NFDA’s sister association, The National Association for Motor Auctions (NAMA), Letchworth Motor Auctions, recently featured on ITV’s Good Morning show, called “Save with Dave”.
Letchworth Motor Auctions Director, Simon Morgan provided valuable insights into the dynamic nature of the auction market for consumers.
During the segment, it was highlighted that the UK sees around 7 million second-hand car sales, with 650,000 being sold at auction houses. The segment emphasized the potentially significant cost-saving advantage of purchasing vehicles at auctions rather than from retail forecourts.
Simon also discussed the auction houses’ implementation of providing two types of declarations for their cars: “Sold with trial” and “Sold as seen”. Particularly, the “Sold with trial “option entails 45 inspection checks, including a 10-mile road test, setting their services apart from those offered by other auction houses.
You can watch the full segment HERE.