Prices and finance identified as biggest pain points facing car buyers

MOTORS’ latest Digital Touchpoints Survey has identified the top customer pain points after quizzing 3,000 in-market buyers searching online for used and new cars.

Price negotiations topped the list with 43% saying they found the process difficult. Making sense of pricing was also a concern for 25% and understanding and arranging finance for 23%.

Other factors cited included finding the right car for specific needs (25%), reviewing the condition of cars (24%) and making a shortlist of cars to consider (21%).

The research also revealed how new car buyers are more comfortable in the buying process. Although negotiating price was still the biggest worry, it was only judged to be difficult by 28% of new car buyers, compared to 48% of used car buyers.

Likewise understanding pricing was more of an issue for used buyers (28%) than those buying new (16%).

“As the cost of living crisis continues to bite, purchasing a car can be an even more challenging experience for buyers, particularly those buying used,” said Lucy Tugby, Marketing Director of MOTORS.

“The research reveals just how uncomfortable the buying process can be for many buyers, especially when it comes to price negotiations and understanding what price to pay. Addressing and overcoming these pain points can only be achieved through transparency and having processes in place to ensure customers are treated respectfully and fairly, all the time and every time.

“The best performing franchised and independent dealers and car supermarkets recognise this and go the extra mile to put customers at ease and are rewarded by repeat business and recommendations,” said Tugby.