Customer satisfaction high despite higher prices

Over three-quarters (80%) drivers believe they got a good deal on their used car purchase despite prices still averaging 37% higher than they were before the pandemic.

A CarGurus survey of over 1,500 recent car buyers and sellers found that a quarter (24%) of buyers reported getting a great deal while 56% felt they got a good deal on their used car purchase.

Fewer than one per cent of buyers felt they got a less than fair deal.

Key reasons for buyers feeling they got a great deal include the ease of process (38%), additional benefits (26%), and price compared to initial budget (26%).

Meanwhile, 58% (up from 49% a year prior) reported they are open to completing a car purchase entirely online. Similarly, 71% of buyers (up from 61% in 2022) cited a preference to handle more of the car buying process from home.

Amanda Symonds, managing director for CarGurus UK, said: “It’s clear that shopper desire for greater convenience and control is driving this outlook, with respondents citing the ease of the buying process as the top reason for satisfaction. This points to a lasting shift in consumer expectations as 71% of buyers reported a desire to handle more of the car buying process from home for their next purchase, up from 61% last year, and more than half being open to buying exclusively online.

“This research shows that dealers and private sellers who continue to focus on providing an easy and transparent experience for buyers stand to benefit, especially as the rising generation of car buyers in Generation Z report wanting to do more online at an increased rate of 82%.”