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Online rival to Autoquake launches

Date: 18 March 2010

An online car auction site called UK Car Exchange has launched, providing a rival to established firm Autoquake.

The website is an online price-drop car auction portal which provides leasing companies and fleet managers with a "rapid and cost-effective way of selling stock direct to consumers and trade, saving the hassle and expense associated with traditional routes to market" said the company.

Cars are uploaded free of charge and offered for immediate sale, typically over a 14-day auction period.

"This ensures sellers enjoy a fast cash return, without having to pay hefty commissions," said UK Car Exchange.

Prices drop automatically on a daily basis by an amount pre-determined by the seller. The progressive price drop entices potential buyers, who are encouraged to buy promptly to avoid the prospect of being beaten to a purchase by a rival bidder.

UK Car Exchange said its website "gives another route to disposal, with the potential to achieve higher returns on sales".

Until a car is purchased, the seller's details are withheld, allowing the advertising of the same car at a different price through other channels.

UK Car Exchange managing director Tony Hinkley said: "Sellers can now access a new national market, at no cost until a car is successfully sold, in addition to continuing to market their stock through traditional methods.

"This will give fleet managers and leasing firms the chance to get maximum return for minimum effort, particularly with the option of selling direct to a consumer audience."

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