Pre-owned or brand new? America's car buying preferences

Consumer buying preferences for vehicles are evolving, with insights from YouGov's Category View survey shedding light on the key trends shaping these decisions. Over a third of Americans (35%) who plan to buy a vehicle in the next 12 months intend to purchase a pre-owned car. However, a larger proportion (47%) still favor brand-new vehicles, highlighting a competitive market driven by factors like age, gender, current ownership, and brand loyalty.

Delving into the data reveals significant differences in how various demographic groups approach the decision between new and pre-owned automobiles.

Key demographics – Young Americans prefer brand new cars, while women are more inclined towards pre-owned cars

Buyer intent varies significantly across age groups. Younger buyers (18-29) strongly favor new vehicles, with 56% planning to buy new and only 28% considering a pre-owned car. In contrast, buyers between the ages of 45-64 show the highest likelihood of opting for a pre-owned vehicle, with 46% planning to buy used compared to only 33% for new. This trend hints at factors like financial planning, lifestyle needs, and accumulated wealth influencing purchasing decisions.

Interestingly, seniors (65+) balance their preferences, with 39% leaning toward new and 37% toward pre-owned options.

Gender also plays a crucial role in buyer preference. Women are notably more inclined toward pre-owned vehicles than men, with 41% of prospective female buyers planning to go this route versus 30% of male buyers. This disparity may stem from budget considerations or confidence in the reliability of certified pre-owned options.

Current Vehicle Type and Purchase Intentions

Ownership of a new or pre-owned car significantly shapes future purchasing intentions. Among those who currently own new cars, a striking 72% plan to buy new again. Conversely, for those who currently own pre-owned cars, 61% intend to stick with another pre-owned purchase. This pattern reflects a potential loyalty to the benefits experienced with their current vehicle type—whether it's the lower cost of ownership for pre-owned or the latest technology and warranty protections with new cars.

The number of vehicles currently owned plays a role as well. Those with multiple vehicles are far more likely to consider pre-owned cars (45%) than buyers with just one vehicle, where only 31% plan to buy pre-owned. Those without a vehicle tend to lean almost equally between new (34%) and pre-owned (42%).

Which brands do potential pre-owned car buyers prefer compared to potential new car buyers?

YouGov CategoryView also allows brands and marketers to understand how they stack up against competitors. Arranging data by Z-score brings to surface the strongest relative preferences one audience shows for a set of brands compared to a control audience.

Pre-owned car buyers show the strongest relative preferences for Honda (33% vs 23%) and Toyota (47% vs 37%) are the top preferences, likely due to both brands' strong reputations for durability and long-term reliability. Chevrolet (30% vs 22%), Dodge (16% vs 10%) and Nissan (20% vs 14%) also capture sizably higher relative interest among prospective pre-owned car buyers.

Fuel Type Considerations

Fuel preferences differ dramatically between prospective new and pre-owned car buyers. While an overwhelming 73% of pre-owned buyers plan to stick with traditional gas-powered cars, only 39% of new buyers share this preference. Instead, new buyers demonstrate a growing interest in hybrid (25%) and electric (23%) vehicles, reflecting the rising influence of sustainability and government incentives on the new car market.

Conclusion

The choice between pre-owned and new vehicles is influenced by a variety of demographic, ownership, and brand loyalty factors. While younger buyers and those who currently own new cars lean heavily toward buying brand new, older buyers, those with multiple vehicles, and current pre-owned owners show a stronger inclination toward purchasing used. Brands like Toyota and Honda continue to dominate the pre-owned market, while interest in hybrid and electric vehicles is growing steadily among new car buyers.

These patterns will undoubtedly shape marketing and production strategies in the coming years as automakers and dealerships adapt to evolving consumer preferences.

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