As the new car market continues to see heavy competition and price increases, many buyers have turned to the used car market to try and make up for this shortage, driving up prices by 40.5% from January 2021 to January 2022.
With this in mind Rocket Auto surveyed more than 3,000 motorists to determine which popular car features would push Americans to spend more money on a vehicle in the current market. The team found that more than 70% of drivers will pay more for cars with top safety features. Backup cameras became standard in vehicles after 2018. But with 66% of drivers currently owning a vehicle older than a 2018 model year, they may be missing this feature. With demand and prices currently high, top safety features are one area buyers are unwilling to sacrifice when searching for a vehicle they can afford, according to Rocket Auto.
Top Features Americans Will Pay More For:
- 80.6% of motorists chose a backup camera
- 78.6% see added value from a blind-spot warning system
- 75.3% would pay more for a vehicle with forward collision warning
You can see the full results of the study here.