Online car retailer Cazoo has launched a car buying service that will buy cars from consumers at a guaranteed price. The service is designed to simplify the haggling process and provide consumers with greater convenience and flexibility.
Alex Chesterman, who is the founder of Cazoo, said: “Until recently, we only bought cars directly from consumers as a part exchange when they were buying from us. Our new car buying service is transparent, haggle-free and convenient with an instant online offer guaranteed for seven days and the option for consumers to drop the car off at one of our 18 Customer Centres or have it collected from their home.”
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The service consists of an online tool where anyone who wants to sell their car can do so entirely online if they choose. The tool gives sellers an offer within seconds which will be guaranteed for seven days. The seller can either opt to have their car picked up from their home within days, or drop the car off at their nearest Cazoo Customer Centre. Payment will be made directly to the seller’s bank account, most likely within the hour. All cars are reconditioned before being sold on Cazoo’s website.
The car buying service complements Cazoo’s existing ‘Value car’ tool, which launched earlier this year. The tool has been popular with car owners who want to find out the value of their car ahead of a sale or part exchange.
Cazoo has also recently launched an all-inclusive monthly car subscription service in the UK for new cars and will be launching its full proposition later this year in both France and Germany.
Recent research from Cazoo found that three in 10 UK consumers are interested in subscribing to a car, rather than purchasing it outright or financing it.
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By GlobalDataA fifth (21%) of those surveyed now have more monthly subscriptions than before the pandemic started, with 44% of respondents selecting subscription services for convenience, 25% stating that it saves them money and 19% highlighting that it helps with budget planning.
