An online auction launched by vehicle recycling specialist Remove My Car has seen garages receive more money for their unsalvageable end-of-life-vehicles (ELVs).
Exclusive figures show that on average its auction system offers motor traders fourteen per cent more than they would normally receive by accepting an instant online quote. To put this into perspective, a garage offered £128 in an instant online quote will fetch around £146 if they take their ELV to auction.
Motor traders are given no limit to the amount of ELVs they can put up for auction, in which Remove My Car’s network of trusted Authorised Treatment Facilities (ATFs) bid in real time. This all comes after traders are given an original quote from the recycling specialist, which they’re free to go back and accept if the auction doesn’t result in a higher bid. The system is the first of its kind in the industry and is available for use by both motor traders and motorists alike.
Figures from Remove My Car also show how successful the auction has been for specific makes of cars in its first six weeks of operation. Audis that go through the auction have received, on average, a staggering thirty per cent more than the figure offered in the instant quote. Similarly, traders who have sent BMWs through the auction have received twenty six per cent more than the average quote.
Steve Queen, Managing Director of Remove My Car, is delighted to see the auction already performing incredibly well for the garage industry.
“Our main aim for the online auction system has always been for it to result in motor traders receiving a higher and fairer amount for their ELVs,” he said.
“It’s only been operating for a short time but already the figures are remarkable, with motor traders getting on average fourteen per cent more for unsalvageable vehicles, and that will soon mount up as garages recycle more and more vehicles. ELVs are often a nuisance for garages, taking up valuable space and time but our auction offers a hassle free, convenient way to dispose of them, and can earn the garage more money than other disposal methods.
“Perhaps the best thing about the auction is that it’s both free of charge and risk free for motor traders.”
Remove My Car recently utilised its auction’s effectiveness for itself when it submitted two Volvos it supplied to the Trust My Garage Charity Drive, which raised funds for automotive charity BEN. The two Volvos both received £21 more than the original quote, and all of the proceeds will go to the charity.