Monday, June 2, 2008
Used car sales are booming in each part of the country. We find a lot of used car showrooms in each nook of the city. There is one very close to my house and i could see almost 3-4 sales a day. Wow.. 3-4 sales mean a big sum as commission to middle man who owns the showroom. when inquired about the commission rates, i could find that a margin of 10%-20% went to the agent.
The buyer might even get cheated if he is unaware of automobiles. To break away from this - i think there should be a website where a seller can post his vehicles information and cite how much he expects. Thus people logging into the website gets much more options than he gets in a used car showroom. Though we have some websites currently running on this format, i still find a lot of opportunity in the domain.
Below, i add something to the existing.
Once the vehicle is declared for sale on the website, it shall bear a logo or a sticker which makes the vehicle classifiable while its in public (The logo means - the car is for sale and is being now listed on the website). It might take some while for a common man to understand what the logo indicate. The Logo has to be marketed considerably (Mass mailing, placards, news paper advertising etc will surely help).
To make this line of work function, there has to be a text messaging system incorporated. An interested buyer might spot the vehicle in public and may get curious to know its price. For this, there has to be a facility for the buyer to SMS the vehicles registration number to a particular code to get its info. By this way, the interested buyer and the seller can directly meet for the deal without outlaying huge bucks as commission.
* I could find one UK based company which does this but in a slightly different manner- PARKERS.