Here you will find the 4 most important findings from Billånstrackeren for 2022 that you as an advertiser should be aware of:

1. 1 in 3 have plans to buy a car during the coming year

In this year's survey, 32% of respondents say they plan to buy a car within 12 months. The number is higher than in the population (16%), but this is because the respondents are recruited among users of FINN car which, compared to the general population, is a bit more in the mode of buying or selling a car. The results show a slight decrease in the proportion who will buy a car compared to last year.

42% will buy a used car, 28% will choose a new one and 29% will consider both

As in previous years, most people state that they have plans to buy a used car, but we see an increase in the proportion who consider a new car compared to last year, and a decrease in the proportion who will choose a used car. The older ones buy a new car, while the younger ones buy a used car. Last year, according to OFV, it was an all time high in the number of new car registrations, with over 35,000 more newly registered cars than in 2020. During the first two months of this year, we see a calmer start to the year compared to the same period last year. Used car sales for 2021 also ended over 2020, and after the first two months of 2022, we are almost on a par with 2021.

Loan-financed and cash car purchases are both considered and chosen by most people

So how do they want to finance the purchase of a car. This year, we have for the first time divided the options loan-financed and cash, and this means that we get a decrease in the share that corresponds to loan-financed compared to last year. This year, there are marginally more people who consider loan-financed (57%) than cash (49%), and when we look at what they are most likely to choose, there are still as many who will choose cash, while the proportion who will choose loan-financed is reduced to 38%.

Compared to last year, we see an increase in the proportion who will spend more money on the next car purchase - ie more than 300,000, and we see a decrease in the proportion who will buy cars below 300,000. Not surprisingly, we find new car purchases in the price ranges above 300,000 , while used car buyers envisage car purchases in price boxes from 100,000 - 500,000.

1 in 2 intends to finance part of the car purchase with a loan, while 1 in 10 will loan finance the entire amount. Car loans (63%) and overdrafts (31%) are the most relevant forms of loan
More than half will take out a car loan via a bank and 3 out of 10 will take out a loan from a dealer.

4. Interest rates are by far the most important when choosing a bank for car loans

Last year, the importance of the local bank increased, but this year that is no longer the case. The criterion that is by far the most important when choosing a bank to take out a car loan is the interest rate on the loan. However, we see that the criterion "That the bank has no term fee or establishment fee" is increasing in importance this year. Half envisage a repayment period of 4-6 years, while 1 in 3 will spend 7 years or more. We see a tendency towards longer repayment, where the 7-9 year repayment period increases significantly compared to last year.

If you want a presentation and / or review of this year's survey, you can contact Erik Kristiansen (erik.kristiansen@schibsted.com)