US$50 to Sell a Car in the U.K.

According to new research released by British Car Auctions, used car buyers are apparently quite content. According to the research, nearly 96 percent were “very and/or quite” satisfied with their used car purchase.

The survey of 2,900 drivers indicated that “word of mouth” is the most popular way of finding a buyer:

• 36 percent relied on word of mouth.
• 15 percent  took an ad out in the classifieds in the local paper.
• 11 percent  advertised in Auto Trader.
• 7 percent put a sign in the car.

Interestingly, only 15 percent of the respondents spent more than $50 to unload their used car.