Two-thirds of drivers fear they’ve been “ripped off” when selling their vehicle – because they didn’t know enough about cars.
A poll of 2,000 adults, who have sold their motor during the past five years, found over half (54%) believe they received less than their car was worth when handing over the keys – getting £977 on average.
But 85% of those polled, via OnePoll, said their priority was simply to get rid of their vehicle as quickly as possible.
And this apparent lack of time may explain why a third of those who have sold their car in the past five years didn’t shop around to get the best price for their vehicle.
The research, commissioned by Motorway, found more than one in ten (12%) didn’t even consult valuation guides to find out what their vehicle was actually worth.
A spokesman for the online-only used car marketplace said: “Selling your vehicle can be a headache for many, particularly if you don’t feel confident in your knowledge of cars.
“But there is an easy and simple way to sell your car online for a good price.”
The study also found three-quarters (76%) were daunted at just the thought of what selling their car entails.
As a result, seven in ten consumers actively avoided selling their car, amid concerns that doing so would be a hassle.
And a further 69% revealed they would accept less than the market value for their vehicle in order to make the process easier.
However, 62% admit they have regretted rushing to sell cars in the past – because they received less money for them as a result.
Just one in seven (14%) of those polled said they were “very confident” they got a good price for their car.
Source: Read Full Article