New analysis has highlighted the No 1 motive why extra individuals select used vehicles over factory-fresh fashions.
A ballot commissioned by The Motor Ombudsman discovered that greater than half of respondents (58%) mentioned that their major motivation could be to save cash.
That is notably pertinent at a time when shopper budgets stay below stress, with additional will increase looming for family payments, equivalent to council tax, broadband, water, and standing power prices.
Greater than 7.2 million used vehicles modified arms in 2023, in comparison with 1.9 million new automotive registrations, in accordance with figures from the Society of Motor Producers and Merchants (SMMT).
The analysis additionally revealed that 4 in 10 respondents would favor shopping for a automotive that had a number of earlier house owners to assist keep away from bearing the preliminary loss in worth (ie depreciation), which is particularly related to shopping for a automotive from new.
Almost a 3rd (32%) mentioned there’s typically a good selection of automobiles to pick out from throughout the nation when purchasing round, while simply over 1 / 4 of survey individuals (26%) agreed that they’d be capable to check drive and purchase vehicles that had been on the market on forecourts.
When quizzed about a number of the major advantages of shopping for a used automotive from a retailer, reasonably than a personal particular person, by way of a social media advert for instance, almost half (48%) of respondents acknowledged that going to a longtime dealer offered them with the added reassurance {that a} automotive had undergone checks previous to happening sale.
Moreover, 43% of survey individuals wished a security internet in case one thing went improper with their automotive after shopping for it, as they’d have extra authorized rights, and will use The Motor Ombudsman for help in resolving a dispute if the retailer was accredited.
Lastly, the ballot highlighted what kind of automotive would prime their used automotive wishlist for 2024. The overriding majority (46%) would purchase a petroleum mannequin, with these within the 55+ age bracket the most probably to take action (52%).
Round 1 / 4 (26%) mentioned a hybrid could be their most popular selection, adopted by a diesel variant (17%), while one in 10 (10%) would look to get behind the wheel of an electrical automobile (EV).
