- Brits lose an average of £1,254 when selling to a well-known car buying site*
- Women lose out significantly more than men with an average loss of £1,727 vs £958 for men, once the price of their car has been chipped off further following a visit to the
- Auto Trader has launched a ‘money wasters helpline’ to offer free private valuations and advice and guidance on selling, as well as vouchers for placing free private adverts on Auto Trader
New research has revealed that the instant gratification culture amongst Brits is costing people cash – with the average ‘quick sale’ of second-hand cars meaning sellers are losing thousands of pounds off the value of their vehicle.
The study of 2,734 people, undertaken by research consultancy Acacia Avenue, found that people who sold their car on WeBuyAnyCar.com in the last two years received £1,254 less, on average, than the actual market value of those who sold on Auto Trader*.
Shockingly, women’s car prices are being chipped away further, with an average loss of £1,728 when selling their car on quick sale platform, WeBuyAnyCar.com. That’s an astonishing £770 less than the average male seller, who ‘only’ loses a staggering £958.
There is even a North/South divide when it comes to how much car sellers are set to lose when selling to WeBuyAnyCar.com. Those in the North of England and Scotland could lost on average £684 more than their London counterparts, for the sake of selling conveniently.
In response, Auto Trader, the UK’s largest digital marketplace for new and used cars, has launched a helpline for consumers who have lost significant amounts of money by selling their cars instantly to car buying sites.
For one day only, Auto Trader will open a helpline encouraging motorists to get in touch if they feel they’ve lost out on profits when they sold their car through a quick sale platform.
For those calling the helpline, they will be offered free private valuations and advice and guidance on selling, as well as discount codes for placing private adverts on Auto Trader.
A spokesperson for Auto Trader, said: “The inconvenient truth of choosing convenience over money is that it could lose you thousands of pounds when it comes to selling your car.
“These findings show the importance of knowing your car’s value, highlighting how the briefest of research can help you understand the various options available to you and the varied financial returns.
“Auto Trader offers free market-leading valuations for car owners so they can compare prices for different methods of selling, offering the information to make a decision that’s right for them without the regret of losing significant value from their vehicle.”
The helpline will be advertised outside one of WeBuyAnyCar.com’s Manchester portacabins, throughout Thursday, encouraging consumers to get in touch if they feel they have lost out
on profits by selling their car elsewhere.
To contact the Auto Trader Money Wasters Hotline to obtain a discount code, telephone 0800 233 5511 between 9am – 3pm on Thursday 24th October.