Could women be getting more than they bargained for with a used car?

Women could be putting themselves at more risk than men when it comes to buying a used car, according to Experian, the global information solutions company.

In a recent consumer survey by Experian looking at the factors influencing the choices made by used car buyers, women were identified as being more likely to buy an older car, usually over three years old, and are also more likely to buy from a private individual.

However, Experian has found from previous research that women are less likely to protect themselves by checking out the status of a used car before buying it. This can be done through services, such as Experian’s AutoCheck, which can give car buyers information on a vehicle’s status and could materially affect the car’s value or the consumer’s decision to buy. The information available includes any outstanding finance, whether it has been written off, reported stolen or has any mileage anomolies.

Kirk Fletcher, Sales Director of Experian’s Automotive division, said: “The survey found that price is more of an influencing factor for women than it is for men when it comes to buying a used car. They are more likely to have bought an older car and paid less for it than men. Also, in terms of deciding where to buy a used car, the range of cars to choose from is more important to women, whether they are searching through a used car magazine or a dealer’s forecourt.

“It could mean that women have not yet decided on the specific car they want and may be swayed more by what they consider a bargain. Men, on the other hand, place more importance on make, model and brand and are likely to pay more for the specific car that they want. Again, it could mean that they are perhaps more likely to have already decided on the particular car they want before going out to find it.

“Furthermore, the research found that female used car buyers are more likely to have purchased a used car within the last three years (59 per cent of women compared to 50 per cent men). It could mean that men are either more likely to hold on to their cars for longer or to have bought a brand new car in the last few years.”

The survey has revealed that of those who have bought used cars, men are more inclined to buy used cars less than a year old (20 per cent of men compared to 12 per cent of women) and more likely to spend £8,000 or more (31 per cent of men compared to 20 per cent of women). However, they are also more likely to buy from more reputable and trusted sources, such as franchised dealers (41 per cent of men compared to 33 per cent of women), who tend to run Approved Used Car Programmes, giving their customers peace of mind. Furthermore, men who do buy privately are more likely to carry out a vehicle status check to protect themselves from fraudsters.

Kirk Fletcher said: “Most male used car buyers tend not to take as many risks and are willing to pay more for the right make, model and brand. Women, however, are more concerned about finding a bargain and while they may carry out thorough research on a range of cars and offers that fit their budget, they are more likely to take chances with the status and provenance of the car.

“Our AutoCheck statistics reveal that only 30 per cent of the used car buyers that check the status of a vehicle before buying it are female, suggesting that women are more at risk of becoming victims of fraudsters. And, with women being more likely to buy older cars and buy them privately, they really need to take more steps to protect themselves. The older the car, the more likely it is to have a hidden history attached to it, which means that carrying out a vehicle status check, such as AutoCheck, becomes increasingly important when buying an older used car.”