Budget conscious Brits choose cars based on price more than anything else

With the new car registrations upon us next month and the sale of new vehicles rocketing*, online car finance specialist Carfinance247.co.uk carried out an independent study** to see what Joe Public looks for in a new or used car.

Their research shows that:

  • two-thirds (66%) of respondents say that affordability is the most important factor;
  • nearly half (46%) rate fuel efficiency as the second most important consideration;
  • nearly a third say the size of the vehicle is key to their choice (33%), as well as the cost of the car insurance (28%).

While both male and female motorists said that affordability and fuel efficiency are the two most important factors for choosing a car, third on the list for men is size (35% compared to 29% for lady drivers). Cost-conscious females, however, cite the cost of the insurance as being in the top three (32% vs 26%).

The three “least” important reasons for choosing a car are:

  • whether it has a digital radio (just 2% say it is important);
  • air conditioning (12%);
  • the colour (15%).

17% of respondents plan to buy a new or used vehicle within the next 6 months.

Ends

* Express and Star newspaper 06.08.13

**Independent research carried out in August 2013 on behalf of Carfinance247.co.uk by Usurv

Contact:

Emily Henshall, Marketing Manager, carfinance247.co.uk, on:  0800 019 7180 or email: emily.henshall@carfinance247.co.uk

About us:

Founded in 2000, carfinance247.co.uk is a privately owned business with offices based in central Manchester. We provide vehicle financing solutions for all financial circumstances such as hire purchase, personal contract purchase, contract hire and other leasing options. No deposit is required and we give you the choice of buying any car from any dealer nationwide. Or, if you prefer, we can supply and deliver any make and model of your choice.

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About Us

About us: Founded in 2006 by entrepreneurs Reg and Louis Rix, Carfinance247 is the UK’s leading online car finance brokerage. Carfinance247 help people secure finance on any new or used car regardless of their credit history and once approved, customers are allocated their very own personal finance advisor to guide them through the process. Based in Manchester and employing over 150 people, Carfinance247 simply aims to secure the most appropriate and cost-effective financial deal for its customers from a large panel of well-known financial institutions

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Quick facts

Their research shows that: • two-thirds (66%) of respondents say that affordability is the most important factor; • nearly half (46%) rate fuel efficiency as the second most important consideration; • nearly a third say the size of the vehicle is key to their choice (33%), as well as the cost of the car insurance (28%).
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While both male and female motorists said that affordability and fuel efficiency are the two most important factors for choosing a car, third on the list for men is size (35% compared to 29% for lady drivers). Cost-conscious females, however, cite the cost of the insurance as being in the top three (32% vs 26%).
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17% of respondents plan to buy a new or used vehicle within the next 6 months.
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