The Motor Ombudsman’s recent poll has found that saving money is the primary motivation for consumers contemplating the purchase of a used car in 2024.
As many as 58% of potential buyers cited financial savings over new models as their main incentive, reflecting the ongoing budgetary constraints faced by households amid rising living costs.
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Female drivers and those aged between 25 and 34 years are most inclined to consider a used vehicle to economise, with 63% expressing this view, in contrast to 53% of male drivers and those in other age brackets.
Additionally, 40% of the respondents said they would opt for a pre-owned car to avoid the steep depreciation that new cars typically suffer.
The survey also uncovered that 32% appreciate the wide selection available nationwide, and 26% value the opportunity to test drive and purchase directly from car forecourts.
Meanwhile, 20% wish to bypass the wait associated with custom-built new cars, and many seek the insights from existing owner reviews on vehicle performance and reliability.
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By GlobalDataLegal protection is another factor, with 43% of participants preferring the reassurance of consumer rights when buying from a dealer rather than a private seller.
Nearly 38% would choose to visit showrooms to better understand a car’s history and servicing record before committing to a purchase.
An extended warranty is a key consideration for 34% of those surveyed, offering a safeguard against potentially expensive repairs.
Lastly, a third of the respondents said they would avoid private sellers and favour accredited dealers for their second-hand car purchases.
The Motor Ombudsman chief ombudsman and managing director Bill Fennell said: “Several million used cars change hands each year, and the second-hand market, for some consumers, provides a more affordable and accessible proposition.
“To help steer consumers in the right direction as they embark on their used car buying journey, our handy reference guide has been designed to outline some of the key considerations, from initial research to extended warranties, and to act as a useful prompt for questions to sellers before signing on the dotted line.”
