PLANO, Texas, Nov. 20, 2018 /PRNewswire/ -- The final months of the year are often the best time for savvy shoppers to find lucrative car offers as dealerships clear old inventory. However, based on a recent survey conducted by Capital One Auto Finance, consumer concerns over the current car buying process – including transparency, time issues and overall confidence – could keep them from bringing home a car for the holidays. Highlights from Capital One's survey follow.
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Consumers lack confidence in the car-buying process and find it unclear.
- Only 6% of respondents* find the car-buying process completely transparent.
- Only 20% of respondents feel very confident when shopping for a car.
- 16% of respondents say they are "a boss" when it comes to negotiating during the car buying process.
"The car-buying process does not need to be a source of stress. And this current state of trust and transparency in car-buying needs to be addressed," said Jeff Rabinowitz, managing vice president, Capital One Auto Finance®. "Capital One is dedicated to helping consumers feel confident throughout their car-buying journey. Auto Navigator and our Auto Learning Center make the car-buying process easier and more efficient for today's consumer."
Auto Navigator by Capital One provides a digital inventory of millions of cars from thousands of participating dealerships across the nation so consumers have all the information needed to confidently find and finance a car. Auto Navigator further supports consumers by allowing them to see if they pre-qualify for financing with no impact to their credit score, saving them both angst and time before heading to the dealership.
For more information about Capital One Auto Navigator, please visit https://www.capitalone.com/cars/.
The survey of 1,002 U.S. adults ages 18+ was conducted on behalf of Capital One Auto Finance using Engine Insight's Online CARAVAN® omnibus. *Of the 1,002, 693 do not work at a car dealership or ad/public relations company, have purchased a vehicle in the past, are planning to get an auto loan or ever had one. The survey was fielded October 15-17, 2018.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $247.2 billion in deposits and $362.9 billion in total assets as of September 30, 2018. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.
Capital One Auto Finance and Capital One Auto Navigator and all other related trademarks are trademarks or registered trademarks of Capital One and/or its affiliated companies. All other trademarks are property of their respective owners.
SOURCE Capital One