They help you sell your cars, even the damaged ones. And how?
Sellanycar.com! Where we can sell our car before going to the office and collect the cheque towards the evening? How do you make that happen?
We are able to do it thanks to our market knowledge. The online precision of the offered car value for your car in SellAnyCar.com is based on our market knowledge we acquired through our experience over the past 15 years in the car market. Furthermore, we do not have expensive show rooms and have a relatively low cost structure, which enables us to offer a service to businesses solving their sourcing problem. Hence, we can justify razor thin margins from them, and not from consumers. We are already one of the largest and most intelligent car buyers in the region.
You pay your sellers almost instantly, which might mean without selling it further. What is this business model?
We do not sell cars we buy back to consumers. We sell them to authorized partners, which could be automotive companies that buy fleets in bulk.
This way, we are bridging a very crucial gap in the used car trade. From a consumer perspective, we are offering the easiest, fastest and the most convenient way to sell your car. Whilst doing so, we are also solving a problem for the industry as well by allowing them to source cars in volumes at prices they are looking for.
We read that you offer a guarantee to buy the car. Does it mean you do not reject any car? Can I get a totally useless car and will you buy it?
Yes we will. Damaged and salvage cars are also among the cars we buy. For these cars, we make a fair offer judging by the residual value of the car. We will never reject a car. It doesn’t really matter to us – it could be three years in the sea and we’ll still take it.
What do you do with damaged cars?
Same thing we do with other cars. We identify the most optimal distribution channels in any state for a particular car and then we utilize these channels.
Your website says that you do the valuation of the car free of cost. Is it a fair price? What is the valuation process?
The valuation process is very simple. First you visit SellAnyCar.com and get a free online valuation for your car by entering some basic information about your car such as the car make, car model and year. Based upon the information you have given, you will get an approximate value for your car. Upon determining your car value in our website, you can book an appointment in one of our inspection sites to have your car inspected in more detail. Both the online valuation and the car inspection are offered for free. Upon inspecting your car, we will give you a fair and final offer for your car and the inspection process does not take more than 30 minutes.
We have hardly seen anyone appreciating second hand cars in Dubai, what is your take on that? Is there any demand for second hand cars?
The demand on second hand cars in the gulf region is massive. We are talking about a $ 2 Billion market. And it’s growing by 15% every year, although the grey market numbers are even much higher. The numbers of car changes in the region are very high. UAE is the trading hub in the region and a re-export destination. Expats come and go, and new models come out all the time with many people wanting to be seen driving the latest thing, which makes the used car trade an integral part of the automotive business in the UAE.
So, to whom do you sell your cars to?
Like mentioned before, we sell them to authorized partners, which typically are automotive companies that buy fleets in bulk.
In a recent interview of yours we read that Sellanycar.com is now a multi-million dollar business. That is indeed an amazing run rate! How do plan to grow your business further?
Being the fastest and most convenient car buying service, it is crucial for us to be reachable to our prospective clients within the shortest possible time, no matter what your location is. Looking at our growth rates, we are already one of the largest car buyers in UAE.
At the moment we are operating in UAE, Turkey and the Kingdom of Saudi Arabia with tens of locations. Our branches are located in all major cities in these countries.
Our future plan is to focus on geographic expansion. We hope to have a network effect. The more locations we have and the more markets we serve, we can identify market values even more.
You have tied up with car rental agencies. How do you expect this move to benefit the company or the customers? Will it mean a much quicker selling process?
As the fastest growing internet startup in the region, our client base has grown to significant levels and the number of cars we get to inspect in our branches have also increased exponentially. We are already offering a free car inspection, a guarantee to buy any car and pay you instantly. Moreover, we have noticed that offering a free rental car to bridge the time until the seller purchases a new car represents a perfect addition to our customer service excellence approach, which led us to that partnership.
How has it been like ever since the launch of sellanycar.com? Is the market environment conducive?
It has been very busy and exciting so far. Knowing that we are solving an important problem both for the car owners and car trade industry at the same time, and seeing the growing demand for our service makes us happy.
Regarding the market, we need to understand that almost every single person in the UAE owns more than one car and a lot of them change their cars twice a year. On average, UAE has more than 250,000 car ownership changes every year.
Therefore, we can say that change of ownership rates in the UAE, as well as the car per capita rate are among the world’s highest. Given these demographics, there are already a lot of people appreciating and loving the change in experience, especially when it comes to selling cars.
Do you think people in the Middle East will buy online when the brands are available easily?
Online businesses allow for transparency, convenience, instant comparisons, cost advantages and bigger choices. Our generation has realized the advantages. The offering online has increased in numbers, meaning that there are many more products and services we can now purchase online. Successful internet companies have built brands, which are trustworthy. Those companies enjoy the fruits of online business most, as the reluctance of paying upfront reduces with the credibility and popularity of the brand.
Selling brands online to selling cars online–where do you see the online retail industry going from here?
I see a lot of entrepreneurs starting companies in the internet sphere. I also see the press picking up on related topics. Moreover, there is huge growth in companies I am or was involved in. This is a sign that the general population is trusting electronic transactions more and more. The Middle East is a gold mine for internet investments. We believe that we will reach the levels of Europe within the next five years.