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A study by Motorway, the used-car marketplace, reveals that 6.3 million Brits have accepted a bad deal when selling their car. Those accepting bad deals did so out of convenience, ultimately losing them money from the sale. What’s more, 3.5 million Brits regretted selling their car because the sale was poorly researched and did not achieve the best price possible.
Ease and convenience are often a key driver for any sale, with many car owners going directly to an instant buyer or their local dealer, or they’ll make a quick private sale transaction on a classified site. 7.8m Brits reveal they only go to one dealer when it’s time to sell, accepting one person’s opinion valuation and sale price.
Once on the forecourt, car owners often accept the first offer, with more than a third (37%) confirming they are intimidated by the haggling process altogether, putting them off getting the best price for their vehicle. More than a quarter (27%) of those surveyed said they lacked the negotiating skills to get the best price, whilst 23% revealed social anxieties were the reason they did not attempt to negotiate a higher figure.
Surprisingly, 41% of car owners don’t know how much their car is worth, which makes negotiating the best price nearly impossible.
Alex Buttle, Co-Founder of Motorway, which commissioned the research, said: “Selling your vehicle can be daunting for many, particularly if you don’t feel confident or knowledgeable about cars, but there is an easy and simple way to sell your car online. At Motorway, our dealer network matches each seller with the dealer willing to pay the most, in as little as 24 hours, for free. And with free home collection and fast payment, we take all the hassle out of selling for a great price.”
For an instant free car valuation, visit Motorway.co.uk.
We sold our car 3 years ago and because we were not strong enough to haggle l am sure we lost money on the sale of the car. It still. makes me angry now.