Motorists favour used cars due to budget constraints

By automotive-mag.com 2 Min Read

When buying a second hand car in 2024, 58% of consumers’ primary motivation would be saving money, according to The Motor Ombudsman’s Opinion Matters poll of 2,050 motorists.

Rather than buying a brand new equivalent, budgets and household bills would influence consumers to buy a used car.

Bill Fennell, chief ombudsman and md at The Motor Ombudsman said: “Several million used cars change hands each year, and the second hand market, for some consumers, provides a more affordable and accessible proposition.”

Four in ten respondents states they would prefer buying a car that was previously owned by at least one person prior to avoid the initial loss in value associated with buying a new car. In addition, 20% would hope to avoid waiting for their vehicle to be built and delivered.

Showroom visits are important to one in four buyers. Showrooms allow buyers to familiarise themselves with the car’s history through its servicing record or any previous owner reviews indicating performance and reliability.

When buying a used car, reassurance that checks have been completed are important and 48% of buyers would prefer to entrust an established bricks-and-mortar seller with this responsibility.

If these buyers were to run into an issue, there would be more reassurance than there would be if the vehicle was purchased from a private seller. The poll reflects this as 43% have already considered access to legal rights and 34% have highlighted the opportunity to purchase an extended warranty agreement.

Share This Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *