Almost three quarters of London used car buyers would go green and choose an electric or hybrid model if they had the option, a study shows.
The choice of used eco-friendly motors is still relatively limited and they make up a tiny proportion of the country’s 8 million used car sales every year.
But 73 percent of London drivers would get an electric, hybrid or plug-in hybrid if they could, while only 17 percent still want petrol models and 10 percent diesel.
However, price is still the main consideration for customers, followed by safety features and fuel efficiency.
The most common second-hand car bought in London today is a metallic black hybrid BMW and it turns out that it’s also the car most customers want!
While the new car market took a tumble in 2019, the trade in second-hand models showed little or no slowdown, according to a comprehensive study by CarFinance 247, the UK’s leading online finance broker for used vehicles1.
CEO Louis Rix, who runs the company alongside brother Reg, said: “Drivers definitely want to be more green because they care about the planet. Electric and hybrid cars will undoubtedly be a huge area of growth in future.
“But price is still the main consideration for most customers, so eco-friendly cars need to become cheaper and more plentiful before they really take off in the second-hand market.”
Two thirds of people get their used car from a dealer, with just under a third of London buyers paying for it in cash, 24 per cent taking out a loan or hire purchase, and 17 per cent using a credit card.
The average UK monthly used car loan payment for people who used a finance broker is £413, or around 19 per cent of their take-home income and in London this jumps to £456.
When it comes to choosing a used car, the most desired feature is a built-in satnav, followed by self-parking, rear-view camera, built-in Wi-Fi and heated seats.
Top 10 most desired used cars for Londoners:
Top 10 most desired colours for Londoners:
A used car isn’t just for driving to and from work or taking the kids to school. A surprising quarter of Londoners have had sex in one or slept in one, while 43 percent have eaten a takeaway. One in five of the used car owners surveyed say they have drunk alcohol in their car — although hopefully not while behind the wheel.