1Wheel revolutionises Australia's private car sales market

1Wheel, a Perth-based startup, has introduced a service aimed at transforming how Australians buy and sell cars privately amid rising living costs.

Since its launch in April, 1Wheel has focused on offering a transparent and hassle-free alternative to traditional car dealerships. The company seeks to address issues such as high fees and undervaluation of vehicles that sellers often face. By providing a platform for private car sales, 1Wheel is tapping into a used car market in Australia valued at over AUD $100 billion.

At the core of 1Wheel's offering is a fully managed service that alleviates the stress of selling cars privately. It includes listing vehicles on major national automotive marketplaces, handling buyer inquiries and negotiations, and managing transfer paperwork and government lodgements. This ensures sellers receive maximum exposure for their vehicles while avoiding common problems in the private market such as time-wasters, low-ball offers, and scams.

The platform provides buyers with a safe and efficient environment to purchase pre-owned vehicles, thus addressing key pain points on both sides of the transaction. This approach aims to enhance the buying and selling experience for users, acting as a trusted intermediary.

1Wheel utilises idle.AI, a platform that integrates vehicle data, industry best practices, and compliance standards, to streamline this process. Additionally, the service offers added benefits such as finance options, extended warranties, and roadside assistance. These features aim to make the buying experience smoother while increasing the likelihood of sales for sellers.

"Our goal is to make private car sales as seamless as possible," explains Damian Lee, Founder of 1Wheel. "We're focused on delivering a new, hassle-free alternative for both buyers and sellers. For sellers, it's about maximizing the true market value of their vehicle, which is particularly important in today's climate with the rising cost of living. People need to get the most out of their assets. At the same time, we're striving to break the negative stigma that often surrounds pre-owned cars in the private market. Our platform is built to create a safe, transparent, and efficient process that benefits everyone involved."

1Wheel operates on a "No Sale, No Fee" basis, which means sellers do not pay anything upfront or encounter hidden charges; they only pay if their car sells. This risk-free proposition has been well-received by users seeking a cost-effective way to sell their vehicles.

By eliminating high commission fees typically associated with dealerships, 1Wheel ensures that more of the sale price returns to the seller. This aspect is particularly pertinent for Australians navigating current cost-of-living challenges.

Since its launch six months ago, 1Wheel has experienced significant growth, increasing by 35% month-over-month. This growth has attracted investor attention, with 1Wheel securing pre-seed funding from RBO Group to accelerate its operations and technology development.

"The Australian used car market is enormous, and it's clear that people are looking for alternatives that provide better value and a more straightforward experience," said Lee. "This funding allows us to scale our operations, improve our technology, and reach even more Australians who want to maximise the value of their car sales."

Looking to the future, 1Wheel plans to expand its operations into the eastern states in 2025. This expansion aims to target larger markets and refine its platform, enabling the company to serve a broader customer base.