Most car shoppers have a pretty good idea of what vehicle they are looking for when they start the shopping process. While some prefer the latest technology and safety defenses of a new vehicle, others prefer the affordability of a used one.
A current trend for consumers is cross-shopping for used cars, which involves comparing both new and used cars at the same time. According to Jumpstart Automotive Media, this trend is growing. Cross-shopping for used cars is up 19% when compared to last year. This is for both luxury and non-luxury segments. The jump in the luxury segment alone rose 36% when compared to last year’s statistics. Used cars are starting to rival new cars thanks to their value and solid build.
The survey also asked participants to share what they considered their most important shopping tools. At the top of the list for used-car shoppers was vehicle history, used car values, and financing options. Certified pre-owned shoppers wanted vehicle history, being able to search local inventory, and used car values. New car shoppers stated that searching local inventory, browsing expert car reviews, and researching vehicle information were some of their primary purchasing tools.
With these trends, used cars should start retaining their values for longer. For more information about which used vehicle might best suit your needs, stop by Pollard Used Cars.