A car vending machine makes an appearance in London

Auto Trader has created a car vending machine that lets you buy a vehicle instantly by paying via smartphone. The first one has been placed in Spitalfields Market, London.

A car vending machine has made an appearance in London. It is owned by Auto Trader and is testing the new automatic car dispenser “showcasing the potential of instant car buying”. Through this system, the company allows customers to purchase a new vehicle by paying contactlessly on their smartphone.

The revolutionary car vending machine is installed in Spitalfields Market, London. It currently has a Renault Zoe on display that can be bought on the spot. According to a study carried out among 2,000 residents of the United Kingdom, nine out of ten Britons admitted they are bad at haggling, while 79% think “our European counterparts are much better at negotiating a better deal”.

The installation at Spitalfields Market in London was created by Auto Trader, the largest digital marketplace for new and used cars, to illustrate its pre-negotiated, single prices and its transparent pricing offer.

According to data published in the report, 89% of respondents said they find haggling embarrassing and uncomfortable. In fact, haggling over prices (41%) topped their list of anxieties about buying a new vehicle, alongside hidden costs (39%), worrying about making the wrong decision (28%) and having to wait a long time to receive a car after buying it (25%).

Would you buy a car from a vending machine on the spot?

As part of this research, Auto Trader has unveiled a new contactless car vending machine, which offers consumers a no-haggle purchasing option. The bespoke contactless vending machine system installed in London allows purchases of up to €23,000, showing how consumers can “buy and go” without having to worry about negotiating the price, by finding a car and a dealer through Auto Trader.

A team of six engineers spent three months designing and building the contactless car dispenser. A custom point-of-sale system and a key release function were created, along with an integrated payment and door release mechanism.

The installation features a new Renault Zoe by Lookers Motor Group, one of the most sought-after electric cars in the country, according to Auto Trader search data. In the last month alone, almost half a million searches for electric vehicles were carried out on Auto Trader.

The vehicle on display, the Renault Zoe, has a price of €17,660 that has already been agreed with the dealer, meaning drivers don’t have to worry about trying to get the best price. The price reflects the significant discounts buyers can find on new cars with Auto Trader’s pre-negotiated prices.

The popularity of the Renault Zoe shows that drivers are increasingly concerned about the environment. There has been a surprising 60% increase in electric car registrations over the past year. Three quarters of Britons (74%) would consider driving an electric car today, with nearly 4 in 5 Britons (78%) now concerned about their carbon footprint when it comes to buying a new car.

Auto Trader has said that “buying a new car is an exciting experience, but it can often be overshadowed by anxiety about haggling and knowing whether you’re looking at the right price.” “So today we are presenting a real-life version of what you can find on Auto Trader: new cars with pre-loaded, transparent prices that you can drive away today.”

“The only difference is that this Renault Zoe can be bought with just a tap of a card, which tests the appetite of London car buyers for electric cars, as well as a future of more instant purchasing.”