CARPROOF Vehicle History Reports reveals what consumers are thinking when buying a used car
LONDON, ON, May 30, 2013, – Vehicle history reports play an important role in the used car buying process, as do experiences such as taking a test drive and even just sitting in the vehicle, a study by CARPROOF Vehicle History Reports suggests.
Last year, CARPROOF, Canada’s most trusted vehicle history report provider, commissioned a study by BlueGuru Consulting, a market research firm based in Toronto, to study the consumer experience throughout the used car buying process. This research project revealed a number of interesting insights into what consumers think and how they feel when they are looking to buy a used car.
First and foremost, the study reveals that consumers value the information found within a CARPROOF vehicle history report and it influences where they shop. Sixty per cent of respondents say they place more trust in a used car dealer or seller if they offer vehicle history reports and the same number of people show a preference to sellers that provide a vehicle history report. Vehicle history reports also help car shoppers complete their purchase with peace of mind – 51 per cent of those surveyed say vehicle history reports help restore their confidence in the used car buying process.
According to the research study, the best part about shopping for a used car is getting behind the wheel. Eighty-one per cent of people say taking the car for a test drive is exciting and something they anticipate. Similarly, just sitting in the car and getting a feel for the vehicle came in second as 71 per cent of people say this brings about positive feelings and happiness.
On the other end of the spectrum, 60 per cent of car shoppers experience negative emotions when it comes to negotiating a price with a dealer and 51 per cent feel confused or helpless about setting a budget for their purchase. Not surprisingly, respondents say they are least excited about working through financing options – 66 per cent of people say this step is confusing and they feel anxiety when thinking about it.
This used car buying research study reveals that consumers certainly experience a range of emotions during the car shopping process. Car sellers can help overcome any negative feelings by providing buyers with as much information as possible throughout the buying transaction and by always providing a CARPROOF vehicle history report.
CARPROOF, a unit of IHS Markit (Nasdaq: INFO), is a world-class data company that creates insight through information for the automotive industry. Offering solutions in vehicle history, appraisal, valuation and more, the CARPROOF name is synonymous with trusted, impartial and comprehensive used vehicle data. CARPROOF’s products are used by dealerships, vehicle manufacturers, consumers, major auctions, governments, insurance providers and police agencies across Canada, to help users buy, sell and appraise vehicles with full transparency. Based in London, Ontario and founded in 2000, CARPROOF has been named one of Canada’s 50 Best Managed Companies, and was also honoured with Deloitte’s 2013 Technology Fast 50™ and Fast 500™ awards. For more information about CARPROOF, visit www.carproof.com.
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