Survey: Consumers show growing interest in buying a used car

Consumer Reports News: January 07, 2011 08:45 AM

Most consumers are likely to consider a used car for their next ride, according to a new survey by the Consumer Reports National Research Center. Two-thirds (65 percent) of respondents said that they are more likely to consider a late-model used car relative to several years ago. Only 30 percent of consumers reported being less likely to consider a used car. These are among the many findings from the 2011 Car Brand Perception Survey.

The survey focuses on car brand perceptions across seven key purchase factors, though it also provides insight into future purchase intents. The data comes from a random, nationwide telephone survey conducted by the Consumer Reports National Research Center from Dec. 2-6, 2010. The Center collected the survey data from 1,721 adults in households that had at least one car.

From the interviews, 71 percent reported being likely to consider a late-model used car as an alternative to a new car, including nearly half who said they are very likely (47 percent). Gender differences saw more men (75 percent) than women (67 percent) considering used.

The other side of the coin is that 28 percent of consumers reported that they are unlikely to consider a used car.

Used cars provide an affordable alternative to buying new, avoiding the initial year or years of rapid depreciation that can make new cars so much more expensive. Buying used carries certain risks, though the rewards can mean acquiring more car for the money and/or lowering your monthly bills.

See our used-car buying advice, best used-car deals, and list of most reliable used cars.

Jeff Bartlett and Andrew Vogel

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