A 2023 study from Motorway – the UK’s fastest-growing used-car marketplace – revealed that over 4.2 million Brits have an excess car they do not use sitting on their driveway, whilst revealing that more than half of Brits (52%) are unaware of the untapped financial value they have lying dormant at home. In light of this, Motorway has unveiled its top tips to manipulate the used-car market to extract the most value, and avoid common mistakes that negatively affect a motor’s valuation.

Whilst the price of many used cars has remained strong, 2023 saw a realignment toward pre-covid values – research from Motorway additionally found that 41% of the nation actually did not know the true value of their car. For 23% of the nation, the stress of selling a vehicle often proved too much as Brits cited social anxieties as the reason they did not receive a good deal when selling.

The study commissioned by online used-carmarketplace Motorway revealed four in ten (43%) Brits are missing out on getting the best price for their car, by not carrying out simple tasks. Failing to change tyres (37%) and neglecting to buy new floor mats (37%) topped the list of the common mistakes people make when selling their car, which impacts the potential final sale price. Surprisingly, over a fifth of Brits (22%) admit they don’t clean their car interior before selling, while one in ten (11%) don’t wipe down food stains before selling.

As well as cleaning, tasks such as polishing and repairing alloys (33%) or replacing old window wipers (27%) can help to add value to a second-hand vehicle. The research also revealed over a quarter (28%) of UK adults don’t clean the tyres when selling their vehicle, forget to change the oil (35%) and just under a third fail to fix damage to bodywork (32%) or polish the vehicle (32%).

Key Findings:
Excess Cars on Driveways: Over 4.2 million Brits have an excess car on their driveway, with 52% unaware of the financial value they possess.
Lack of Awareness: A staggering 41% of Brits don’t know the true value of their car, highlighting a significant knowledge gap in the market.
Common Mistakes Impacting Value: Our study reveals that 43% of Brits are missing out on getting the best price for their cars due to simple oversights. The top 10 neglected tasks include:
Changing tyres (37%)
Purchasing new floor mats (37%)
Changing the oil (35%)
Polishing/repairing alloys (33%)
Fixing damage to bodywork (32%)
Polishing the vehicle (32%)
Making a small repair (31%)
Filling the tank with petrol/diesel (29%)
Cleaning the tyres (28%)
Changing a wiper blade (27%)