Buying & Selling

The vehicle auction industry in the UK and the wholesale function which it provides is a major contributory factor to the success of the used vehicle market in the country.  Auctions are a major source of quality used vehicles and provide an important barometer of the underlying vehicle market in respect to both vehicle supply and demand.  They provide access to large numbers of buyers for those wanting to sell and access to large numbers of vehicles for those who want to buy.

An important factor is the transparency of transactions through an auction, as auctions must be accountable to both buyers and sellers.

For many businesses auctions are the sale route for disposing of vehicles and sourcing of replacement vehicle stock.

 

How will using auctions help my business?

 

Selling

  • Often achieves higher values than trading a vehicle
  • Fastest and most cost effective way of converting vehicle assets into cash
  • Converts over-age and part exchange vehicles into cash to invest in fresh stock and keep cash flow moving

 

Buying

  • Large choice of vehicles allowing retailers to purchase for a balanced stock profile
  • Easy to source the vehicles demanded by customers
  • Indemnity provided against loss through defect in title
  • All NAMA members sign up to a Code of Practice giving buyers (and sellers) peace of mind

 

Added Value Services

The majority of auction companies provide a range of services beyond auctioneering vehicles that include:

  • Transport and logistics
  • Inspection services
  • Insurance
  • Stock finance
  • Stock profiling
  • Vehicle preparation
  • Online sales
  • Online catalogue listings
  • Market intelligence
  • Online vehicle tracking
  • Vehicle storage
  • Document storage
  • Training

 

NAMA Customer Charter

Members of the National Association of Motor Auctions pledge the following to their customers:

  • To promote best practice in the industry
  • To be fair to both seller and purchaser
  • To protect the purchaser against defect in title
  • To commit to the NAMA Code of Practice
  • To ensure all staff are familiar with customers’ rights under the Code
  • To have an easily identifiable procedure for handling of complaints
  • To provide access to an independent arbitrator facility