Used Car Buying: Motivations and Needs

Research published recently by the Motor Ombudsman involving 2,050 UK driving licence holders sought to understand why people buy used cars, where they are from and what they are looking for. 

Over half (58%) said their primary motivation would be to save money rather than buy a brand-new equivalent model. While the cost of living crisis has placed additional pressure on budgets for some people, the lower costs of a used car than a new one will inevitably be a key factor for many buyers. 

Having decided to buy a used car, customers' motivation on where they would buy it from is primarily centred on certainty and peace of mind. 

Nearly half (48%) of respondents felt that going to an established brick-and-mortar seller reassured them that a car was likely to have undergone rigorous checks before going on sale. A third said that they would steer away from a private individual. 

In addition to the reassurance that a physical dealership offers, there were some other vital factors buyers value. Here are their top three; 

1. 43% of survey participants wanted a safety net if something went wrong with their car after buying it, as they would have more legal rights than if they had sourced the vehicle via a private seller.  
2. 38% felt they would have a greater opportunity to view and understand a car’s history before purchase, including its servicing record and accompanying documentation. 
3. 34% said that they would often be able to purchase an extended warranty agreement to help safeguard them from the burden of costly mechanical or electrical failures, should these occur later down the line. 

Dealers should pay attention to the importance of these three factors in their marketing and dialogue with customers. In the case of extended warranties, dealers should be asking themselves if they offer an extended warranty option proactively; after all, over a third of buyers want one. 

Interestingly, given that peace of mind is essential to so many used car buyers, it might be worth stressing the risk of a private purchase as well as promoting the reassurance of a physical dealership. 

The Which? website gives potential customers the following advice; 

You have fewer rights when buying from a private seller because parts of the Consumer Rights Act don't apply. But, the seller must: 

Accurately describe the car. For example, an ad must not say 'one owner' when its had several. 

Not misrepresent the car. For example, tell you something which isn't true, such as telling you it hasn’t been in an accident when it has.