The website was launched this month and represents an online price-drop car auction portal aiming to bring the buyers and the sellers together. The cars, which are uploaded free of charge, are offered for sale over a 14-day auction period. The price drops daily by an amount decided by the dealer. The progressive price drop entices potential buyers, who are encouraged to buy promptly to avoid the prospect of being beaten to a purchase by a rival bidder.
Another important feature of the website is that it allows the advertising of the same car at a different price through other channels by keeping the dealer’s details secret until a car is purchased.
UK Car Exchange’s management team, led by managing director Tony Hinkley, has over 75 years’ experience in the motor trade.
“We are really excited to bring this innovative new concept to the UK motor trade,” said Hinkley. “Car dealers can now access a new national market, at no cost until a car is successfully sold, in addition to continuing to market their stock through traditional methods. This is particularly good news for those without forecourts and those that struggle to sell on cars which are approaching over-age.
“We’ve already signed up a wide range of customers, from major dealer groups to single-site independent traders, and we’re looking forward to even more dealers joining us and taking advantage of the service,” he concluded.
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