12:31 pm, November 23, 2022
What is Motorway? How does it work? And how does it benefit dealers?
In the modern world, it’s crucial for dealers to adapt and modernise in order to achieve continued success.
One way which this is often achieved is by adopting an omnichannel approach and embracing new ways to buy stock, especially at a time when supply is so tight.
For many, Motorway would appear to provide an answer, but how does the process actually work?
Car Dealer has been looking at the firm in a bid to find out how the system operates and how it can benefit both dealers and consumers.
How do I sell my car on Motorway?
From a customer point of view, the system is straightforward. The user needs to head over to Motorway.co.uk and enter their car’s registration number to generate a rough value the car could sell for.
They are then asked to upload images of their vehicle to create a ‘profile’ that will then become visible to dealers.
A reserve price is then agreed between the customer and Motorway before dealers bid on the car in a daily online sale. There can often be up to 1,000 cars or more for sale every day.
After accepting the highest offer, the seller will then be contacted by the winning dealer to complete the deal.
How can I value my used car with Motorway?
Motorway produces an instant estimated sale price for a vehicle using specialist smart valuation technology that utilises live market data for cars, which ensures the online estimate is as accurate as possible.
From there, the firm assesses the vehicle’s condition using the pictures that have been uploaded as part of the profiling process to come up with a reserve price.
While that figure may fall below the original estimate, dealers bidding against each other have the potential to drive the final price to higher than expected.
Will I get more money selling my car on Motorway?
The simple answer is yes. By hosting daily online sales, Motorway makes dealers compete for the best stock, ensuring that the seller gets the best possible price for their car.
It doesn’t matter what online estimate you are given, at a time when used car stock remains tight, dealers are willing to pay to get their hands on the very best stock.
How do I get paid after selling my car on Motorway?
Dealers bid against each other in Motorway’s daily online auctions to determine the final price of your car.
Once the winning bidder is identified, you will be automatically alerted to accept the offer.
If you do decide to proceed with the sale, the dealer will contact you to make payment for the car. The dealer will then be in touch to arrange a collection.
Why sell a car via Motorway rather than other auctions?
Motorway offers a stress-free alternative to traditional channels and allows the seller a greater element of understanding and control – all from the comfort of their own living room.
The platform’s specialist smart valuation technology offers additional peace of mind that the price offered is a fair one and there is potential to fetch top dollar if a bidding war ensues between dealers.
The process is also incredibly quick as well as simple, with money usually arriving in a seller’s account within hours of a deal being completed.
Is selling a car on Motorway better than We Buy Any Car?
Selling your car via Motorway as opposed to We Buy Any Car gives you a better chance of making the most you can for your vehicle.
While We Buy Any Car will typically give you a valuation and then cut it back depending on issues, Motorway’s daily auctions give you the chance to get a better price as dealers bid for your car.
The system also allows you to sell directly to dealers, which also contributes to a far more competitive price.
How does Motorway work for dealers?
Dealers can sign up to be part of Motorway’s 5,000-strong national network, giving them access to a huge range of high-quality, privately owned cars across all the major brands.
They can then set up preferences and receive alerts the moment that suitable stock is listed online. Each vehicle is fully profiled with detailed photos, specs, condition and service history.
Sellers are vetted and price expectations are set to the right level for both parties.
Dealers can then set a maximum bid on any car they are interested in buying during the daily sale and Motorway will automatically bid on their behalf in increments of £50.
The winning bidder will then be connected with the seller in order to complete the handover.
