How car buyer’s remorse has changed since 2009

While fears of vehicle depreciation have not changed much in eight years, it appears the likelihood a consumer regrets the specific vehicle he or she bought has climbed.

That’s according to a Google Consumer Survey fielded on March 29 and commissioned by CarMax, which examined car-buying preferences and attitudes of online consumers who have purchased a vehicle.

According to the CarMax-commissioned study, 23.4 percent of respondents had second thoughts about the specific make and/or model they took home.

In the 2009 study (which was administered by Ipsos Public Affairs), just 16 percent felt this way.

Meanwhile, CarMax found that the portion of respondents who believe that having “paid too much for a new car that depreciated” was their biggest car-buying blunder has changed little in the same time frame: 25.5 percent in the most recent study; 26 percent in the 2009 survey.

How they’re researching

While most appear to save the car research for when they’re off the clock, CarMax did find that 23.1 percent of respondents said the work day was when they were most apt to research a car.

Meanwhile, 44.2 percent choose to do vehicle research while they’re kicking back or channel-surfing in the evening. Interestingly enough, 10 percent research cars in bed.

CarMax found that 35.7 percent rely on car reviews but just 4 percent would call on a friend for an opinion on a vehicle. Test-drives were said to be crucial in the decision-making for 24.7 percent of those surveyed.