We've been looking at the 'hot spots' in the week when you're most likely to sell your car quickly. And, for dealers, when the best times are to bid on a nice car. It was so interesting that we've decided to share our findings with the world. Here's a sneak preview of our story that will be shared with the media any day soon.
Selling your car is quick and easy with Wizzle
and Tuesday are the best days to sell your car – because dealers are hungriest for fresh used car stock at the start of the week.
That’s according to data crunched by boffins at Wizzle, a service that helps motorists sell their cars directly to dealers for cash.
The data also reveals that dealers make up to three times as many offers to buy cars on a Monday than they do later in the week.
It means motorists should take advantage of stronger demand at the start of the week to get the best price for their motor.
The figures also suggest that dealers need to act fast to snap up the best cars because the strength of bids often means many consumers do not leave their cars listed for more than two or three days – even though they are able advertise their car for up to five days on Wizzle.
Wizzle’s findings follow close monitoring of dealer bids on cars offered for sale across its Wizzle.co.uk website.
Analysing four months of sales data, Wizzle found that dealers are 20% more likely to log in to browse the cars for sale on Monday and Tuesday than any other day of the week. And they make 58% of all their offers during the early part of the week too.
There is typically a dip in activity on a Wednesday before picking up on Thursday and into Friday. Weekends are the quietest period online, probably because dealers are at their busiest handling customer enquiries on the forecourt during the weekend. Only 18% of offers are made on consumers’ cars online during the weekend.
Dealers are also more likely to have their offers accepted during the early part of the week. Wizzle believes that motorists who have taken the decision to upload their car are keen to sell quickly, which means dealers who wait more than two or three days to make their best offer risk missing out on the purchase altogether.
Wizzle founder Sébastien Duval said: “Our figures show that dealers are hungriest for fresh stock at the start of the week and that motorists are impatient for the quickest sale possible.
“It means consumers are best advised to offer their car on a Monday or a Tuesday to tap into all that concentrated demand and that dealers need to act fast if they want to buy, because the cars don’t hang around for long.
“One of the most interesting things we have found is that consumers don’t tend to hold out for a higher price once they’ve seen that there is strong interest in their car. Our figures clearly show that they are often tempted to snap up a fair offer made within the first couple of days after listing their vehicle.
“For dealers it’s obviously important to jump in quickly if they like a car that has only just been listed because a lot of people will be happy to settle fast for a good offer.
“For both sides in the deal the lesson from our first four months of trading is that the early bird catches the worm in the world of selling cars directly to dealers.”