Are more young people buying used cars in light of Brexit?

Whatever your view on Brexit, it’s fair to say that it’s not been the ideal time for the majority of the British car industry. The entire process has been shrouded in uncertainty, and that instability has been causing a lot of ripples within the sector. It’s not just the motor industry itself feeling the pinch, either; a recent study suggests that Brexit may be pushing younger motorists towards buying used cars in online car auctions, just like the ones we host here at RAW2K. So, what’s behind the trend?

What does the research say?

While experienced drivers tend to prefer buying brand new cars to replace their old motors, this trend doesn’t always hold true for younger or less experienced drivers. They’re often less confident, and their budgets are generally smaller too. This means that younger people have often leaned towards buying used cars in the past, but this number seems to be increasing over time. According to a recent survey, now almost half of car buyers aged between 22-30 are likely to choose a secondhand car, whereas only 38% said that they would prefer to buy a new car. This stands in stark contrast to most of the other older age groups who were surveyed, the vast majority of whom said that they’d prefer to buy a brand new model over a used, seized or salvage car.

So, where does Brexit fit in? Well, of the young people who were surveyed, 38% of them said that Brexit had an actively negative impact on their car-buying decisions, with 22% of respondents going as far to say that it was a key factor in their decision to buy a cheaper car. Another 22% said that it was enough to put them off buying a car altogether.

What are the options for buying used cars?

Though many people may well prefer to buy new where they can, modern pre-owned and used cars are still perfectly capable of giving their owners long years of trustworthy service, as long as they’re properly looked after. And you probably don’t need us to tell you that we’ve got a huge range of used, seized and salvage cars available in our very own online vehicle auctions here at RAW2K. We stock models from a wide range of globally-recognised brands, allowing buyers plenty of choice when it comes to buying their new car, whether they’re planning to use it for long-distance commuting or simply as a weekend city runaround.

Choosing from our online car auctions also helps solve another pressing question for many buyers: when is the best time to buy a new car? While the majority of car dealerships are having to adjust their prices to account for Brexit, you can always expect fantastic prices from us here at RAW2K. As to when’s best to buy - that’s all up to you! The process has never been simpler, too. All you have to do is search, sign up and start bidding today. The range of makes and models at your fingertips include cars by Renault, Volkswagen and Ford - so why not take a look around our site, and see what you can find?