July 2025 - New research from Close Brothers Motor Finance reveals a significant level of anxiety among UK drivers regarding the future cost and value of their vehicles.
Three in four (75%) motorists expressed concern over the impact of global and economic changes, including rising tariffs - underscoring a pressing issue for the automotive industry, as consumer confidence appears increasingly fragile. Of those surveyed, almost a third (30%) admitted to being "extremely concerned," while a further 45% reported being "slightly concerned" about how rising tariffs and other global developments could affect car affordability and value.
Nearly a third (32%) of motorists share concerns over the value of their current car, followed closely by 30% who fear they won’t be able to afford the car they desire in the future. More than a quarter (27%) are anxious over depreciation, and 18% are concerned about the resale prospects. On top of this, close to one in five (17%) fear that their current car brand may cease operations, and 15% are worried about the reputation of their current vehicle manufacturer.
John Cassidy, Managing Director of Sales at Close Brothers Motor Finance, comments: “This widespread apprehension highlights a critical need for the automotive sector to adapt and reassure consumers. The geopolitical landscape, coupled with economic uncertainty in the UK, is understandably causing concern for the majority of motorists.
"With consumer confidence under pressure, car dealers have a key role to play in helping customers meet their vehicle needs through transparent pricing, flexible finance options, and robust after-sales support. Communicating value and trust will be the key to dealers maintaining strong business performance despite market challenges.
“Close Brothers Motor Finance is committed to empowering car dealers with actionable insights to navigate evolving market dynamics. Understanding these pervasive consumer concerns is paramount for strategic planning, influencing everything from forecourt stock to future purchasing decisions.”
