According to a recent study, Britons change their cars almost twice as often as the European average. The study surveyed drivers from eight European countries and found that 58% of UK drivers shop for a used car every one to three years, while 27% swap their vehicle every four to six years. In contrast, less than 30% of drivers across Europe buy a second-hand car every 12 to 36 months, with 36% buying a replacement vehicle every four to six years. Only 7% of European motorists wait seven to ten years before purchasing another car.
This means that more than half of UK drivers are likely to change their vehicles at least twice before the ban on the sale of new petrol and diesel cars in 2030. The study was conducted by CarVertical, a vehicle history checker provider, and polled 3,000 drivers across seven European nations as well as the UK.
Apart from the UK, the study found that drivers in Poland are the second most likely to buy their next used car within one to three years of purchasing their current vehicle, with 35% of Polish drivers making changes within this timeframe. In France, over a fifth of motorists wait between seven and ten years before replacing their current car.
The rise in popularity of motor finance, particularly Personal Contract Purchase (PCP), also contributes to frequent car changes. Drivers who opt for new cars through PCP deals are more likely to switch vehicles every three years, which is the most common contract period for finance deals. Vehicle leasing also leads to more frequent car replacements compared to outright purchases.
According to car expert Matas Buzelis from CarVertical, Britons have a higher frequency of car changes compared to their European counterparts. He suggested that the abundance of cars in the UK’s used car market allows for a smooth transition to accommodate changing circumstances or a shift towards greener models. Buzelis emphasized that it is crucial for people to have a comprehensive understanding of any car they are interested in to avoid overspending on damaged vehicles or falling victim to fraudsters.
Additionally, CarVertical identified certain models that sell faster than others in the UK’s used car market. Skodas, particularly the Kodiaq SUV, are the quickest selling used cars, with an average selling time of just 19.5 days. The Skoda Karoq SUV ranks second in the fastest-selling category. On the other hand, the Porsche Boxster takes the longest time to sell, averaging about 48.4 days.
It is important to note that AutoTrader, the nation’s largest used car marketplace, provided different data regarding the model with the shortest selling time in the UK. According to AutoTrader, BMW’s X1 compact SUV sells in just a week and a half on average. These discrepancies could be attributed to different datasets and market variations.
Overall, the study highlights the frequency of car changes among UK drivers and the differences compared to their European neighbors. The information also sheds light on the fastest and slowest selling used car models in the UK.
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