Fewer consumers stuck on the sidelines waiting to purchase a used vehicle
Posted on Friday, February 24, 2012 at 4:36:31 PM
For various reasons, many consumers decide to hold off making a used vehicle purchase. Often it the reason is a culmination of reasons such as the weather, prices, their current vehicle or their inability to attain sufficient auto financing.
However, market research shows that more consumers felt comfortable purchasing a used car in February 2012 than a year ago, reports Auto Remarketing. CNW is expecting pent-up demand in the used-car market to reach 83,500 consumers in February. This is down from the 94,000 consumers searching but not buying a car in January and 92,000 in February 2011.
"The average delay in making an acquisition among those who have postponed a purchase is around 2.4 months, statistically no different than it was in January but down from February 2011’s three months," CNW president Art Spinella told the source.
Consumers searching for a used car should consider diversifying their auto financing search to assist in their purchases.