The online selling revolution: A majority of Brits have sold something online, with half saying they’d sell their car
Selling items online is so easy nowadays. Clothes, video games, fitness products… it’s so simple to upload their details and sit back and watch as people snap them up.
But perhaps surprisingly, many of us are also happy to sell larger, more expensive items such as cars this way too.
In fact, an exclusive survey for Karam Mediahas found that more than one in five of us has said goodbye to an old motor by listing it on a website.
And the younger you are, the more likely you are to do so. Nearly a third of 18 to 29-year-olds have sold a car this way, whereas just one in ten of the over-60s have done so!
SATISFIED CUSTOMERS
While some people who have sold a car online chose to deal with potential buyers directly, selling to an online car buying service appears to be a more popular option.
In fact, nearly half (49 per cent) of the 2,000 respondents in the survey said they’d used such a service when they wanted to bid adieu to their old set of wheels.
Men were much more likely to have done so – in fact, 58 per cent of guys (compared to just 39 per cent of women) had used an online car buying service.
Glaswegians in particular had jumped on board enthusiastically with a massive four out of five having sold a car in this way. But come on Liverpudlians – you’re lagging behind! Just one in four of have taken advantage of this easy way to sell.Some people still prefer to deal in cash and don’t wnat to pay the online fees.
And were those who sold to a buying service happy with the experience? According to the results, most people (over three quarters) were, however, fees and service had big question marks over them.
56 per cent of those who sold a car to an online buying service had a positive experience
In fact, EVERYBODY who did so in Norwich, Nottingham, Cambridge and Stoke-on-Trent reported being perfectly happy with the exchange. For these areas, the market online is bigger and attracts a lot more potential customers.
SELLING ONLINE… OR IN PERSON?
When asked whether they’d prefer to sell a car online or in person, a majority said they’d rather sell face to face (48 per cent, compared to 19 per cent who’d prefer to do it online). Citing online merchants hold on to the money for longer.
Perhaps most surprisingly was that 35 per cent said they didn’t care either way.
Young people are more likely to embrace online car selling, with 34 per cent saying they’d prefer it over doing it in person
They were also less likely to sell other things online too. In fact, only around half of the over-60s had ever advertised something for sale on a website – a figure that shot up to 88 per cent of younger people.
Women have embraced online selling more than men
Women have embraced online selling more than men, the survey suggests, with 77 per cent saying they sell items online (compared to only 63 per cent of men). It’s most true of clothes with four out of five women admitting to having done so, compared to just two in five chaps!
THE BIGGER THE BETTER?
Of course, selling something for a few pounds is a lot less risky than parting with higher value items like property or a car.
Only a few people (7 per cent) said they’d be happy to put their house up for sale online. Those in Belfast were the bravest, with nearly a quarter open to the idea, while those in Norwich and Plymouth had the most reservations with barely three per cent thinking it was a good idea.
Selling online has its drawbacks
The bigger picture: 38 per cent of people said that a car was the most valuable thing they’d feel comfortable selling online
But many people are happy with the idea of listing their current car online. When asked ‘what’s the biggest ticket item you’d be comfortable selling online?’, 38 per cent answered ‘car’.
The survey revealed more than one in five of us has said goodbye to an old motor by listing it on a website.
But there are draw backs – don’t get conned by low valuations from traders who ring and contact buyers making cheeky offers, be prepared to get a lot of nusiance offers and the majority of these online traders have a buying firm who will buy cars that they will undervalue, so they can resell for more money. Especially citing the we buy any car rate for valuation which is generally more than 40% below the market value of you car.
It is a simple trick they use, generally, people are looking to get rid of the headache and they will often call you from different numbers and offer you the same or slighlty less than the offical partner offer, in order to make it look more enticing.