Price is top consideration for car buyers, research finds

Price is top consideration for car buyers, research finds

Price is the number one consideration for car buyers when deciding on their next purchase, research has revealed.

According to a survey carried out by Carwow, while price was unsurprisingly top of the list, fuel economy in second place and colour in third were seen as more of a surprise. These features ranked higher than factors such as the manufacturer, the quality of the car and how safe it was.

Fuel economy and price making up the top two most important car buying considerations illustrates that ultimately motorists are most concerns about costs, which is natural when making any big purchase. Indeed, car dealers themselves ought to diligently shop around when they are looking to obtain a road risks insurance or motor trade insurance policy - Bollington enables them to review the best quotes available to them, but it is important that a business picks an insurance policy that fits their exact needs and not simply the cheapest one.

According to the Carwow survey, the top considerations among car buyers in order are: price, fuel economy, colour, insurance costs, safety, performance, manufacturer, size, quality and engine size. The study also found that August is the most active time for people to research car purchases, with buyers preparing for the release of the September plates.

Carwow chief executive James Hind: "We were most surprised to discover that performance, brand and design fall someway down the list of top considerations.

“Colour, on the other hand, which barely gets a mention in traditional car reviews, is actually the third most important thing for new-car buyers. This is the kind of information used to make Carwow as absolutely up to date and relevant for our customers, particularly in this most busy period for new car buyers.”