Retailers and wholesalers seeking a used car remarketing channel capable of delivering a seamless digital process that takes “minutes” will be united with a new solution this summer.
The creators of MOTOM promise to put the platform’s users first as they prepare to speed-up the process with the launch of the tech-backed social network for used car wholesalers and traders. Co-founder and chief executive Julian Humphreys is desperate to simplify a process which, he believes, remains flawed despite the advances made during the COVID-19 pandemic.
“For wholesalers with cars to dispose of it should take no more than a matter of minutes, and buyers should be able to act as soon as a vehicle becomes available,” says Humphreys.
“Auctions will continue to form a huge part of the mix but, even with all the tech now offered, they are often still tied to a structured sales process.
“We wanted to deliver the opportunity to remarket a vehicle directly, online, at any time of the night or day, in a matter of minutes. That’s what the technology facilitates – and that’s how it should be.”
Humphreys describes MOTOM as a truly independent sector provider, adding: “The feedback we have been getting suggests many retailers, especially independents, feel the market they operate in is being consumed by the vendors in many cases.
“At MOTOM we can look our customers in the eye and say that our motivation is to help them and their businesses.”
Alongside Humphreys, MOTOM is backed by a team of experienced fleet, leasing and finance sector specialists, including: chief commercial officer Mel Goodliffe; chief technology officer John Leightley; and chief financial officer Lisa Edwards.
At the time of writing, MOTOM was due to launch in late June. It is underpinned by technology created by Australian remarketing platform Flipacar now re-engineered for the UK market. Humphreys said its smooth operation and a framework that fosters trust and transparency between buyers and sellers, will be central to MOTOM’s success.
Car retailers can access MOTOM via the Apple or Google Play app stores.
A sign-up process requires a company number, FCA number or VAT number before the MOTOM team scrutinise a business’s publicly available data to complete a second phase of vetting. Finally, there is a transparent five-star rating process for every buyer and seller. Sellers’ vehicle details are auto-populated through the app, which also allows images to be taken via a smartphone or tablet.
Buyers can input their buying preferences, meanwhile, to ensure notifications are received when matching vehicles become available.
All listings are free, with a buyer’s fee of £150+VAT for each car purchase. Those first to register could save up to £7,500 thanks to automatic entry into a Founders’ Club which provides 50% off buying fees for the first 100 transactions or 12 months.
Humphreys said that the Founders’ Club had proved popular and encouraged dealers to sign up.
He said: “This is the platform the market wants and needs. There’s a palpable sense of excitement among the team and those traders we’ve given an early insight to.
“We can’t wait to get started.”
