dealers collecting cars from sellers’ driveways.”