6:41 pm, May 18, 2020
Users of public transport who are nervous about the risk of coronavirus on buses and trains could effectively create a new sector of the used car market, says Startline Motor Finance.
Chief executive Paul Burgess pointed to a recent Ipsos Mori survey of 1,066 British adults, which revealed that 61 per cent would be unsure about using public transport as they start to return to work.
‘Whether they use masks or other PPE, there is going to be a proportion of people who, understandably, are unhappy about the risks associated with using public transport over the coming months or weeks but still need to get to work.
‘Anecdotally, we are starting to hear stories of some of those people approaching dealers to instead buy cars as an alternative because it provides them with a clean, sealed, personal space in which to travel. The prime minister even mentioned cars as a preferred mode of transport.’
And Burgess pointed out that it would probably be a mistake to think that these new buyers would only be interested in vehicles at the lower end of the market.
‘All kinds of people with all kinds of incomes use public transport, especially in major cities,’ he said.
‘From conversations we are having with dealers and others, we believe that the core market is likely to be superminis in the £5k-to-£8k bracket.
‘Consumers are probably looking for relatively up-to-date, reliable and comfortable daily transport that fits in with any potential Clean Air Zone requirements.
‘We’ve been giving some thought to how motor finance helps enable this. Some of the key ideas are based around being able to arrive at a monthly payment that is comparable to what the average individual was paying for their public transport or even less, although this may not be applicable to all buyers.’
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