Over half would pay more for a used car with paint protection
Just 21% would be unwilling to pay a premium for a used car with dealer-applied paint and interior protection
The largest proportion of those willing to pay more would be happy with a premium of between 4% and 6% more – equivalent to an additional £835 on the value of the typical used car*
Autoglym LifeShine offers a three-part system that provides molecular protective barrier to upholstery, paintwork and glass
A nationwide survey conducted by Autoglym LifeShine has identified that 51% of consumers would be ‘likely’ or ‘very likely’ to pay more for a used car if they knew the previous owner had invested in dealer-applied paint and interior protection.
Of the 1,000 car buyers polled, 38% would be willing to pay between 4% and 6% more. Based on the average retail price of the typical used car* in the UK, a 5% premium would be equivalent to an additional £835.
The findings point to the substantial potential benefit of highlighting whether used car stock has previously had surface protection applied. Significantly, just 21% of respondents say they would either be ‘unlikely’ or ‘very unlikely’ to pay more.
There are other ways in which the application of surface protection products has a positive impact on buyer intent. In the Autoglym survey, 75% of those polled ‘agree’ or ‘strongly agree’ with the statement: “If the previous owner had paid for a surface protection treatment, I would expect it to be more likely that they will have looked after the vehicle.” Just 3% disagreed with the statement.
Data highlights in Autoglym survey
21% would pay a premium of between 2% and 4%.
15% would pay an extra 6% to 8%.
6% would pay between 8% and 10% more.
5% would be willing to pay a premium of at least 10%.
56% of men surveyed would pay extra for a used car with surface protection, compared to 46% of women.
Those aged between 18 and 24 are most likely to pay more, with 75% either ‘likely’ or ‘very likely’ to do so. The least likely are those aged 55 to 64, albeit the proportion is a substantial 38%.
Anna Houldsworth, Head of Paint Protection at Autoglym LifeShine, said: “This survey highlights the importance of building communication about surface protection products into all aspects of the customer journey – from the point when stock is first marketed online, through to when discussing features and benefits direct with a customer. Doing so means the customer will be more engaged and more likely to purchase.”