Research indicates that many Brits are losing out on an average of £1,600 when selling their cars due to not checking their vehicle's value beforehand.
A recent study has revealed that British car sellers may be unknowingly forfeiting as much as £1,600 on average because they neglect to ascertain the value of their vehicles before putting them on the market. This oversight seems to be widespread, with statistics indicating that 44% of British drivers are unaware of their cars' worth or how to properly check it, leading to frustration among sellers regarding the prices they receive.
The research, commissioned by Autotrader, underscores a lack of awareness and understanding among car sellers; 45% of respondents expressed dissatisfaction with their selling prices, and a quarter attributed their losses to not being informed about their cars' true value. The expert Erin Baker from Autotrader emphasized that failing to check the car's value could equate to missing out on a month's salary after tax for the average individual, highlighting how crucial this step is for making informed selling decisions.
Consequently, the findings urge potential car sellers to take simple yet effective steps to enhance their selling experience, such as researching market prices or utilizing online tools provided by automotive marketplaces. This not only empowers sellers to negotiate better but also helps to optimize the financial return on their vehicle sales, ensuring they do not leave money on the table during transactions.
