Younger car buyers aged 18-24 years old take less than two weeks to search for and buy a new car – but those aged 45 and over spend more than six weeks reaching a decision.
The research has been revealed in a study by eBay Motors Group, which clearly identified the link between time spent and the buyer’s age.
The average time spent searching for a new car is 40.5 days, or just over five weeks.
“A third of all purchasers take six weeks or longer,” said eBay Motors’ Dermot Kelleher.
Male and female car buyers are evenly matched, taking 41 and 40 days respectively.
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So why do youngsters take so much less time to buy a car? It’s either because of life events or the simplicity of the deal, said Kelleher.
“Customers under 25 spend less than two weeks searching with many being first time buyers without trade-ins to sort out.
“Nearly two-thirds of buyers under 35 say purchases are driven by imminent life events, including becoming a parent or needing a car for school-age children.
“These buyers are in a hurry and typically spend less than a month searching for a car.”
Time taken searching for a new car
- 18-24 year olds: 12 days
- 25-35 year olds: 32 days
- 35-44 year olds: 39 days
- 45 and over: 46 days