9:10 am, February 26, 2025
Arranging finance is now the biggest pain point for motorists when buying a car, as the commissions scandal continues to rumble away in the background.
That is according to new data from Motors, which has today (Feb 26) published the findings of its latest Consumer Insight Panel.
The study found that over a quarter (28%) of car buyers dread having to arrange finance, making it the biggest headache of the entire showroom experience.
The result comes amidst a backdrop of major uncertainty for the car finance industry, ahead of Close Brothers’ critical Supreme Court appeal later this year.
Motors’ poll surveyed 2,000 car buyers, with finance worries narrowly beating ‘interacting with salespeople’ (26%) to top spot.
Other major concerns raised by customers included trading-in their car (24%) and negotiating the final cost (22%).
Meanwhile, reviewing and signing paperwork and contacting the dealer to check stock availability were both cited by 14% of respondents.
The results also showed that women remain more likely to dislike each aspect of the buying process than men.
In contrast, consumers said that the handover was their favourite part of the buying experience, with 71% saying it was the best bit of the process.
Other highlights included test drives (62%) and viewing and comparing cars in dealerships (54%).
Reacting to the findings, Lucy Tugby, Marketing Director of Motors, said: ‘Our research reveals how uncomfortable many car buyers can be with the purchasing experience and how women are more anxious about the process than men.
‘Dealers can take the pain out of the process by ensuring their online experience includes finance calculators and part exchange valuation tools.
‘Dealers should also think carefully about how female customers feel about the dealership environment and deliver a buying experience that is tailored to addressing their concerns from the moment they step into the showroom.
‘It’s also worth noting that customers do enjoy the more positive aspects of the buying experience, so we urge dealers to make test drives and handovers special occasions.’
