OREANDA-NEWS. September 17, 2014. The SEB survey shows that compared to their Baltic neighbours, Estonians plan to buy newer or less-used cars, and half of the prospective buyers plan to use leasing for acquiring a new vehicle.

“Estonians prefer newer and more expensive cars, whereas more than half of the respondents plan to finance the purchase with leasing,” Ainar Leppanen, the Executive Director of SEB Liising, described the car purchasing behaviour of Estonians.

The SEB survey reveals that 26 percent of the respondents in Estonia, 32 percent in Lithuania and 34 percent in Latvia plan to purchase a car within the next 12 months. Estonians prefer to buy a brand new car or a car that is up to three years old – the respective response rates were 41 percent in Estonia, 24 percent in Latvia and 21 percent in Lithuania.

The wish to purchase a car was the most prevalent in the 18–30 age group, but the age group that found it more likely to purchase a car within the next year was the 41–50 year-olds. “The SEB survey shows that people in their forties buy almost twice as many new cars as the younger respondents do,” Leppanen explained.

According to Leppanen, those in the age of 41–50 tend to prefer newer cars. “The budget Latvians and Lithuanians plan for buying a new car, is more modest, which is the reason for preferring used cars when purchasing a car,” noted Leppanen.

In addition to the price and fuel consumption, safety and spaciousness of the car, as well as comfort of driving are among the most important criteria when buying a new car. “What stood out from the survey was that compared to the Latvians and Lithuanians, the Estonian car buyers have increasingly started to value the environmental friendliness of the car,” said Leppanen.

Buying a new car mostly interests men. According to Leppanen, a quarter of the women that participated in the survey considered it likely that they would buy a new car within the next year. “Over 40 percent of the men that participated in the survey plan a car purchase within the next 12 months. This indicator was the highest among the men in Lithuania and women in Latvia,” said Leppanen.

When planning to buy a new car, the Estonians research different offers in car dealerships and various portals. Latvians and Lithuanians prefer to see the cars in car lots. The survey revealed that respondents from Estonians, Latvia and Lithuania find the opinion of their friends, family and the car dealer equally important when choosing a new car.

2,754 persons, including 944 men and 1,810 women in the age of 18–79 participated in the survey in Estonia, Latvia and Lithuania.