Selling a car (freepik photo)
Buying and selling second-hand items can be a tricky business – with one in four people feeling they might not be happy with the deal.
According to a new study that surveyed 2,000 adults in the US, 69% who have personally sold or bought a used item admit that they would have done the deal differently, or given up on it. The item that stands out the most, according to the study, is a car. Over the past year, used cars were the most commonly purchased items both online (34%) and in person (31%).
The study, commissioned by CarLotz and edited by OnePoll, found that 65 percent of Americans have purchased a vehicle from another person—but only 27 percent have bought their car from a stranger face-to-face. That is, according to the respondents, 66 percent of their used car purchases were made online. Meanwhile, 15 percent of respondents have sold a car directly to another person, with the majority of these sales occurring face-to-face (69%) rather than online (19%).
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Half of those who sold a car (49%) believe that the process taught them a lot about cars and the car market in general. Even with the rise of online markets, vehicles are still the item where almost half of those surveyed (49%) still prefer to meet face-to-face.
While 41 percent of potential buyers of any used item—from phones to books to clothes—are fine with having the product shipped to them, one in three prefer to meet face-to-face. More than a third (38%) would insist on bringing someone with them to meet sellers, while 37% would only communicate with sellers via text or message.
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Let’s keep it online
It is interesting to note that sellers are more careful when meeting potential buyers than the other way around. Only three in 10 are willing to meet buyers in person – half prefer to ship items and 29% prefer to interact with buyers online only. Just like their potential buyers, if they plan to make the deal face-to-face, 41 percent prefer to have someone they know by their side.
The trend of buyers and sellers wanting to transact face-to-face revealed a lot about people’s general comfort levels. Although seven in 10 consider themselves “pros” because of their experience, more than half (55%) have doubts about buying or selling items to others.
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The hesitations include the fear of being lied to (42%), sharing their personal information (41%) and doing the deal alone (37%). Two in three (64%) say that keeping their personal information private is important when transacting with others. If someone violates their privacy, 45% will back out of the deal. Similarly, 41 percent would refuse to give their real phone number and 40 percent would not reveal their real address.
Don’t forget to clean your car
Despite everything, personal information (19%) tops the list of items found in used cars, followed by old discs and tapes (17%) or car spare parts (17%).
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“Simply put, the modern automobile is like a cell phone on wheels,” says Liz Messick, vice president of operations for CarLotz, in a statement. “Four out of five vehicles sold last year contained personal data such as phone numbers, addresses and even home parking gate codes. Often, people will sell or transfer their car to a third party for sale without clearing it.”
Ironically, many believe it is okay to do a background check on the person they are doing business with if they have access to their personal information. 46 percent will look up their social media accounts, 44 percent will see if they live in a good neighborhood and 36 percent will even try to figure out where the other person works. To add a level of comfort, many insist on meeting in public places such as shopping centers (29%) or near a police station (17%).
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