By Auto Remarketing:
Connectivity may be the best feature to plug when talking to a used-car shopper. And whether or not that car is in good shape may be the most crucial piece of information you pass along to that shopper.
That's according to a white paper from CarStory, which among other areas, investigated the top features used-car buyers want and the most important information they need in buying a car.
CarStory, a provider of crowdsourced data and analytics on pre-owned vehicles, surveyed a random pool of the paper's participants, all ages 18 to 65.
These participants were given a list of the top 25 used-car features that CarStory's data science team found to be in high demand or heavily influential on used prices, and they were asked to select "must-haves" from that list. (More than one feature could be chosen).
More than 40 percent chose MP3 and 30 percent picked Bluetooth. Over 25 percent chose iPod adapter, putting it on the same level as high-performance tires. Fifth on the list was heated seats, with a hair more than 25 percent choosing that option.
Also scoring above 20 percent were keyless entry, remote start, rear-view camera and navigation system. Right at 20 percent were sunroof and all-weather package. The remaining 14 features listed were below 20 percent.
Beyond the features of the car, CarStory also looked into the vehicle description points that resonate with used-car buyers.
"For this exercise, we gave the survey participants a list of details that descriptions of used cars commonly include," the company explained. "We asked participants to rate the importance of each detail using a sliding scale."
The top detail?
Vehicle condition, which got a score of 81 out of 100, according to CarStory's January survey of online used-car shoppers.
Next up was accident history (77), followed by service history (75), listing price (74) and value of the vehicle (73).
The complete list of most important details is below:
Accident History 77
Service History 75
Listing Price 74
Value of the Vehicle 73
Price Compared to the Market 68
Dealership's Reputation 66
Selling Price of Similar Vehicle 65
Mileage Compared to Similar Vehicle 64
Comfort Features 60
Cost of Ownership 60