The 21.3% of consumers who plan to freshen up their driveway with a new car this year may experience sticker shock if they’re heading to the dealership for the first time in a few years, according to the car-shopping experts at Edmunds. Thanks to a combination of rising interest rates, longer loan terms and higher average transaction prices, Edmunds experts say, on average, a buyer could pay $6,500 more to purchase a new vehicle than they did five years ago.
Tag: new car buyers
Auto dealers continue to increase their level of giving to charitable causes, according to new survey data from the National Automobile Dealers Association (NADA) and Ally Financial.
Automakers are busily adding new features to their latest vehicle models. And, this year, more consumers are in the market for a new vehicle, so some of the added features may be important from a competitive standpoint. To understand which features to promote in their ad campaigns, automakers and dealers might want to check out the newly released survey from NADA.
According to a recent Maritz Research New Vehicle Customer Study, the salesperson at an automotive dealership is still the most influential source of information for car buyers. In fact, salespeople were ranked significantly higher in 2011 than in the past five years. Recommendations from family, friends and word of mouth were also ranked statistically higher than in past years, while consumer guides such as Consumer Reports still remain the third most influential source of information.