Sainsbury's Bank has launched a free online valuation service for customers planning to buy or sell second hand cars.
The bank advises people who are considering buying a second hand car to do some research into the potential value of the vehicle they wish to buy to avoid losing out.
Research by the supermarket bank found over five million Brits are planning to buy a second hand car and the average price they are prepared to pay is around £4,799.
But Sainsbury's also found buyers were often unprepared to haggle to get a better deal on the second hand car of their dreams.
Car purchase scheme manager at Sainsbury’s Bank, Valerie Wood, said: "Before selling or buying any car, it’s important to have a good understanding of its true value.
"This will help ensure that you obtain or pay a fair price and will help with any haggling that you do.
"A poor understanding of the true value of a vehicle might explain why 47 per cent of people planning to buy a second hand car are only prepared to haggle slightly over the price or not at all."
The bank's car purchase scheme also offers customers flexibility when it comes to car buying, allowing them to get the best price on their ideal car.
Sainsbury's Bank is offering car buyers a range of festive offers on its services until December 31st.
Details can be found on the bank's website.To read more about Banking News, click here.
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