Jan. 13, 2014—A new brand loyalty report released Monday from CarFinance.com shows that below-prime car buyers are less loyal than the average car buyer, are making “practical choices” as they re-enter the market, and are trading in slightly younger vehicles this year than last.
The report lists the top five brands for loyalty and purchase, as well as the most traded-in model years for below-prime car buyers. Based on an analysis of trade-in data from January 2013 to September 2013, the report offers a unique snapshot of the large population of car-buyers who are below prime.
Below-prime car buyers, according to the report, are most loyal to Kia overall, although Nissan came in a strong second. When looking at the brands consumers are buying most when trading in, Chevrolet came in at number one, followed by Ford.
The CarFinance.com Below-Prime Brand Loyalty Report is based on an analysis of funded loans used to purchase a new or used vehicle, and where a trade-in was part of the transaction. The data analyzed covered the first three quarters of 2013.
Here are the top five below-prime car buyer loyalty brands:
- Kia
- Nissan
- Dodge
- Chevrolet
- Ford
Here are the top five model years traded in by below-prime car buyers:
- 2006
- 2007
- 2008
- 2005
- 2004
