Fuel consumption takes priority for car buyers

Just as the price of fuel is on the increase again, it seems that motorists have already been re-thinking their priorities when it comes to buying their next car, according to British Car Auction’s (BCA) annual Used Car Market Report.

Motorists were asked what sort of car they would buy once the recession is over and the green shoots of recovery have really taken hold. Responses suggest that, even in a more optimistic economic climate, the majority of car owners are planning to remain prudent and resist any temptation to increase their motoring expenses.

BCA’s Tim Naylor commented: “The combination of the recession and high fuel prices has made motorists become a little ‘greener’ in their outlook. It seems the issues of better fuel consumption, lower CO2 emissions and more affordable road tax will come to the fore when deciding what car to buy next.”

Although 19% of motorists intend to buy ‘the same type of car’ next time, a third of car buyers will be looking for ‘better fuel consumption’ and a fifth for ‘lower road tax’. This move to save money is underlined by a wish list of ‘lower CO2’, ‘lower maintenance costs’ and a ‘smaller car’– rounded off by driving a harder bargain on the ‘part-exchange value’.

Fourteen per cent of respondents who previously brought new were considering buying a used car next time. In contrast, just 6% said they would switch the other way and buy new instead of used.

Many car buyers suggested they would opt for a raft of measures and seek to reduce costs in several areas. Women (22%) are more likely to look for ‘a lower road tax’ than men (17%) – in contrast to switching from a new to a used vehicle, favoured by 15% of men compared to 13% of women.

Wealthier car buyers are more likely to focus on ‘lower CO2’ and ‘lower depreciation’ than others, while older car buyers will generally settle for the status quo when their next car change comes round.

Twenty-nine per cent of motorists with cars in the £10,000 to £15,000 price band, said they will go for ‘the best possible part-exchange price’ (almost twice the national average figure). Meanwhile, half of car owners of the most expensive used cars (over £20,000) will seek a ‘car with better fuel consumption’ the next time they buy.

However, BCA is warning that other factors should also be considered when motorists source their next vehicle. “Our Used Car Market Report indicated that whilst car buyers are, of course, heavily influenced by the price, closely followed by the make and model, rather worryingly only 12% appear to be influenced by the insurance group – yet this could be a major cost associated with the vehicle”, continued Tim Naylor.

“And only just over 1 in 5 (22%) said they were influenced by the test drive. Despite the fact that this is a significant financial outlay, it seems that car buyers act on their heart rather than their head much of the time. And that can end up with some expensive decisions!”