11:07 am, March 31, 2022
Rising used car prices and poor vehicle availability is pushing three-quarters of buyers into buying their next car entirely online to get a better deal.
That’s the findings of new research carried out by What Car?. It quizzed 1,364 in-market buyers – of which 39.44 per cent were looking for a used car – and found 62.64 per cent of used have seen prices increase for models they are currently looking at.
Moreover, 62.34 per cent said they have delayed their purchase until prices drop or look at different makes and models.
Nearly three-quarters (73.29 per cent) of used buyers are also saying they are having to look further afield than previously to find the right car for them.
With difficulty in finding the right car for the right price, 76.77 per cent of used buyers told What Car? they would consider buying their next car entirely online in the hopes of getting a better deal.
Cash remains the preferred option for used buyers with 66.8 per cent looking to buy their car direct, while 21.34 per cent are considering taking out a PCP or a bank loan to finance the purchase.
Steve Huntingford, editor, What Car?, said: ‘Rising used prices and a lack of vehicle availability is causing a growing number of buyers to consider buying their next car online.
‘With this in mind, it is imperative dealers ensure their stock is advertised online and they are quick to respond to requests and messages from buyers.’
