UK consumers are increasingly looking online at the start of the car buying process, using this time to research prices, specification and models.
This is according to a survey from Close Brothers Motor Finance, which found that this year 1.5m more people checked third-party websites such as AutoTrader and Motors.co.uk than the previous year. One in 10 respondents said they checked online auction sites such as eBay and Gumtree. The same proportion said social media was a key part of how they researched their next car.
Go deeper with GlobalData
Results also revealed that 91% of all car buyers said they had done some research before coming into to buy the car, rising to 96% for consumers under 35.
Despite the growing popularity of online research, Close Brothers found that the number of consumers buying through a dealer has remained consistent. Three quarters (76%) of respondents bought their car through a dealer, dropping from 78% last year.
Dealers were also ranked as the most trusted option for customers looking for advice – particularly the case for those buying alternatively-fuelled and electric vehicles. Three quarters of respondents who bought a car from a dealership said the dealer provided them with ‘expert knowledge’ and ‘good advice’. This rose to 81% of AFV and EV buyers, potentially with a longer list of questions about the newer technology.
Some 57% of customers said going to a dealership for advice saved them time that they would have had to spend researching themselves, while 83% said dealers could pinpoint their requirements.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataSean Kemple, director of Sales at Close Brothers, said the internet does not necessarily pose a threat to dealers: “It plays a key role in the customer journey, but the more the customer is swamped with reams of information, the more they will continue to rely of the advice of dealers to decipher it all.
“A customer using the internet as their main source of information will research their vehicles right down to the finest details, not just in what they should be paying for it, but how they want to pay, how far they will need to travel to buy it, extras, mileage, the list goes on. Consumers are increasingly aware of the value they can get for their money, rather than just being concerned about price alone.”
