Used Car Prices Expected To Decline In 2014

Below-Prime Buyers Have Lower Brand Loyalty

When a car performs well for a driver, it can inspire loyalty that carries on for years. A recent study from CarFinance.com set out to examine how different kinds of drivers make connections with vehicles, and whether or not they establish brand loyalty.

According to the data collected, below-prime buyers are less likely to have some kind of brand loyalty. In fact, these subprime purchasers only forge this connection about 24 percent of the time, compared to 44 percent of average buyers. There are also certain automakers that are more likely to inspire this connection, which could shed some light at the best brands for these types of drivers.

For example, below-prime buyers were more likely to be loyal to Kia or Nissan. However, other brands were more popular among drivers trading in a vehicle. Those motorists were drawn to Chevrolet and Ford vehicles, showing that many wanted to get behind the wheel of domestic brands after hearing about different models.

“The data continues to demonstrate that these buyers are making practical choices which not only benefit traditional economy brands, but also brands – such as Nissan and Ford – that are offering consumers good value on their entry-level vehicles,” said Jim Landry, the CEO of CarFinance.com. “While these buyers are not particularly loyal, they favor brands that offer competitively priced vehicles with the must-have features that today’s consumers demand.”

Anyone on the hunt for a used car shouldn’t hesitate to check out the selection at NJ State Auto Auction. The lot houses hundreds of CARFAX-certified cars, trucks and vans that can serve as a great investment for drivers. It also has a financing department that is capable of helping anyone, even below-prime buyers, figure out their plans.