KBB.com survey: New vs used pricing impacting buyer decisions
A recent KBB.com Market Intelligence Quick Poll has found that the current flattening of price differentials between new and used vehicles is convincing more respondents to consider stepping up to a new model. Asked directly whether today's higher used-car prices have influenced their decision, 53 percent of KBB shoppers who took the poll said "yes" while 23 percent said "no." Of the remaining 23 percent that had previously formulated hard opinions on the matter, 10 percent were committed to purchase a new vehicle regardless of price while 13 percent remained resolute in their decision to buy used.
This dollar dilemma wasn't the only thing on the minds of potential buyers pondering the new vs used question. At a time when the average price of a gallon of gasoline still remains perilously close to $4 in many parts of the country, respondents in a separate KBB.com Quick Poll proved less inclined to be swayed by the lure of a new vehicle that would offer significantly better fuel economy. Only 44 percent indicated that factor was at least an influential consideration while 56 percent did not find it an issue.