Lack of Confidence Keeps Car Buyers From Best Holiday Deals
- Capital One survey shows consumers searching for best deal lack confidence they'll find it
- Auto Navigator® by Capital One created to give consumers a more positive car-buying experience
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.
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 supportsconsumers 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.
Methodology: 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.
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