Why consumers top concern is affordability
Many drivers are likely seeking cheap car insurance to match their equally affordable autos
Car buyers are taking a practical approach when looking for a vehicle, according to a new survey commissioned by CarMax.
Given the current state of the economy, it makes sense that many people are choosing a used car to meet their transportation needs rather than a pricier new vehicle - one that could mean a higher price tag for car insurance.
The CarMax survey said that 71 percent of respondents simply want their car to get them from here to there and are less focused on the frills.
"In today's challenging economic environment, consumers are focused on making smart buying decisions," said Tom Folliard, president and chief executive officer of CarMax.
"Buying a used car makes sense for shoppers looking for a vehicle that meets their transportation needs, yet remains affordable," he added.
Folliard's point was confirmed by 30 percent of respondents saying that it was important a car met their needs "without breaking the bank."
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Posted: May 29, 2009
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