2014 Buick Regal Traded in Four Times Faster After First Year
Were you recently considering purchasing a brand-new 2014 Buick Regal? Did you ultimately decide that you wanted to wait a wee bit to pick one up gently-used? Looks like you ultimately made a good call there.
According to Forbes, the 2014 Regal is the vehicle most commonly traded in by owners after the first year of ownership, per a study conducted by iSeeCars.com. Despite Buick having an industry-leading average length of ownership of about 113 months—just shy of 10 years—10.7% of Regal owners traded in their vehicles after a year or less. Comparatively, the industry average for ownership length is 93 months, and the average for first-year trade-ins stands at 2.7%.
Related: 2015 Buick Regal Trims and Specs
“iSeeCars.com analysts think the fact that consumers are giving more of these cars up than the average is directly linked to quality or perceived quality of the cars,” Phong Ly, CEO of iSeeCars.com, told Forbes. “Because purchasing a new car is expensive and something most people tend to spend a lot of time on, it stands to reason they would make a change shortly afterward if they felt the quality was lacking.”
Of the seven vehicles traded in more than any other, five are sedans, which might also be indicative of needs changing based on family dynamics or of the market’s general shift toward compact crossovers and pickup trucks.
On the plus side, this means that a 2014 Regal with average mile is 32.2% cheaper than it would have been new, making it a great value for shoppers looking for new vehicle quality at a cut rate.
Shopping for a New GM Vehicle? See Current National Incentives
News Sources: Forbes, iSeeCars