Used car buyer confidence hits 12-month high

Consumer confidence in the used car market has reached its highest level in a year, according to the latest Startline Used Car Tracker published today.

The data reveals that a net 57% of motorists are positive about buying a used car this month – the highest level recorded since August 2024, when the figure stood at 53%.

Paul Burgess, CEO of Startline Motor Finance, described the figures as encouraging. “This is good news. While the used car market has been relatively buoyant over the last year, there have definitely been moments where we could see some weakening in consumer confidence in our data. In January, for example, net positive sentiment was as low as 38% but since that point, we have seen a consistent upwards trend.”

Improved personal finances are a major factor behind the uplift. According to the survey, 8% more consumers report better financial health than a year ago, while the number of people whose finances are worsening has fallen by 26%.

“In some ways, the 26% fall is more significant than the 8% gain,” added Burgess. “For a period of time over the last 12 months, a majority of people in our research felt their finances were on a downward spiral but that seems to have improved substantially. In fact, the percentage of people saying their finances are worsening has halved in that time.”

Despite this optimism, financial concerns persist. Running costs remain the top consideration for used car buyers, with 69% citing them as their main concern. These include insurance, servicing, and tyre expenses, although concerns around fuel prices have eased.

Burgess noted: “There has been a slight rise in the Tracker in people who say they are worried about job security, which may help explain why running costs remain such a prominent issue, but there is also some subtlety to their views. They are concerned about the costs of insurance, servicing and tyres, but have become less concerned about the price of fuel.”

The Startline Used Car Tracker is a monthly consumer and dealer survey compiled by APD Global Research for Startline Motor Finance. The latest edition is based on responses from 300 consumers and 60 dealers.