June 26th 2023.
Do you know how much your car is worth? You might be surprised to discover it's more than you think! Used car prices have shot up over the past year, and the car in your driveway might be worth more than you expect.
An exclusive survey for Cazoo found that over a quarter of drivers had no idea of the value of their car, while 17% didn't even know if it had gone up or down in value since they bought it. What's more, more than half of those surveyed didn't realise that used car prices had increased by more than 30% since 2020.
Of the drivers who got their car valued in the past year, two-thirds were shocked by the result. Glaswegians were the most surprised, with almost 88% admitting they were taken aback. Norwich and Belfast also had high numbers of people who were stunned by the value of their car.
When it came to actually selling their car, nearly half of those surveyed had done so in the past five years. Of these, 59% felt they had got a fair price, and 28% said they had got more than they expected. The 18-29 age group was the most likely to be happy with the price they received, while the over-60s were the least satisfied.
When it came to spending the extra cash, most respondents said they saved it or put it towards a new car. However, 10% treated themselves or their family to a holiday, 6% splurged on a special gift for a loved one, and 6% used it to fund a school trip for their children.
So if you've got a car sitting in your driveway, why not find out how much it's worth? With Cazoo, you can get an instant online valuation just by entering your reg number and answering a few questions. You could even sell it directly to Cazoo and have it delivered right to your door. You might be surprised at how much you can get for your car – so why not give it a try?
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