Although the trial is in its early stages, a wide range of vehicles have been sold through the site, ranging from superminis to executive models.
Currently between 20 and 50 vehicles a month are being placed on eBay, with the process being managed by Auto-online, which provides web-based remarketing for fleets, remarketers, dealers, and manufacturers to sell cars to the public via fixed-price or interactive-bid auctions.
BoSVM said that a third-party specialist was needed to control the selling process to ensure that public bidders were qualified before a final deal was agreed.
Chris Joyce, head of vehicle support at Bank of Scotland Vehicle Finance, added: ‘There is a fair amount of work done to monitor the process and ensure that the end-user has got a decent service. We are handing vehicles over rather than just selling, so there is a fulfillment aspect and if the process proves itself, then we could have a full fulfillment service where the vehicle is delivered direct to customers’ doors.’
Although the eBay process may need more effort than traditional auction, Joyce said the overall time it took to process and sell a vehicle was not too different.
However, physical auction still remains at the heart of the company’s remarketing process, despite its investigation of alternatives.
George Grant, managing director of Bank of Scotland Vehicle Management, said: ‘We will always need phy sical auctions and they also offer electronic sales, which we have used. Physical auctions can work very well for us.’