Why Australians Are Turning to Used Cars: Key Stats You Should Know

Why Australians Are Turning to Used Cars: Key Stats You Should Know

The used car market in Australia has seen a massive surge in popularity, and it’s not hard to see why. From affordability to reliability, more Australians are choosing used vehicles over new ones. At FindMyCar.AU, we’re here to help you navigate this booming market. Let’s dive into the stats that showcase why used cars are a smart choice.

1. Used Car Market Value: $55 Billion and Growing

According to industry reports, Australia’s used car market is valued at over $55 billion and is expected to grow steadily in the coming years. This growth is driven by increasing demand for affordable, high-quality vehicles that fit a wide range of lifestyles.

2. Australians Save Up to 40% on Used Cars

Buying a used car can save Australians up to 40% compared to the cost of a new car. For example, a three-year-old Toyota Corolla often costs around $20,000, whereas the brand-new equivalent might exceed $30,000. This significant saving allows buyers to invest in higher-spec models or save for future expenses.

3. 71% of Australians Prefer Buying Used Cars

A recent survey revealed that 71% of Australians would rather buy a used car than a new one. The key reasons cited include:

• Lower upfront costs
• Reduced depreciation
• Access to a broader range of makes and models

4. Depreciation: A New Car Loses 20% in Its First Year

Did you know a new car loses an average of 20% of its value in the first year and up to 50% within the first three years? By purchasing a used vehicle, you avoid the steep depreciation hit and get more bang for your buck.

5. More Choices Than Ever: 4.2 Million Used Cars Sold Annually

In Australia, over 4.2 million used cars are sold annually, giving buyers access to a vast selection. Whether you’re after a reliable family SUV, a sporty hatchback, or an off-road 4WD, the options are endless.

Why Choose FindMyCar.AU?

At FindMyCar.AU, we make finding your perfect used car easier than ever. Our platform offers:

• Thousands of listings nationwide
• Easy-to-use search filters
• Direct access to trusted dealers