Buying a new car should be one of the most exciting things you do in life. The moment is often the culmination of saving hard and months of research to ensure you pick the right motor.
But that feeling of excitement can often turn into feelings of regret.
According to a survey conducted in 2016 by vehicle leasing company OSV Ltd, 59.6% of car owners have experienced buyer’s remorse with their current car.
Debbie Kirkley, CoFounder of OSV explains: “As buying a new car is such a big decision, it is unsurprising that some of us have regrets. However it is shocking to see that more than fifty percent of car buyers are currently unhappy with their vehicle.”
To ensure that you are among the 40% who have not experienced motoring remorse, OSV’s survey further reveals the most common car buying regrets.
Keep the following in mind before you buy your next car.
- Buying an unreliable car
A whopping 20.8% of those survey explained that they had regrets buying their current car as it has not been as reliable as they had hoped.
- Higher running costs than expected
12.6% explained that the actual cost of running their current car had far exceeded their initial budget.
- Paying over the odds for it
9.4% of UK car owners feel they have been ripped off on the price of their car.
- Depreciation
9.2% have stated that heavy depreciation has led them to regret buying their vehicle.
- Choice of colour
3.8% cite colour as the reason for their regret.
Debbie continues: “Car buying can be very stressful and no car will be perfect at all times. But, by carefully considering all factors listed above you can ensure you make the right decision.”
-ENDS-
Notes to Editors
High res images are available on request.
Full results can be found here.
For further press images or further information please contact
Chanelle McGarry at Grey Square PR:
T: 01752 405718
OSV Ltd
OSV are the UK’s best independent vehicle supply professionals, providing every funding method imaginable. Trading since 1997, we have the experience to provide our customers with the highest level of service and are proud to be members of the British Vehicle Rental and Leasing Association.
Full Results:
| Do you regret buying your current car? If yes, why? | Percentage |
|---|---|
| No | 40.4 % |
| Yes because I purchased an unreliable car | 20.8 % |
| Yes because I paid over the odds for it | 9.4 % |
| Yes because I picked a horrible colour | 3.8 % |
| Yes because I have higher running costs than I predicted | 12.6 % |
| Yes because it has depreciated more than I expected | 9.2 % |
| Other | 3.8 % |
| Other’ answers stated more than once | Buying a car that isn’t practical |
