Reliability and higher running costs are the top reasons for selling their motor according to a new survey by Carwow, the online car-changing marketplace.
Nearly eight out of 10 respondents (78%) cited reliability as the biggest reason for changing their cars, while increased running costs (71%) came a close second on their list for choosing to sell.
Despite being a nation of vehicle enthusiasts, where 63% of motorists admitted loving their current car, most owners are willing to break-up with their beloved motor if running costs increase significantly.
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However, more than a third (36%) say that an expanding family would make them consider selling their car, while 26% like to keep an eye on the odometer and would consider selling when the mileage is too high. Finally, drivers don’t like to be pressured into moving on from their motors, according to the research by Carwow. Just 2% would sell a car because friends or family are embarrassed by it, and only 4% believe you should get rid when you get divorced. Once drivers have decided to change cars, people don’t hang about when it comes to selling. 44% sold their car within one month of deciding, and nearly three-quarters (74%) had successfully sold their car within a maximum of three months. |
Some 18% of all new cars sold in February were electric, according to New AutoMotive analysis of data from the Driver and Vehicle Licensing Agency. Over 14,000 electric vehicles were purchased in the UK in the second month of 2024. Year-on-year EV sales grew by 28% in February. The jump in EV sales comes following the introduction of the UK’s Zero Emissions Vehicle mandate on 1st January, which has increased the availability of electric cars. |
John Rawlings, Consumer Editor at Carwow, said, “From increased running costs to expanding families, there are many reasons why drivers might decide that it’s time to part ways with a beloved car.
“It can also be an emotional time for many, much like breaking-up with a long-term partner. Once you’ve decided to sell, changing your car should be a quick and painless process. Our research shows drivers like to get rid of their old cars within the first few months, which is why choosing the right way to sell is important plus helps you achieve the best price.”
There’s more bad news for motorists today, with the average price of petrol up by 4p a litre in February while diesel shot up by nearly 5p, making for the biggest monthly rise in five months, data from RAC Fuel Watch shows.
Unleaded went up from 140.75p at the start of the month to 144.76p by the close, adding more than £2 to the price of a full tank (£77.41 to £79.62). Diesel jumped from 148.53p to 153.22p (4.7p) increasing the cost of filling up an average 55-litre family car by £2.60 to £84.27.
