Survey finds buyers spend more time researching holidays than cars

Consumers spend more time researching holidays than cars, according to a study by Black Horse.

The findings show 31% of buyers said they spend more time researching a holiday than any other major purchase, beating both houses (19%) and cars 16%.

The online research, carried out by YouGov, polled the views of 2,030 adults.

The research found 22% of consumers do no research at all before buying a car. Regional differences showed car buyers in the East Midlands as being most likely to carry out research before buying (86%) compared to only 70% in the North East.

Of those who do research a car before buying, almost a quarter (23%) do so for a day or less, whilst almost half (47%) say they spend a week or less doing so. Just under one in five (19%) say they spend a month researching before buying.

“With the obvious exception of property, a car is likely to be the most expensive purchase people make. So it’s crucial that people carry out detailed research before buying and our data suggests many of us do not. We also see a large volume of buyers appear to carry out only limited research despite the likely cost and lifespan of the purchase,” said Black Horse head of motor finance Tim Smith.

“We would strongly encourage anyone looking to buy or lease a car to consider all options available to them, to shop around for the best deal and fully understand the total cost especially over the term of a finance or leasing agreement. Whilst consumers rightly research electronic goods and holidays before buying, the reality is these are not usually as expensive as a car.”