GERMAN PREMIUM CAR OWNERS HOLD OUT LONGEST OVER SALE

Mercedes-benz, BMW and Audi owners are the most likely to hold out longer for the highest price possible when it comes to selling their car.

According to analysis from consumer-to-dealer car trading platform Wizzle, dealers will typically have to wait longer for a seller’s decision after lodging a bid to buy their BMW, Audi or Mercedes than when going for less image-focused brands.

The company analysed the average time between a dealer’s initial bid on the car and a consumer agreeing to the sale, based on all transactions since the platform’s launch.

Wizzle found owners of more everyday brands were more inclined to agree to a sale quickly. Peugeot owners were found to be the fastest when it came to closing a sale, taking an average of 42.4 hours to give the sale the green light.

BMW owners, on the other hand, took an average of 76 hours, while Audi drivers averaged around 83 hours. Mercedes-benz owners took the longest, tending to hold out on a sale for 85 hours.

Volkswagen was the only German brand to be included in the top 10 list of quickest-selling cars, with a sale being agreed to after an average of 62.4 hours.

Wizzle founder Sébastien Duval said: “At first we expected the tendency for Bmw, mercedes and audi ownersto hold out longer on the sale to be because their cars might be worth more, which could lead to a longer negotiation.

“But there seems to be no obvious relationship between the actual cash values of cars and the time it takes to agree a sale.

“We see the same tendency, regardless of the car’s valuation, age or level of specification, because the prestige German brands are represented on Wizzle at all years and trims.

“The only conclusion we can make is that the sellers of German prestige marques have higher expectations on price.”