Digital car appraisal company Autoi has launched an online a mobile and online trading platform called Wizzle for consumers looking to sell their car to dealers.
The service involves consumers using Autoi’s technology in order to create accurate and transparent appraisals of their vehicles before listing them. Dealers are then offered the chance to bid for these vehicles.
There is no cost to the sellers, and dealers pay a transaction fee on a completed purchase, which Wizzle has said has been pitched as being lower than a typical auction house commission.
The platform launched at the start of August with over 3,500 dealer staff, representing over 1,000 motor retailers. The company said it was targeting 50 vehicle uploads per day by the end of August.
Dealers access the Wizzle listings through the Autoi system, with free accounts created for those not already using the Autoi appraisal process. Accompanying every vehicle record uploaded to the system, dealers see a ‘CAP Live’ and latest Black Book valuation, together with an Experian AutoCheck provenance and outstanding finance report.
Dealers can customise the Wizzle notification service to alert them whenever suitable stock becomes available on the system.
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Autoi founder, Sébastien Duval, said: “The cash-for-car market has grown massively but often comes in for criticism in the consumer press for allegedly underpaying on the true value of consumers’ cars. But we all know that dealers also need protection from unscrupulous sellers and misleading vehicle descriptions.
“At the same time, the number of premium quality vehicles hoovered up by the big cash-for-car names has added to the stocking pressures on dealers missing out on part-exchanges and needing other sources to keep their forecourts fresh.
“By bringing consumers and dealers together on the level playing field of a transparent appraisal, description and auction process, Wizzle aims to create a genuine win-win for both sides.”