The owner of U.K.-based dealership Big Motoring World, Peter Waddell, has bought 70 vans previously owned by online used-car dealer Cazoo, he has revealed.
Waddell says he will use the vans for logistical purposes to help grow his car-buying business BigWantsYourCar.com, which was launched in 2021. He adds that he plans to increase the number to 300 in the coming months and target rival business WeBuyAnyCar.com, owned by Cinch owner Constellation Automotive Group, as he expands his similar business nationwide.
It is not clear if Cazoo wants to sell that many, but the company is in the process of selling off large parts of its business as it finalizes a redundancy consultation that will see 15 of its 22 sites sold.
Waddell was co-founder of Carzam, an online car-selling business like Cazoo that was forced to close in June last year. At the time, Waddell blamed Cazoo in part because Carzam was unable to raise sufficient funds after the fall in Cazoo’s share price meant investors shied away from investing more in a similar business model. The administrators of Carzam recently announced that Waddell and co-owner John Bailey were unlikely to get back any of the £12 million they were owed from the failing business.
The acquisition of the new vans to be able to collect cars purchased from customers across the country is a vital part of BigWantsYourCar.com’s plans, as it scales up its car-purchasing target from 100 a day to 250.
Waddell says his car-buying business is different from its rivals because it guarantees the price it offers customers in advance and will not haggle them down when the car is physically received. It does not charge for providing sellers with same-day payment.
To use the site, owners enter their car’s registration number, attaching pictures of the vehicle, on the BigWantsYourCar.com website, following which a ‘real person’ gives them the best price, which is guaranteed for seven days. If the owner accepts the price, BigWantsYourCar sends one of its new vans to collect the car from the customer’s home. Waddell is looking for any car under 10 years old and the business uses the slogan, “no fuss, no faff, no fees.”
WeBuyAnyCar.com asks sellers to bring their car to one of its sites around the U.K. where it is assessed by a mechanic. They can then put in a revised offer for the vehicle if they identify dents, chips or other problems.
Waddell will use the new vehicles to sell at his Big Motoring World car showrooms or trade the ones his business doesn’t need with Manheim Auction Services, with which he recently signed a new deal. Big Motoring World has five car supermarkets and will soon open a sixth in Wimbledon, south-west London.