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Premium car owners push for top used price, says Wizzle

Wizzle founder Sébastien Duval

Owners of prestige German car brands are more likely to hold out for a top price on their car when dealing with a trader, according to consumer-to-dealer trading platform Wizzle.

Wizzle, which enables dealers to source used car stock directly from consumers, found that BMW owners would hold-out for an average of 76 hours, Audi drivers 83 hours and Mercedes-Benz 85 hours before accepting a dealer’s offer in analysis of the average time between initial dealer bid on the car and a consumer agreeing to sell.

It found that the owners of more affordable cars were more likely to sell quickly, with Peugeots proving the quickest for dealers to buy.

The typical Peugeot seller tends to accept a dealer bid around 42 hours after listing.

The only German brand among the ten quickest selling marques is Volkswagen, for which a sale is agreed on average around the 62 hours point.

Wizzle has tracked the performance of all vehicles on its consumer-to-trade platform since launching in August.

Despite the tendency of Audi sellers to hold out longer than more mainstream brand owners, the fastest seller so far was an Audi A4 TDI SE on which a sale was agreed within 79 minutes of listing.

Founder of Wizzle, Sébastien Duval, said: “At first we expected the tendency for BMW, Mercedes and Audi owners to hold out longer on the sale to be because their cars might be worth more, which could lead to a longer negotiation.

“But there seems to be no obvious relationship between the actual cash values of cars and the time it takes to agree a sale.

“We see the same tendency, regardless of the car’s valuation, age or level of specification, because the prestige German brands are represented on Wizzle at all years and trims.

“The only conclusion we can make is that the sellers of German prestige marques have higher expectations on price.”

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Comments

  • Roger - 14/12/2016 18:38

    Statements of the obvious !!! As the premium brands sell on the basis of higher residuals. You pay more and generally get more when you sell. However its the relationship between the Price paid and the value achieved on selling that a owner should be most interested in .

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