Car buyers skimp on finance research
02 August 2011
- Many research deals for less than two hours
- More than 50% don't discuss with partner
- Purchase of sofas gets more research time
People put more effort into researching finance deals on new sofas than for new cars, according to research by BMW.
The survey revealed that 43% do no research, and more than one in five select their finance package in less than two hours.
It also found that 55% of buyers don’t consult their partner before making car-finance decisions, in contrast to items such as a kitchen, holiday and sofa.
The survey also revealed that buying on finance is becoming more popular. Four in 10 drivers now see it as a ‘perfectly acceptable’ way to purchase the car of their dreams.
Joe Pattinson, general manager sales and marketing at BMW Financial Services said: 'Going into a dealership to purchase car finance without doing any research is not a good idea.'
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