A new study reveals that 50 per cent of Australian drivers don’t consider themselves knowledgeable about cars, a subject which is crucial when buying or selling a used vehicle.

The research, which was undertaken by YouGov and commissioned by Autotrader, also found that being prepared builds confidence.

To help ensure vehicle owners are prepared, Autotrader has introduced a vehicle history check and pricing advisor to its platform. Using these features, customers can quickly check the history of the vehicle including prior servicing and repairs, as well as any collisions. The pricing advisor tool provides a third-party assessment of the vehicle’s value based on a variety of independent factors.

Autotrader’s Head of Motors Richard Dicello said Australia has long been divided between those who are ‘car people’ and those who aren’t.

“Our mission at Autotrader is to help Aussies get a fair deal when purchasing a second-hand vehicle and make the overall experience a win-win for both the buyer and the seller,” Mr Dicello said.

“We’ve enhanced our offering to level the playing field between those who are car people and those who aren’t to make sure that everyone looking to buy or sell a vehicle on our platform is armed with tools, knowledge and information to boost their confidence and ensure they walk away feeling satisfied they’ve achieved a great deal.”

The survey shows that 81 per cent of drivers who are “very” (29 per cent) or “somewhat” (52 per cent) confident when looking to buy a second-hand car agree they got a “great” or “fair” deal the last time they made a purchase. This is compared to the 17 per cent who are “not very” (14 per cent) or “not at all” (3 per cent) confident.

To further educate and empower Australians in their buying decisions, Autotrader enlisted the support of a behavioural psychologist Dr Tim Sharp.

Dr Sharp said there are three helpful tips to build confidence and get a fair deal:

1. Do your research – know what you are looking to buy, what the value and history of that product are.
2. Practice Negotiation – what is the price you want to pay? what is the price you are willing to pay?
3. Imagine a successful outcome – what do you want to achieve? what steps do you need to take to get there?

Finally, when it comes time to “seal the deal”, don’t let negotiation get in the way.

The research shows that 64 per cent of drivers feel uncomfortable in haggling and negotiating about price.

However, 79 per cent said they would be more confident when buying a second-hand car if they were given insights and tips on what to look for and check before buying.

“When completing a major purchase, the factors that affect pricing can play a major part in our psychological wellbeing,” Dr Sharp continued.

“We typically experience a range of emotions in the lead-up to and during the purchase, from anxiety to excitement. However, when we focus on the positive emotions and let that guide our decisions, we typically walk away with a fairer deal and a better experience as a result.”

“The best way to do this is to be prepared and do your research.”

“By building your knowledge and information, you’ll be in a better place to achieve a successful outcome.”

Source: Auto Talk | Empowering Buyers to Secure a Fair Deal

20 September 2021