Buying used cars privately

Buying used cars privately Research findings In 2013 6.7m used cars were sold in the UK, of which 2.7m were bought and sold privately. « BCA Used Car Market Report 2013 » Reasons people buy privately 50% say they buy privately to get the best value for their 38% felt they had the knowledge and confidence to buy privately money 23% didn't have 27% say they can't afford dealer prices a vehicle to trade in 16% of people spend between £1,000 and £2,000 when they buy privately - 26% only spend up to £1,000 Concerns about buying a used vehicle privately Buying a stolen vehicle 24% Buying a vehicle that has been written-off 13% Buying a vehicle which has been clocked (the mileometer wound back) 51% Buying a vehicle that you later find has an underlying mechanical fault Buying a vehicle that's still being paid for on finance by someone else 41% Paying more than the vehicle is really worth 34% 29% 333 333 The reasons people sell cars privately To get the most money I could for it - 55% Don't trust car dealers to give me a fair price - 26% Was buying privately so needed to sell privately - 22% 59% of people managed to sell their vehicle privately in just seven days. 32% managed to within four to seven days, and 27% in just one to three days For 57% of sellers, only one prospective buyer came to view the car. 20% of sellers had two viewers Considerations when buying a used car privately Fuel economy 50% Servicing - 20% cost of vehicle tax - 11% Tyre replacement is barely a consideration - 2% Cost of spare parts - 16% * Research conducted online with 2,300 members of the RAC Opinion Panel from 23-30 September 2014 Created by RAC. Visit us at rac.co.uk for more information. This work is licensed under a creative commons licence