Transparent Vehicle Data

Buyers indicate that data transparency is key when buying at auction


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Transparent Vehicle Data

Our recent sentiment survey has revealed that dealers are looking for more transparent vehicle data to help inform their purchasing decision at auction. 

Dealers who responded to the monthly survey indicated that service history, private hire check and mileage discrepancies are the three most useful pieces of information when deciding whether to buy a vehicle or not.

As more vehicles are bought online, the need for more comprehensive information makes sense when buyers can’t physically interact with the vehicles they purchase. Last year in our industry white paper, we predicted that more than 80% of wholesale vehicles will be transacted online by 2030, so this will only become more important as the shift to digital continues.

The results aren’t surprising – understanding a vehicle’s history is becoming increasingly difficult in a developing market where more consumers are using their vehicle for both personal and business use.
 
57% of dealers that responded ranked private hire and mileage discrepancy checks in their top three factors affecting purchasing decision. A quick search online reveals the scale of the challenge for dealers where more and more cars are being clocked or used as taxis than ever before.

Vehicle data company HPI estimates that 2.3 million clocked cars exist on roads in the UK, and there are 285 councils or local authorities that hold private hire use data. This presents a potential minefield for a dealer when purchasing at auction, where one mis-represented vehicle can lead to a damaged reputation or even thousands of pounds worth of fines.

Philip Nothard, Customer Insight and Strategy Director – Cars, commented: “With the number of clocked cars on the roads rising, and also those being used as private hire vehicles, it’s always going to cause a headache for a dealer looking to pay a fair price at auction.”

“Dealers should take care prior to purchase and ensure they have carried out all of the relevant checks when conducting their research. All the information is available online and making sure they fully understand a vehicle’s history will mean they pay the right money and can avoid any potential disputes down the line from their own customers.”

While the dealers that responded to our survey told us this is something they’re concerned about, we know that plenty of people are still getting caught out.

At Manheim, our vehicles are listed online ahead of the auction, so our advice is to look at the catalogue and check out the vehicles you’re interested in before you buy.

  

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