Fancy treating yourself to that something you’ve had your eye on for ages? Or maybe giving a loved one something special, or paying off your child’s university fees?
Well, if you’re a car owner, it could happen because that motor sitting outside your house right now might be worth more than you think.
Used car prices shot up during lockdown, and they’re still riding high today meaning selling your current model could be the answer to your prayers.
Do you know how much your car’s worth? Even though it’s so easy to get an online valuation nowadays, an exclusive survey for Cazoo discovered over a quarter of drivers (26 per cent) have absolutely no idea of the value of theirs!
Of the 2000 car owners surveyed, 17 per cent also had no idea whether their car had gone up or down in value since buying it – even though it’s probably their most valuable asset after their house.
They also weren’t clued in on rising resale prices, with more than half not knowing that used car values have gone up by more than 30 per cent since 2020.
If you’ve got a car sitting in your driveway, you could be sitting on a nice little gold mine. Of those who’ve taken the plunge to get their car valued in the past 12 months, a staggering two thirds were shocked by how much they could get for their car.
Most likely to be stunned were Glaswegians as an astonishing 87.5 per cent admitted they were surprised by the amount.
Norwich ran a close second with more than four in ten people left in shock, followed closely by those in Belfast, Nottingham and Brighton. But how does this measure up to those who actually have sold a car recently?
From those surveyed, nearly half had sold a car in the past five years. Of these, nearly six in ten felt they’d got a fair price while an impressive 27.5 per cent were stunned to get more than expected.
Youngsters aged 18 to 29 were most likely to be happy with the total received, with over-60s being the least enamoured.
All in all, the people of Norwich came top of the places most likely to have gotten more than they expected, closely followed by London, Nottingham and Cardiff.
So, what to do with the money?
Curious about what respondents did with all the extra dosh they received? Well, most saved it or put it towards a new motor.
But others had more fun ideas. One in ten treated themselves or their family to a holiday while 6.3 per cent splurged out on a special gift for a loved one.
Paying for their children’s education was a popular choice too with one in 20 using it to fund university fees and slightly more putting it towards a school trip.
However, ten per cent admitted to spending it on themselves, splashing out on designer clothes or something special they’d wanted for ages.
So why not see how much your car is worth and maybe join them?
How can I find out how much my car’s worth?
Discovering your car’s value has never been so easy. You can get an instant online valuation with Cazoo.
Enter your reg number, answer a few questions (such as the car’s mileage and service history), press the button and the price will pop up.
Even better, with just a few more clicks, you can sell it directly to Cazoo without leaving your living room! You can also use the valuation to part-exchange your car for another one from their site and even have it delivered right to your door.
Click HERE to find out how much your car is worth – you may be surprised!
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