CarMax: Used Buyers Pick Quality Over Price
For the second year running, quality continues to be the most influential factor for used-car buyers over price, according to CarMax.
The company completed a recent survey that asked consumers to choose which of the following factors most influenced their car buying decisions: quality, price, safety, resale value or environmental factors.
CarMax’ findings showed that more than double the amount of respondents chose quality over price as the most important factor..
Also, as quality increased by 8 percent year-over-year to 45 percent, both price (22 percent) and safety (15 percent) fell in importance for consumers, 6 percent and 7 percent, respectively.
Commenting on the results, Tracy Hanson, Nashville region vice president of service operations, said, “Choosing a vehicle that balances high quality with a fair price provides the value that consumers are looking for.
“It’s why our vehicles go through a rigorous inspection and are thoroughly reconditioned. Our customers can buy a used car for less money than a new vehicle without compromising on quality,” Hanson added.
With quality out in front, and price and safety following behind, resale value (7 percent) and environmental or green factors (6 percent) rounded out the list of the most important factors to consider when purchasing a vehicle, according to the company.
CarMax also culled out the numbers specific to men and women. According to the survey results, 53 percent of men and 37 percent of women chose quality.
Furthermore, resale and environmental factors were least important, at 7 and 6 percent, respectively.
The survey was conducted by Ipsos Public Affairs on behalf of CarMax.
The national, random sample consisted of more than 1,000 U.S. adults who were interviewed by telephone during October 6–11, 2011 and August 19–22, 2010.