had had two cars/tenses

[navit]

1. He had two cars before buying this new one. He sold them both at the same time to buy the new one.
2 He had had two cars before buying this new one. He sold them both at the same time to buy the new one.

Are both correct?

He had two cars at the same time. He sold them and bought the new one.

Gratefully,
Navi

[Alan]

Either is acceptable.