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Car loans customers buy online
Oct 24 2008The number of buyers obtaining a Car Loans quote to purchase a new vehicle over the internet reached a record high in September.
Over 1,000 cars were sold over the month at more than 150 online auctions held by Manheim Auctions' Simulcast - a wholesale channel that links traders to physical auctions and allows them to bid against other online buyers as well as those actually in the auction hall.
Sales on Simulcast to the end of September are up 35 per cent from 2007 figures, with Manheim now transmitting live action to Car Finance customers over the internet from more than 40 auctions every week.
Mike Pilkington, managing director of the company, suggested that buyers were being attracted online by the ability to "minimise time and avoid travel costs", as well as by increasing trust in the system.
The record number of online car sales through Simulcast also demonstrates that there is still "a good level of activity in the market", he said.
This rise follows after British Car Auctions announced that the market for used cars appeared to stabilise in September, with prices even demonstrating a slight increase.
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