Car auctions have had a long and successful history providing the Motor Industry with a wholesale platform for selling and buying vehicles at market value. The sellers provide a huge choice and variety of vehicles ensuring that every auction has stock to supply all demands for any budget.
Where do these vehicles come from?
We dispose of vehicles for many of the country's leading Financial Institutions including Banks, Finance Houses, Leasing Companies, Contract Hire, Fleet operators, Franchised Dealer Groups, Vehicle Manufacturers, Car Traders and the Public through physical and virtual car auctions every day across the UK.
Why do these vehicles come to auction?
Franchised Dealers and Car Dealer Groups
Dealerships often accept used cars as part payment for the sale of new cars. This is known as Part Exchange. The dealer may offer these cars for sale themselves, however; they often do not fit the profile of their business; for example, if a Vauxhall specialist takes a Ford in part exchange, this would not be the right car for them and they would send it to auction. They could also send to auction if the age, mileage, specification, condition or even the colour is not ideal for their retail profile.
Contrary to common belief, car retailers do not sell all the cars they offer on their forecourts. Many remain unsold and become 'Overage Stock'. They will be recycled through auction in order to provide funding for buying different cars that may have a better chance of selling.
Many of the cars on our roads today are not owned by their drivers, but are on hire in various forms from various financial institutions. When these cars come to the end of their hire term they are sold, but the financial institutions that own them do not have sale facilities so appoint auctions to sell on their behalf. These vehicles can be of any age but are normally between three and four years old and reflect the variety of makes and models that we see on our roads.
Often car manufacturers and importers will have a surplus of used cars that are too numerous to sell through their dealer networks and are therefore offered to the used car industry by sales at auction.