Today, people looking to Buy or Sell a Used Car do not really have too many options. Consider the case of a person looking to sell a car. The Car Seller has two broad sets of practical options available - the first where they are able to choose timing of the sale but without much control on pricing and the second where they have some measure of control on price but donot have any say on timing.
Let me illustrate; The first set of options consists, amongst others, of selling your car to a Car Dealer. Here you absolutely control timing - ie you can choose when to sell, but you do not have too much of control on price - ie you are dependent on what the Car Dealer offers to you....
The Second set comprises options such as Newspaper or Online Advertisements - where you can mention a firm price and stand by it thus controlling the price but you do not know when the sale will take place - thus you donot have a control on timing !! The same dilemma is faced by the Car Buyers and more often than not they end up buying mostly through Used Car Dealers. As a consequence, there exists a fairly significat price difference between the price at which a Used Car is sold by the original Seller and the price at which the Used Car is finally bought by the final Used Car purchaser.
At Carbiz we plan to shortly begin Online Used Car Auctions to provide both Car Buyers and Car Sellers a 100% transparent and above board process of price discovery and so as to afford both Car Buyers and Car Sellers better prices by squeezing the margins of the intermediateries.
We would appreciate your feedback and would welcome your opinion on what you think such a service should offer. Do write in to us at contactus (at) carbiz.in with your suggestions