Digital car appraisal specialist AUTOi is aiming to disrupt the cash-for-car market with the launch of a new trading platform bringing dealers and consumers together.
Wizzle is a web service and smartphone application which guides consumers looking to sell their cars direct to interested dealers through the process of uploading their vehicle details step-by-step to easily create accurate and transparent vehicle appraisals.
The rival to the likes of Tootle and Motors.co.uk has been launched with a network of more than 3,500 dealer staff – representing 1,000 motor retailers – monitoring cars uploaded for sale daily by consumers.
More than 200 cars were uploaded to the site by consumers in the first week, with the company aiming for 50 fresh uploads per day by the end of August.
AUTOi founder, Sébastian Duval, said: “The cash-for-car market has grown massively but often comes in for criticism in the consumer press for allegedly underpaying on the true value of consumers’ cars. But we all know that dealers also need protection from unscrupulous sellers and misleading vehicle descriptions.
“At the same time, the number of premium quality vehicles hoovered up by the big cash-for-car names has added to the stocking pressures on dealers missing out on part-exchanges and needing other sources to keep their forecourts fresh.
“By bringing consumers and dealers together on the level playing field of a transparent appraisal, description and auction process, Wizzle aims to create a genuine win-win for both sides.”
Wizzle has been built around technology developed by the Bournemouth-based technology business to manage smart repair insurance claims and claims to be the first platform of its kind in an industry that typically relies on buying cars ‘blind’, with verbal, pro-forma and text descriptions only.
The upload and listing service at www.wizzle.co.uk is free to consumers, with no subscription cost for dealers, who instead pay a transaction fee on a completed purchase, pitched lower than a typical auction house commission.
Launched on August 1, the first transaction was completed within three hours when Mazda dealer Carl Banfield, operations manager of Bourne Road Garage Ltd, in Crayford, Kent, bought a CX-5 Sport from a private local seller.