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Sainsbury's: check value of second hand cars

Tue, 22 Nov 2005

Sainsbury's Bank is urging second hand car owners to ensure they know how much a vehicle is worth before driving it off the forecourt.

The warning comes after research by the bank indicated that between October 2005 and March 2006 around 5.06 million people in the UK plan to buy a second hand car, at the average price of £4,799.

Consumers are therefore advised that in order to get a fair price when the car is resold, careful research into the potential value of the vehicle should be carried out.

Valerie Wood, car purchase scheme manager at Sainsbury’s Bank, said: "A poor understanding of the true value of a vehicle might explain why 47 per cent of people planning to buy a second hand car are only prepared to haggle slightly over the price or not at all."

The bank's new car valuation tool, powered by WhatCar?, can help motorists to understand the potential market value of a second hand motor by assessing factors such as make, model and mileage.

Drivers are also reminded that a revised car insurance policy may be necessary when buying a second hand, rather than a new vehicle.

© Adfero Ltd

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