Morpace released a recent survey on the habits of car buyers. One of the trends it indicated is that car buyers don’t care about which dealership they buy a new or used vehicle from. It may not matter where the auto loan comes from either. It turns out that the average American cares the most about the price.
Car buyers care about price first
A recent survey conducted by research firm Morpace after numerous dealerships closed indicated that price is the primary selling factor for car buyers. Of the 1,000 people surveyed in the study, according to Automotive News, “best deals” was the first priority for 40 percent of them. Up to 74 percent indicated that the best deal offered was a deciding factor in choosing a dealership to buy a new car from. The next most important factors were having a previous good experience and the dealership being recommended by family or friends. More than 50 percent indicated that the name of the dealership did not matter. The least considered factors were a specific salesperson and location.
Car buyers also are brand loyal
The typical American car buyer is brand loyal. A Consumer Reports survey indicated this fact; when people have good experiences with a particular model or brand, they tend to stay in that wheelhouse. The quality of a vehicle was listed as the most important deciding factor, and the dealership name was listed as the least important. Other top considerations were fuel economy, lower price and safety record.
Customers satisfied with the best price on the car they want
Buying a new or used car can be daunting for the consumer. Having to get an auto loan and go into debt is a risky proposition, and naturally, people want to make sure they are getting the best deal possible. People are even willing to travel to get the best possible price on a vehicle.