17 Mar 2024
If you’ve ever thought about selling your car, you’ve almost certainly come across websites like Motorway or WeBuyAnyCar. They promise a quick quote, a simple process and, often, a surprisingly strong headline price. For many drivers, that sounds like the perfect solution. Put your registration in, answer a few questions, and someone will collect the car with the money in your bank. Bob’s your uncle.
However, when you properly look into how these platforms actually work behind the scenes, you might find Bob isn’t actually your uncle. Maybe a second cousin that you forget the name of at a wedding or family function.
We recently spoke with Martin Stein of Signature Cars Ltd in Edinburgh, who regularly buys and sells vehicles through trade channels to understand the reality of these platforms. The short answer: these platforms are not necessarily bad. In fact, they can work well in some situations.
However, it’s integral to understand what they are, how they operate…and what’s in it for them.
They are not ‘buying’ your car
One of the biggest misconceptions is that companies like WeBuyAnyCar are directly buying your vehicle. In most cases, they aren’t. Instead, they act as a marketplace connecting the public with dealers. They’re basically an advertising platform.
Your car is effectively advertised to a network of trade buyers, who can then bid on it. The platform makes its money by charging the dealer a buyer’s fee, typically somewhere between £300 and £800 per vehicle.
From the platform’s perspective, the priority is simple: get the car sold. Whether the final price is exactly what the initial quote suggested is not always the most important factor.
The headline price is not always the final price
This is where expectations can sometimes get misaligned. These sites love to advertise this idea of getting a ‘quick quote’ by simply putting in your vehicle’s details. However, this ‘quick quote’ is not an offer. In reality, it’s often more of a guide price or suggested value based on the information entered.
As Martin put it:
“People think that when you put your car into Motorway they’re going to pay that price. But it’s not actually an offer. It’s a suggestion of what they hope it might get.”
Once a dealer agrees to purchase the vehicle, they will typically inspect the car in person before completing the transaction. At that point, the price can change. This might happen if:
- The condition isn’t exactly as described
- There are additional marks or wear
- Service history is incomplete
- Mileage or specification details were entered incorrectly
Sometimes the price stays the same. Occasionally, it can even increase if the car is particularly desirable, or if the market is strong. But it can also come down, and that’s where some sellers feel caught off guard.
The process isn’t always as “hassle-free” as advertised
The marketing around these platforms often emphasises convenience. In fairness, the process can be straightforward. However, there is still some work involved. Sometimes it can involve more work than just going to a dealership, even though they often come to you!
Typically you’ll need to:
- Upload detailed photos of the vehicle
- Provide documentation
- Enter accurate condition details
- Wait for dealer interest
- Arrange a time for inspection and collection
Martin described it this way:
“You need to take about 25 pictures, upload your documents, then arrange a time for the buyer to come out. They inspect the car and may reduce the price if it’s misdescribed.”
In other words, the process can still involve negotiation and coordination, rather than being a simple one-click sale. To be fair, there are situations where these platforms can produce very strong results. You’re effectively exposing the car to a large number of dealers at once, which can sometimes push the price up.
The quotes are optimistic, but not always realistic
These platforms operate in an extremely competitive market. Every day, thousands of drivers are searching for phrases like: “Sell my car” or “Value my car”.
The companies behind these services spend huge amounts on marketing to attract those customers. That means the initial valuation can sometimes feel optimistic. It’s part of what gets people to start the process.
As Martin put it rather bluntly:
“It’s a bit like dangling a carrot.”
Once the car is listed and dealers begin bidding, the true market price tends to reveal itself.
So, should you use them?
Platforms like Motorway and WeBuyAnyCar are simply another way to sell a vehicle. For many people, they can be convenient and perfectly reasonable, so we’ll never tell anyone not to use them. However, it helps to go in with the right expectations.
If you do decide to use them, keep a few things in mind:
- The headline valuation is not always the final price
- The dealer buying the car will likely inspect it before completing the deal
- There may still be negotiation involved
- The platform’s main role is connecting sellers with dealers
Understanding that structure helps you make better decisions. Online car-selling platforms aren’t inherently good or bad. They’re simply marketplaces.
The most important thing to remember is this: The first price you see is often just the starting point, not the final figure. If you understand that going in, you’re far less likely to be surprised by the outcome.
Thanks to Martin Stein of Signature Cars Ltd for his time. He hope this has been informative. If you have any other queries about selling your vehicle, don’t be afraid to speak to our team.
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