Why peace of mind is as important as price

A low price isn’t everything, as research shows that quality and trust is just as important to most buyers
By Ian Allen

In a recent YouGov poll, more than 60% of respondents said that trust in the motor retailer was equal to the importance of screen pricing, while only 10% said they’d be enticed away from a dealer they trusted if a similar car was cheaper elsewhere.

To reinforce the importance of trust in motor retailers The Motor Ombudsman organisation states that during the first half of 2017, a staggering 91% of complaints were in relation to the quality of new and used vehicles at the point of purchase.

These figures show we still have long way to go to instil both confidence and peace of mind into our customers and as Benjamin Franklin said: “The bitterness of poor quality remains long after the sweetness of low price is forgotten.”

Stock pressures

Due to increasing year-on-year used car sales in the UK there has been pressure at times to find the quality stock required to replenish sales figures and as such there has been a tendency by some retailers to enter into older or higher mileage cars.

At the time of writing, one of the Plc dealer groups has 485 cars on its website at under £3,000 screen price. Whilst selling this type of vehicle adds a unit to sales figures, it does little to attract confidence and trust, as inevitably these cars are the first to break down.

Now would be a good time to review age, mileage and model mix, to ultimately increase customer good will.

It may also be a good time to review your used car buying function to ensure best practice as quality stock is always out there if you are looking hard enough. Vehicle provenance is a key imperative and service history is becoming a required norm in a vehicle’s saleability.

Offering quality

Preparation is of paramount importance and franchised retailers all have used manufacturers’ standards to adhere to. This should also encompass a full service and full year MOT (where applicable) prior to collection.

It still amazes me that certain retailers, including franchised dealers, only offer a 28-day warranty and then the customer has to purchase an extended warranty. Not exactly a ringing endorsement of the product that you are selling and doesn’t fill the customer with confidence, knowing that when his first payment falls due, his warranty will have expired.