More than 70% of consumers purchased a car for reasons based on need rather than want, according to an AutoTrader.com “Shopper Frame of Mind” survey.
Among events triggering “need-to-buy” situations are accidents and breakdowns involving previously owned vehicles; lifestyle changes such as parenthood; new commutes to work; a new driver in the family and a new job.
The study polled more than 1,500 recent vehicle purchasers. Supplementing that was a survey of over 300 site visitors on what they bought and why.
Shoppers are showing an increased interest in luxury cars, especially those on the pre-owned market, says Rick Wainschel, AutoTrader’s vice president-automotive insights.
“This is likely fueled by the trend of consumers who are shopping for new, non-luxury sedans cross shopping near-new luxury sedans, as these vehicles fulfill similar consumer desires at similar price points,” he says.
Of particular shopper interest are certified pre-owned vehicles that undergo inspections and are sold with warranties.
