The Car Buying Group helps dealers speed up roll out of a digital used car proposition
Posted 3 February 2021
The Car Buying Group (TCBG) is offering independent dealers the chance to increase the speed at which they digitise their consumer used car operation.
It is offering the underwritten part exchange prices in real-time which can be plugged into dealer websites. A web-based inspection tool also enables consumers to catalogue the condition of their own part-exchange prior to sale for accurate and more trustworthy purchase pricing. TCBG can handle the whole purchasing process with the consumer on behalf of the dealer or transact directly with the dealer post vehicle transaction.
The current Covid-19 trading environment has accelerated the number of consumers willing to locate and buy their next used car online, and TCBG believes dealers have got to act before their businesses are overlooked by digital buyers.
The shift to digital transactions is apparent throughout the automotive supply chain and will continue post any lockdown measures. 49% of TCBG parent company Aston Barclay’s buyers have confirmed they will continue with their increased digital engagement which looks to replicate with consumers.
“It’s reached a stage with some dealers that if they don’t roll out a digital used car offering soon their customers could go elsewhere, presenting a real business risk. More importantly, these new tools present a key growth opportunity,” explained Tom Marley, managing director of The Car Buying Group.
“In many cases if a consumer finds their next used car on a website and they can’t value their part exchange 24/7 or if the valuation is too cautious, the dealership risks losing a sale to a larger network able to offer the full service.”
“By offering our technology to dealers we can speed up their move to trading digitally, without increasing their costs,” he added.
To support dealer cashflow TCBG will underwrite the part-exchange to further speed up the transaction process. The dealer can also utilise TCBG’s national key-for-key delivery and collection service which enables dealers to get their car delivered at the same time as TCBG collects its part exchange.
“The consumer expects to gain access to their new car quickly and efficiently, even in the Covid landscape. That is where our key-to-key service comes in. Suddenly dealers are able to trade nationally through onboarding digital technology,” said Marley.