Few Car Shoppers are 'Extreme Price Grinders,' Reports Edmunds.com
SANTA MONICA, Calif., May 19, 2014 /PRNewswire/ -- Only about 20 percent of car shoppers consider themselves "extreme price grinders" who will take as much time as they can to get the lowest possible price on a new or used car, according to a new report released today by Edmunds.com, the premier destination for car shopping. In fact, says Edmunds.com, a clear majority of car shoppers (64 percent) value the importance of saving both money and time in the shopping process.
"These findings dispel the myth that car shoppers will do whatever it takes to pay a rock-bottom price," says Edmunds.com President Seth Berkowitz. "The feedback we've received from shoppers is clear: they're more than willing to limit their efforts to haggle if they can get a fair deal without the difficulty and stress of long negotiations."
The balance of time vs. money is just one of the interesting findings of the 2014 Car Shopping Trends Report, which was released earlier today by Edmunds.com. The report is based on a survey of 500 in-market and recent new and used car shoppers from across the U.S. The report features a number of important insights into how Americans shop for a car today, and suggestions for ways that dealers can use these insights to improve the car shopping experience
Other insights include:
- 66 percent of shoppers say that they are likely to request guaranteed upfront pricing on a new car, and 82 percent of shoppers prefer to have a price guarantee on a VIN-specific new car, as opposed to a vehicle configuration that may or may not be on the dealer's lot.
- 100 percent of smartphone owners surveyed say they used their device to perform some sort of car shopping activity, typically for vehicle and pricing info.
- On average, during the shopping process purchasers will visit two dealers and take two test drives.
- Only 58 percent of respondents say they test drove a vehicle before they made their most recent purchase.
- 83 percent of car shoppers say that they come away very or somewhat satisfied with their dealership experience.
Edmunds.com's 2014 Car Shopping Trends Reports is available for full download at http://www.edmunds.com/industry-center/car-shopping-trends/.
Edmunds.com addresses car shoppers' need to balance money and time with Price Promisesm, which makes it easy for them to connect with dealers that have agreed to provide an upfront price on a specific car. Price Promisesm also gives shoppers a personal contact at the dealership when they're ready to buy, leading to more saved time and less stress. More details on Edmunds.com's Price Promise® and how it works can be found at http://www.edmunds.com/price-promise.html.
About Edmunds.com, Inc.
Edmunds.com is a car-shopping Web site driven to make car buying easy. Almost 18 million visitors use our shopping tools every month to connect with over 9,500 dealer franchises across the U.S. Shoppers can browse our inventory listings for available cars and trucks, and with Edmunds.com Price Promise®, they can get an instant, upfront price on those same vehicles. Recently named by Maritz Research as one of the most trusted online consumer review sites - and the only automotive site listed in the top ten - Edmunds.com is also home to comprehensive car reviews, shopping tips, photos, videos and feature stories. Even when you're at the dealership, we're always by your side. Just call our free Live Advice Line at 1-855-782-4711 or use our acclaimed Edmunds.com iPhone and iPad apps or Edmunds.com Android App. We're based in Santa Monica, Calif., but you can connect with us from anywhere by following @Edmunds on Twitter or by becoming a fan of Edmunds.com on Facebook. You can also find us on Instagram, Google+, Pinterest, LinkedIn and Flipboard.