Much more attention should be given to how one’s car is sold, especially considering that this is normally one's second most significant purchase after a house. The process should be convenient, safe, transparent and most importantly, the seller must get the best possible price, says get\Worth director Mark Ridgway.
The company is disrupting the used car market with its new hi-tech tools that can offer sellers close-to-retail prices and ensure its clients make informed decisions. The first in a line of products is called get\More and is aimed at helping individuals to secure the best possible price when selling a car while still having a professional do the work and handle the hassle.
Ridgway says get\Worth has a unique offering to those people that are looking to sell their cars for more. "Why would you want to sell your vehicle in 30 minutes if you can get much more by using our tried and tested tools. Our sellers using the get\More product have done very well – on average they have achieved 21% more for their cars.
"The process is supported by a complex in-house pricing model. get\Worth buys the car for immediate cash from the seller and takes ownership of the car. In most cases that immediate cash amount is similar to that offered by the trade," he explains.
The online car-dealer then markets the car online to the public and can raise finance for the buyers if necessary. The seller sets the price, not get\Worth, allowing them to try for as much as possible. However, get\Worth helps and coaches the client during this process with market data and advice.
"Bear in mind, the seller has already been paid close to trade and can therefore move on with his life, whether buying a new vehicle or just not having finance repayments or insurance to worry about any longer. Once the car sells, get\Worth pays out the balance less a service fee," he explains.
They are beta testing a product for sellers that are “underwater” - meaning that the finance outstanding on their current car is higher than the trade value of the car. The solution is elegant, secure and allows even a seller with financing constraints to get as close to a retail value as possible
It does not sell back into the dealer market and therefore the client is always selling into the retail space and hence securing retail prices. For buyers, get\Worth validates the car’s provenance, does a thorough inspection and guarantees the sale.
The company offers buyers a product called get\Seven: a 7-day or 700km no questions asked money back guarantee to provide true peace of mind nationally. Adding the ability to offer finance completes a picture where the seller and the buyer benefit from a truly mediated market - both secure the best of all worlds.
"We understand that a mix of Auto, Tech and Fin is required to change the current traditional ill-fitting used car market dynamics. As a core product get\More sits squarely in the intersection of this change," he concludes.
For more information visit www.getworth.co.za
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