Will More Consumers Choose Used?
RICHMOND, Va. — If the results of a recent survey are any indication, there may be some good news for the used-car market on the horizon, and female shoppers may be a more promising pool of used-vehicle buyers than men.
When asked about their vehicle-shopping attitudes in light of potential warming in the weather and the economy, almost one-third of consumers said that when their current ride can no longer be driven, they plan on buying a used vehicle, according to a recent survey conducted for CarMax.
Basically, Ipsos Public Affairs performed a telephone survey on behalf of CarMax, interviewing more than 1,000 U.S. adults from Feb. 18 through Feb. 22.
The poll asked the respondents the following question: "As the weather and the economy both show signs of possible thawing, which of the following statements best describes your attitude toward shopping for your next car?"
Given seven possible options, 30 percent of respondents said, "I'll wait until my car doesn't run anymore, then I'll buy used."
Interestingly enough, women were more likely to pick this option (34 percent did so) than men (only 26 percent).
Meanwhile, 23 percent of all respondents chose "none of the above/not applicable" when asked the poll question.
Almost one-fifth (18 percent) claimed "I bought a car this past year despite the recession," and 13 percent said "It's still too early. I'm nervous about spending that kind of money."
Continuing on, 7 percent chose the "I am ready for a new car but I will buy used to be smart" option, and 7 percent picked "I'm doing my research online to find the right car to purchase."
CarMax said that 2 percent of respondents said "I'm looking for something with fewer bells and whistles to keep the cost low."
"Buying a used car is a smart way to spend in any type of economy," suggested Tom Folliard, president and chief executive officer of CarMax. "Consumers can save thousands of dollars and still get the car they want for less than they expect."