Survey shows consumers have little confidence in car buying
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A survey conducted by Capital One Auto Finance showed a decisive - if not surprising - conclusion. Consumers have little confidence when it comes to buying a car. The survey of 1,002 U.S. adults, conducted in October in behalf of Capital One found consumers have big concerns over the current car-buying process, including transparency, time issues and overall confidence. The results showed a mere 6 percent (1 in 17) of the respondents believed the vehicle-buying process is completely transparent. Just 20 percent (1 in 5) said they are very confident when shopping for a vehicle. And 16 percent (1 in 6) said they are "a boss" when it comes to negotiating during the vehicle-buying process.
"The car-buying process does not need to be a source of stress," Capital One Auto Finance managing vice president Jeff Rabinowitz said. "And this current state of trust and transparency in car buying needs to be addressed".
What a great opportunity dealers have to stand out - in a very good way - by being transparent and creating consumer confidence during the car buying process!
- Posted: Wednesday, 23 January 2019