In a move which could save them money on their car insurance, 4.5 million people in the UK are planning to buy second hand cars before the end of August.
It has been revealed by Sainsbury's Finance that the average person expects to spend it £4,487, which is a decrease when compared to September 2008 – February 2009.
As the recession continues, it is thought this is down to people not having enough money to spend of a car.
Steven Baillie, head of Sainsbury's loans, recommends that consumers do their research before selling their car so they can get the best price for it to help finance their new purchase.
He continued: "Homework is key to confidence here; if you know what you should be paying you'll be able to haggle more effectively."
The AA has previously urged motorists to guard their car keys like they would their cash as thieves come up with increasingly ingenious ways to break into vehicles.
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