Rising used car prices are pushing more buyers down online route

  • New What Car? survey finds over three-quarters of used car buyers are considering buying a car online
  • Factors for shift in online include rising used car prices and poor availability
  • Survey quizzed 1,364 in-market buyers

Time 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.’

James Batchelor's avatar

James – or Batch as he’s known – started at Car Dealer in 2010, first as the work experience boy, eventually becoming editor in 2013. He worked for Auto Express as editor-at-large and was the face of Carbuyer’s YouTube reviews. In 2020, he went freelance and now writes for a number of national titles and contributes regularly to Car Dealer. In October 2021 he became Car Dealer's associate editor.

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