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Finance & Economics

Survey shows Americans’ preferences for next auto purchase

Dec 05, 2019

Customers consider dealerships, selling both used and new vehicles, as the most popular place to buy used cars

Used vehicle

Survey shows Americans’ preferences for next auto purchase. Source: pixabay.com

According to Ally Financial, almost 70% of Americans would consider a used vehicle for their next auto purchase. Nevertheless, they also expressed concerns about their reliability and repair needs, the survey found.

While there's a lot of hype around internet auto sales within the industry, the majority of consumers are most comfortable purchasing at a franchise dealer who is part of the community and where they can ask questions. The challenge is for car buyers to feel more confident about their shopping experience and purchase, and the internet is a great resource for consumers before visiting a dealership
Matthew Arnold, senior regional vice president of Auto Finance at Ally Financial

At the same time, new vehicle owners/renters reliability and warranty concerns were a bigger factor in choosing new vehicles than a desire for having the latest model.

53% of consumers said they would feel most comfortable buying used vehicles at a dealership selling both new and used vehicles. This was much higher than any other category, including purchasing the car from another individual (12%), a used-vehicle-only dealership (10%), and nearly 7 times higher than purchasing from an internet-based company (8%).

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