Car buying firm to close 70 sites

Motor trading company We Buy Any Car is cutting back its resources, shutting 70 trading sites and cutting approximately 100 jobs according to The Mirror.

The firm offers cash for cars to sellers looking for a swift sale. Typically valuing a car online, We Buy Any Car makes a web offer for the vehicle then requires clients to drop their car off to one of the company's 200 collection sites around the country. The reported closure of 70 of its 200 UK sites could hit the trader's business hard, pushing those selling a car to seek more convenient or conventional methods, rather than spending more time transporting their old vehicle to wider geographically spread car buyer locations.

An unnamed source cited in The Mirror, described the squeeze on employees to offer as little as possible for cars,  finding defects that reduce the offer price during the vehicle inspection, saying: ''Typically we aim to knock 20-25 per cent off the price quoted online.''

The source also revealed that the firm generated around £500 in revenue from each car, commenting that the company had grown in an unsustainable manner in recent months.

With other companies offering to stick to 96 per cent of the agreed purchase price, such revelations alongside reduced drop off locations in the UK, could damage business for the motor trader.

Despite press reports, Julia Phipps, marketing director at We Buy Any Car has denied closures - motoring commentators will remain vigilant in the coming weeks to assess the fate of the company.

 

 

 

 

Tim Pugh, Haverfordwest, Seat Leon FR

Andrew Sampson, Wirral, BMW M3 CONVERTIBLE