Auto Trader is handing out an extra £100 to car buyers when they part-exchange their old car through a dealer using its Guaranteed Part-Exchange service or sold through its Instant Cash Offer platform.
As of this month, stock acquired through Guaranteed Part-Exchange and Instant Cash Offer will be exclusively listed on the Dealer Auction platform – all part of Auto Trader’s aim to ‘provide a profitable new channel for retailers to source vital new stock’, it said.
The £100 incentive marks the first time Auto Trader has directly contributed towards dealers’ marketing activity.
Running from August 23 until the autumn, the £100 extra cash offer will be available to all consumers completing a Guaranteed Part-Exchange through a retailer on Auto Trader’s platforms or a sale through the Instant Cash Offer service.
The offer will be promoted directly via the Auto Trader website and app.
The activity will complement Auto Trader’s major new marketing campaign which launched earlier this month and is designed to raise awareness amongst millions of consumers about the ease of selling their car via Instant Cash Offer.
A variety of adverts narrated by actor Jennifer Saunders will be shown across ITV channels over the next two months, as well as ITV Hub and digital channels including YouTube, Facebook and Instagram.
They will also be promoted through Auto Trader’s consumer email programme which has an audience of over one million.
Auto Trader says that in just three months, the Instant Cash Offer proposition has seen a 14 per cent increase in the number of enquiries made through the service, and a 31 per cent uptick in the number of vehicles sold by consumers.
It provides consumers with a ‘no-haggle’ cash price for their car, free home collection, no administration fees and immediate payment as soon as the offer is accepted.
The vehicles are then put straight back into the trade via Dealer Auction and listed under AT Consumer Sourced. Users of Guaranteed Part-Exchange will be provided with subscription-free access to this stock, says Auto Trader.
Commenting on the new offer, Auto Trader’s commercial product director, Karolina Edwards-Smajda, said: ‘Despite the incredible levels of consumer demand that we’re all seeing in the market, due to supply constraints in both new and used, retailers are effectively having to operate with one hand tied behind their backs.
‘We saw an opportunity to open a much-needed supply channel and unlock thousands of consumer sourced vehicles which have traditionally been very difficult, time consuming or costly to acquire.
‘By offering a cash incentive, coupled with a major new marketing campaign targeting millions of consumers, we’re aiming to put even more stock back into the hands of retailers, and to help them get the very best out of such unprecedented market conditions.’
All of Auto Trader’s dealers can now sign up to get their first 60 days of Guaranteed Part-Exchange free.