A NEW online marketplace for used cars launches in the UK today.
Heycar.co.uk says it is on a mission to bring ‘greater trust and transparency’ to automotive retail.
The brand plans to do this by creating a superior user experience for consumers and dealers, launching with an inventory of more than 100,000 listed vehicles from nearly 50 brands across 1,400 dealerships.
Heycar says it has a strong focus on offering quality used cars to consumers. This is achieved by partnering with selected dealers and only listing vehicles that are under eight years old, have fewer than 100,000 miles on the clock and come with a warranty.
Perceiving that the UK used car industry has long suffered from strong consumer scepticism, Heycar aims to overcome this and make its mark through innovation and fresh thinking.
Heycar allows users to search for and find the used car they are after, complete with a finance quote, in a straightforward online journey.
Speaking at the launch event in London, CEO Mat Moakes said: ‘The UK used car industry is worth £50bn, yet it works inefficiently for consumers and dealers. Buying a used car can be like a lottery; you don’t know what you’ll get.
‘Existing websites are often cluttered with ads, eroding consumer trust. Dealers are burdened with rising fees for listing used cars online, squeezing their margins without a guarantee of leads or sales.
‘We’ve developed Heycar to solve these pain points.’
Heycar’s launch in the UK market follows the brand’s foundation in Germany in 2017. Since then, the company has built up an inventory of more than 400,000 quality used cars from more than 4,000 dealerships in Germany, making it one of the top players in that market. Heycar.co.uk now aims to build on that success in its second European market.
The brand is owned by Mobility Trader Holding GmbH, whose shareholders are Volkswagen Financial Services and Daimler Mobility.
Pictured are the Heycar UK leadership team.