The recent study carried out by HEC-Ulg Advisory on behalf of Federauto shows that the average age of cars sold on the second hand market is 5.3 years. This is a slight reduction when compared to an earlier study carried out in 2003. This new study, which involved 350 drivers of pre-owned cars, shows that there is a slight preference for diesel (52%). Most second hand cars have between 50,000 and 75,000 km on the clock. This is a significant reduction from 2003, where the average mileage was 77.000 km.
7,575€ (incl. VAT) is the average purchase price of a second hand car, which is somewhat higher than in 2003. The majority of consumers pay cash for their purchase. However, financing is being increasingly used as a payment method (+11%).

The age of the car is the most important selection criterion for the consumer. This is followed by mileage, fuel type and body type. The research suggests that the source of the car has little impact, and the same is true for ecological concerns. Another noticeable finding is that a warranty is relatively unimportant, contrary to what many dealers expected.

Most consumers select a second hand car because it satisfies their needs or because they trust the seller. The importance of trust in the make has dropped by 14%, further evidence that the customer buys to fill a need independently of brand. Dealers, garage owners and the internet are the main ways of searching for and finding the ideal second hand car.

It is also clear that Federauto labels and other guarantee labels are still of no general benefit in Belgium and neither is the Car-Pass. The meaning of the Federauto label is better known in Flanders, as opposed to Wallonia. When asked 60% of the people knew what a Car-Pass was, although 1 in 10 think it is a parking card …

Federauto, The second hand car market in Belgium: study and trends – survey 2008, HEC-ULg Advisory

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