Most clients nonetheless desire utilizing franchised sellers for part-exchange valuations over on-line platforms. in response to latest analysis from JudgeService
The JudgeService 2024 State of the Nation report, which surveyed 5,789 clients, discovered that just about two-thirds (63%) are more likely to receive a part-exchange valuation from the retailer they plan to buy from, up from 62% final 12 months.
Conversely, regardless of the rising presence of specialist on-line valuation providers, solely 14% of respondents stated they have been doubtless to make use of one, a slight lower from 15% the earlier 12 months.
This choice for sellers is clear throughout all age teams, growing from 58% amongst these underneath 25 to 66% for people over 75. The 46-55 age group stays probably the most inclined towards on-line providers, however solely accounts for 17% of customers.
When requested which web sites they might go to for part-exchange valuations, 40% of automotive house owners named WeBuyAnyCar, down from 46% final 12 months. Motorway noticed a slight enhance from 14% to fifteen%.
Neil Addley, managing director of JudgeService, commented: “Our information as soon as once more highlights the often-overlooked function of franchised sellers as the popular supply for part-exchange valuations, regardless of the thrill created by on-line automotive shopping for providers.
“With the September plate-change marking an important interval for part-exchanges, sellers should try to make the method as simple as doable for each current and new clients to safe truthful valuations for his or her trade-ins, particularly within the present subdued new automotive retail market.”
Addley added: “It is evident from our findings that together with valuations within the gross sales course of is the popular choice for many house owners. Nonetheless, this alone is not ample. Dealerships should additionally actively use their buyer databases from new and used automotive gross sales and aftersales to proactively supply valuation providers.”
“Prime-performing sellers perceive the importance of offering part-exchanges to safe gross sales and replenish their used automotive inventory. Additionally they recognise how simply this enterprise can shift to on-line opponents.”
The analysis is a part of the annual JudgeService State of the Nation report, which will likely be printed in September.
