73% of used-car buyers in Malaysia are shopping with a budget under RM 80k

According to a survey by Carsome, they found that the bulk of used car buyers shop below RM 80,000. The survey was conducted in June to July 2020 at Carsome inspection centres around Klang Valley, with a total of 1,107 respondents.

When asked about the important considerations in buying used cars, appearance and condition of the car ranks first, followed by competitive pricing, brand reputation, financing options, and transparency and ease of purchase.

The preferred segment of cars among used car buyers is sedan, with 36% of respondents favouring sedans. The runner up and third place belong to SUV and MPV respectively.

Here’s the meat of the story – 30% of used car buyers have a budget range of RM 50,001 to RM 80,000, which makes up the largest percentage of the respondents. The second largest range is between RM 30,001 to RM 50,000, at 24%. The subsequent largest range is RM 30,000 and below, at 19%.

These add up to a total of 73%. Nearly three-quarters of the used car buyers in Malaysia (Klang Valley) are shopping for cars that are below RM 80,000.

Within that price range, there are a number of interesting choices to browse over. A safe option would be the 11th-generation Toyota Corolla Altis or at the top-end of the budget, a pre-facelift FC-generation Honda Civic 1.8S.

If these two options tickle your fancy, you may head to Carsome's website to browse for one. And these are just the tip of the iceberg. Well, this gets our imagination going.

Also read: Applying car loan as a fresh grad? It may be rejected for these reasons, but here's a solution