Saturday 26 September 2009

Fuel economy & low taxation top precedence for car buyers (UK)

Fuel consumption and low tax are moving up the priority list for car buyers, according to a new report by British Car Auctions.

In the BCA's Used Car Market Report published this week 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.

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'.

14% of respondents who previously brought new were considering buying a used car next time. 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.

BCA's Tim Naylor said: '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.' 

'Only 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!'

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