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Buyers waste millions on bad decisions

17 August 2006

  • £456 million a year wasted on bad decisions
  • 28% regret buying their car
  • Do your homework before buying!

do your homework

One in three car buyers end up regretting their purchase because they hadn't done enough research, according to a survey carried out by Network Q.

The used car retailer found that 28% of car buyers say they regretted their decisions, with a further 54% claiming they knew someone who made a bad decision. A third of respondents quoted a 'lack of knowledge' for the reason behind the bad decision.

Network Q claims these bad decisions cost car buyers £456million every year. The research also found that 45% of bad decisions were made at independent dealers, while 40% were made through private sales.

Mike Brown of Network Q said: 'Far too much money is still being thrown away in Britain every year on bad purchases. For an industry well documented for its pitfalls and unscrupulous salespeople, the British are still prepared to risk bad purchases and waste money by trying to take short cuts on expensive items.'

Before you rush into buying a car you could regret later, follow our car-buying checklist.

Figure out your priorities
What do you need the car for?
Work out your budget
How much can you afford? Stick to your budget.
Research, research, research…
Make a list of cars that suit your needs and budget, then find out as much as you can about them. Read our reviews, watch our videos, compare data and specs of the cars you are interested in to help find the car that suits you most. You can do all of that on whatcar.com
Find out how much you should pay
The What Car? Target Price is the most you should pay for a new car. Our Valuations indicate what you should pay for a used car.

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