Auto Trader has launched a guaranteed part-exchange tool which gives car buyers an instant and haggle-free online price for their old vehicle.
Underwritten by auction house Manheim, the guaranteed part-exchange service aims to speed up the online car buying process, and help retailers capitalise on sales opportunities.
The online part-exchange price can be generated directly from within the car dealer’s adverts, further boosting customer convenience.
Retailers can either take the part-exchange vehicle for their own forecourts to sell as a used vehicle, or dispose of it through Manheim auctions.
“The part-exchange process represents a common pain-point for both retailers and consumers, which often results in wasted time and energy, as well as missed sales opportunities,” said Auto Trader commercial product director Karolina Edwards-Smajda.
“Our objective was to create a more efficient solution which significantly improves the consumer user experience, and in doing so, helps retailers sell more vehicles, more profitability.”
The price guarantee effectively switches a traditionally challenging process into a sales channel in its own right, she said.
It also enables car buyers to complete the whole process from home, as consumers increasingly embrace click and collect and home delivery for big ticket items such as cars.
“The service marks an important step in our commitment to support retailers with their digital retailing ambitions and complements the blended retailing experience many consumers have come to expect,” said Ms. Edwards-Smajda.
Auto Trader is now encouraging retailers to sign up for the guaranteed part-exchange tool by offering their first 60 days free.
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