Women know best when it comes to selling cars
PUBLISHED: 12:01 17 March 2016 | UPDATED: 11:25 21 March 2016
Women are more likely to know what adds value to a car than men, according to a recent survey on the used car market.
The survey by tootle.co.uk, which questioned 1,000 people in the UK who have sold a used car in the last year, also found that a significant proportion of sellers are missing out on getting the best prices for their vehicles because they misinterpret what is most valuable to buyers.
According to data from tootle.co.uk, the most valuable feature a used car can have (aside from the obvious make, age, mileage and condition factors) is a full service history.
More than a quarter of survey respondents didn’t realise that full service history was one of the most valuable features of a used car - though women had greater awareness than men, with 76 per cent of them naming service history as important vs only 67pc of men. More women than men (60pc vs 52pc) also knew a long MoT was a key factor.
Londoners were the least likely to recognise the value of service history, but the most likely to think parking sensors would bump up price, while men were four times as likely as women to incorrectly think that metallic paint would add most value to a used car’s price point.
Overall, more than one in 10 respondents thought having a popular colour would add the most value to their car.
These statistics coincide with the launch of tootle.co.uk’s new online platform, allowing sellers to advertise their car directly to a network of dealers - cutting out the costs of using a car buying service and auction - and getting sellers a better price. Sellers simply create a short profile for their vehicle (which can be done in a matter of minutes from a smartphone) and then it is put out to hundreds of dealers around the UK. By connecting the seller to multiple potential buyers, tootle aims to get the best dealer value for your car in the quickest amount of time.
Al Taylor, CEO of tootle.co.uk, said “Many people don’t realise the value of having a full service history. Dealers can offer up to 20pc less for a car with incomplete or missing service history - or decline to make an offer at all. On the flip-side, having a full service history - especially if it’s from a main dealer makes the car a lot more attractive, as can having six months or more left on your MoT. A full service history and recent MoT are the main reassurances that the car is in good mechanical condition and has been looked after.”
He added: “Our research indicates that men are more focused on the perceived value of gadgets and accessories whereas women are more focused on the value of good car history - which is what will have the biggest impact on price.”