Popular Car Owners Are Likely to Give up in a Year
Most of us don’t buy new cars just to have them replaced every year. In fact, only 1.5% of new car buyers change during the first year of ownership. That’s according to a new study by iSeeCars.com , which also found that the percentage is significantly higher for some vehicles.
The study looked at over 24 million new car sales for the 2015-2017 model years. Using the vehicle’s VIN, they tracked whether it had been re-listed for sale within a year of its original sale date. They excluded new cars with more than 500 miles and models with fewer than 50,000 new cars sold. From there, they ranked 11 vehicles that are most frequently resold after just a year.
You can see how the percentage stacks up in the table above, but iSeeCars sent us a few important points. First, it is somewhat surprising that 6 out of 11 models are from BMW or Mercedes. However, they attribute this to the fact that dealers are reselling borrowed cars. However, they noted that the remaining 5 models received a rating of 3 stars or lower in the JD Power 2016 Initial Quality survey. However, here’s what their CEO Fong Li said about the results:
It is important to note that a car with an average or even lower quality rating does not mean that it is “lemon”, but rather indicates that it does not meet consumer expectations. everything, but there are consumers who have problems with technologies such as Bluetooth pairing, voice recognition, navigation or audio system. In reality, these systems often simply do not work as expected or as intuitively as they could.
This can be useful information if you are looking to buy a neat used car. They also calculated how much, on average, discounted buyers can see in each of those 11 vehicles. Check it out in the table below.