A recent Harris Poll shows that nearly 70 percent of Americans would think about buying a used vehicle.
Aside from the figure, which was culled from more than 2,000 adult participants, the survey finds 53 percent are likely to purchase a used vehicle at a dealership that sells both new and used vehicles.
Paul Sheehy, owner and used sales director for Sheehy Auto Stores, told Mega Dealer News consumers are drawn to such vehicles because of affordability.
“The number one thing is the affordability gap between the current price of a new vehicle, which I believe on average is closer to $35,000, while the average price of a used vehicle is [$21,000],” Sheehy said. “Payment wise that’s a pretty substantial difference. I think people are looking at used cars as an option, particularly certified.”
Referencing his more than 20 dealerships in the Washington D.C., area, Sheehy noted that 2019 will end as “a record certified year,” adding, “Last month it was almost 48 percent of our used business so it’s a great option.”
“We expect to have a really strong close, particularly the week after Christmas where we can deliver 20 percent of our sales for December in that week,” Sheehy said. “I would suspect that used vehicles would – at least in our company – continue to equal to the new amount of vehicles that we sell or exceed that.”
He believes 2019 could be the first year in which used cars outsell newer vehicles at his dealerships. According to Sheehy, 2019 is also the peak year for off-lease vehicles.
Looking toward 2020, he expects the new car market to see an increase and Sheehy aims to achieve a 5 percent growth in used vehicles.
Although the survey paints a positive picture about used vehicles, it reveals a combined 30 percent would consider buying a car from other sources, including but not limited to another person, a used-vehicle-only business and an Internet-based company.