36 Years in Business

Car buyers concerned about affordability over environmental impact, study finds

Car buyers concerned about affordability over environmental impact, study finds

Despite the political impact placed on EV uptake, most drivers care more about costs, according to Close Motor Brothers.

Affordability was ranked as main consideration when purchasing a new vehicle by 71% of motorists in the Britain Under the Bonnet report from Close Brothers Motor Finance.

A further 56% care about how economical a vehicle is to run, showing additional interest in cost. Other key attributes include fuel type (55%), engine size (49%), and number of doors (47%).

Close Brothers Motor Finance’s director of sales Sean Kemple said: “With Brexit looming, political and economic uncertainty are undoubtedly having an effect on consumer confidence.

"For those looking to make big-ticket purchases such as a new vehicle it’s understandable that the power is in the purse strings.”

How environmentally friendly the vehicle is was classed as a major consideration for just under one in five (18%) drivers, yet failed to make the top ten.

The report also found that more than a quarter (28%) of drivers wouldn’t consider buying an electric car, with 47% blaming the initial cost as being too expensive.

Other reasons influencing motorists’ decision to not purchase an electric car include, the range being limited (43%), long charging times (36%) and the technology needing improvement (46%).

When buying a car, motorists say the main considerations are:

  1. Affordability (71%)
  2. How economical it is to run (56%)
  3. Fuel type (55%)
  4. Engine size (49%)
  5. Number of doors (47%)
  6. Existing mileage (43%)
  7. Manufacturer (40%)
  8. Safety rating (34%)
  9. Boot size (33%)
  10. Colour (29%)

Request a quote