Sharp practice exposed by online car companies.
Car Buying Experiences Case History’s The Tesla Model 3
Both wewantanycar and Motorway were involved here but both these examples end with Motorway.co.uk
A customer contacted us about selling his Tesla Model 3. Let’s call him Mike.
Mike had gone to several webuyanycar rivals before approaching us to sell his Tesla.
Below are the offers he explained he already had on the table…
Heres what our seller was offered by these 4 car buying companys
Their valuation disclaimers below copied from their websites.
Our free online valuation is a pre-inspection offer and is valid for 5 days. It is therefore possible to book in for an appointment within 5 days of receiving the valuation.
We make this price as accurate as possible but it’s not until we see your car and give it an onsite inspection that we can offer you a final price for your car. We guarantee our valuation for 4 days.
The Valuation is provided strictly on a ‘subject to contract’ basis and we have the absolute right to withdraw the Valuation at any time without any legal consequence or liability to you. The Valuation does not constitute an offer from us to purchase the Vehicle.
Your car will then be shared in our daily sale, and dealers in our nationwide network will make offers for your vehicle.
You can choose to accept and proceed with the highest offer we receive, which becomes your final sale price
What Happened Next
We looked at the Tesla values and sale prices and made a firm offer of £37500 and said we could view it at his home the following day.
But convinced by Motorway that he would get the £39200 they had suggested, he decided to cancel our viewing and instead go with them unless we could better their offer. We couldn’t.
We went back over the vehicle valuation in the office several times, triple checked the details against the market, chatted with dealers and continued to scratch our heads.
Then two weeks later Mike contacted us to see if we’d be interested in beating Motorways offer of £37500
“Hang about,” we said “that’s £1700 less than you said they quoted”
“Well, yes, they said they would try and get me that; that was the reserve price, but I think that you and I know that was ambitious.”
“And wewantanycar? Well, they came back at £37000.”, but that’s £1900, worst than their initial estimate,” we said.
So, because it was now after hours, we said we’d make some call’s and come back to him in the morning.
Talking to our dealers, it was clear that so many of them had been offered the vehicle from several different buying sites that it was difficult to find one that felt like making yet another offer to us.
This is the problem created by offering your car to several sites at once; for example, you wouldn’t auction a painting at several different art auctions simultaneously, as I am sure you can see, that would confuse all the potential buyers.
So, it took a while to get hold of one of our regular customers who always pay us that bit more because he knows that we inspect and deliver the cars ourselves, and he offered £37650
But when we got back to Mike, he had already been contacted by Motorway, who had talked him into accepting £37900, so he’d sold it.
Who Lost Out?
Well, we did, but unbeknown to the customer, so did he, because later that day, we got offered another £38200, but we were too late to the party, having been put out of the game by Motorways ridiculous reserve of £39200.
This one was almost identical, with Motorway offering £39613 for his 70 plate model 3 standard range plus.
Note the peculiar figure.
To put this figure into perspective, you can buy a new one, not identical but actually a better, facelifted car, for just £1400 more on a 71 plate brand new from Tesla available in two weeks at the time of writing.
This time the seller accepted a slightly lower offer than his reserve of £39613 and accepted £38950 from Motorway’s buyer.
This was also too high for us to comprehend until the seller told us that Motorway’s dealer had failed to show up after two weeks of chasing him.
Motorway put it back on the site for him, but this time the offers had all been very low, not unusual when dealers see a supposedly sold car appear back up for sale, as they assume that the first buyer pulled out due to some unspoken issue with the car.
What makes our car buying service a better alternative to sites like webuyanycar.com and motorway.co.uk?
We pay what we quote online, charge no fee’s and never pass you over to third parties.
When you sell your car on our site, we make sure you only have to deal with us.
We make all the payments, inspect and collect your car.
In that way, we can guarantee a genuine 5 Star service with no fees, no lowered offers and no chance of being let down.
See Our Reviews.
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