Over three-quarters (80%) of automobile buyers say they secured either a very good or great deal on their used automobile despite the common listing price 37% above pre-pandemic levels at £19,254.
The survey by online automotive marketplace CarGurus which surveyed over 1,500 recent automobile buyers found that 1 / 4 (24%) of buyers reported getting an excellent deal while 56% felt they got a very good deal on their used automobile purchase.
The annual CarGurus UK Consumer Insights Survey, which examines British automobile buying and selling habits, also found that fewer than 1% of buyers felt they got a lower than fair deal.
Key reasons for buyers feeling they got an excellent deal include the benefit of process (38%), additional advantages (26%), and price in comparison with initial budget (26%).
CarGurus research also found that UK motorists increasingly want more digitalisation of the buying process with 58% (up from 49% a 12 months prior) reporting they’re open to completing a automobile purchase entirely online. Similarly, 71% of buyers (up from 61% in 2022) cited a preference to handle more of the automobile buying process from home.
The highest preferred online activities include negotiating the value (43%); completing the transaction, payment, and paperwork (41%); arranging financing (37%); and initiating and completing an element exchange (30%). Three-in-four buyers/sellers also reported being open to selling their vehicle entirely online, with 36% ultimately selling to an internet site compared with 39% working with a dealer.
Amanda Symonds, managing director for CarGurus UK, said: “The research is emphatic: UK buyers feel they’re still getting a very good deal although prices and collection of inventory proceed to stay difficult. It’s clear that shopper desire for greater convenience and control is driving this outlook, with respondents citing the benefit of the buying process as the highest reason for satisfaction. This points to a long-lasting shift in consumer expectations as 71% of buyers reported a desire to handle more of the automobile buying process from home for his or her next purchase, up from 61% last 12 months, and greater than half being open to purchasing exclusively online.”
This Article First Appeared At www.am-online.com
