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Artificial intelligence is changing the way Americans buy cars, and it’s a transition that is happening quickly. In the first-ever survey of its kind, CarEdge asked 500 car shoppers if they’re using AI tools like ChatGPT to research, compare, and negotiate during the car buying process.
The results confirm a major shift is underway. One in four car buyers in 2025 is already using AI tools to gain an edge, and future buyers are even more likely to embrace these technologies.
Car buyers are finding AI to be a valuable tool. Among those who used tools like ChatGPT, Perplexity, Google Gemini, and others, 88% said it was helpful. AI is quickly becoming a trusted co-pilot for car buyers.
This report offers the first data-backed look at how AI tools are reshaping the car buying experience. For the automotive industry, the message is clear: buyers are more empowered than ever — and they’re bringing AI to the dealership.
Key Findings: Car Buying Is Changing Quickly
The 2025 CarEdge AI & Car Buying Survey reveals a clear and growing trend: AI tools are quickly becoming part of the car buying process for a significant portion of consumers. Here are the standout findings:
1 in 4 Car Buyers Use AI
25% of car buyers in 2025 say they used or plan to use AI tools like ChatGPT during the shopping or buying process. This contrasts with a recent survey by Elon University that found 52% of Americans now use AI large language models. While signs point towards increased adoption of AI tools, the CarEdge survey found that most car buyers are still in the early stages of integrating these tools into high-stakes decisions like vehicle purchases. This suggests there’s still significant room for growth in AI adoption amongst car buyers.
AI Use Is Accelerating
Among those who haven’t bought a car yet this year, 40% say they are using or plan to use AI tools during their search or deal-making. This is nearly 3x higher than the 14% seen among those who already bought a car earlier in the year.
AI Tools Deliver Results
Among those who used AI:
88% say the tools were helpful
32% found them very helpful
60% used them “a lot” during the process
The AI Holdouts: Drivers Who Lease
Of the respondents who had already leased a car in 2025, none reported using any AI tools.
The AI-Adopting Buyer: Who’s Using It, and How?
AI adoption among car buyers is still in its early stages, but clear trends are beginning to emerge.
Among Buyers Who Already Purchased in 2025:
Just 14% of those who already bought a vehicle this year used AI tools during the process. Adoption rates were nearly identical across new and used buyers, with 14% in each group saying they used AI tools.
Among Future Car Buyers:
The numbers jump significantly when looking at those who haven’t yet bought in 2025. Among this group — who represent 39% of total respondents — 40% say they either already use or plan to use AI tools during their car search and buying process.
That’s more than triple the current usage rate among recent buyers, suggesting AI adoption is accelerating as awareness grows and tools become easier to use.
This group also appears to be more proactive: 60% of those who used AI tools during their buying journey said they used them “a lot,” while 40% used them only occasionally.
What Car Buyers Are Using AI Tools For
AI tools are quickly becoming essential research companions for car shoppers looking to make more informed, confident decisions. After all, why go it alone when a wealth of automotive knowledge powered by large language models (LLMs) is right in your pocket?
Among buyers who used AI tools during their car purchase or lease process, here’s how they put them to work:
88% — Researching Vehicles
The most common use by far, AI tools helped buyers learn about different models, trims, features, and reliability. For many, it was like having an always-available expert to explain the pros and cons of their options.
64% — Comparing Prices and Market Values
Buyers used AI to better understand fair pricing, from invoice pricing to out-the-door.
44% — Learning Negotiation Strategies
Nearly half of AI users leaned on these tools to prepare for conversations with salespeople. Whether role-playing negotiation scenarios or asking how to spot add-on fees, this group used AI to level the playing field at the dealership.
11% — Exploring Finance and Lease Options
A much smaller portion of buyers used these tools to become familiar with leasing vs. financing, how to calculate payments, and similar queries.
Why It Matters
Car buying has always been tilted in favor of the dealership. Information asymmetry — what the dealer knows versus what the customer knows — has long been the source of consumer frustration, confusion, and overpayment.
That dynamic is beginning to shift.
This survey confirms what many in the industry are only starting to realize: AI is giving car buyers the upper hand. Tools like ChatGPT are helping consumers cut through the noise, ask smarter questions, and avoid common dealership traps. Instead of relying on guesswork or scattered advice, buyers are turning to AI for fast, personalized guidance at every step.
But one auto industry veteran has words of caution for buyers relying heavily on AI tools.
“It’s both surprising and a little scary to see how quickly people are turning to AI to guide such a major financial decision,” said Ray Shefska, Co-Founder of CarEdge. “While tools like ChatGPT can be powerful, they’re only as good as the data behind them. AI should complement your research, not replace your own critical thinking.”
That perspective underscores the real takeaway of this report: AI works best when it’s used thoughtfully as a tool, not as a crutch. In an age where automation raises fears of job loss or decision-making without human oversight, this survey offers a more optimistic view — one where technology helps everyday consumers make smarter choices. Used wisely, AI can help level the playing field and bring more transparency and fairness to the car buying experience.
Methodology
This survey was conducted by CarEdge between June 19 and June 24, 2025. A total of 500 U.S. respondents participated, recruited through the CarEdge email newsletter and social media channels. Questions were tailored based on buying status to better understand how and when AI tools were used in the car shopping process.
About CarEdge
Founded in 2019 by father-and-son team Ray and Zach Shefska, CarEdge is a leading platform dedicated to empowering car shoppers with free expert advice, in-depth market insights, and tools to navigate every step of the car-buying journey. From researching vehicles to negotiating deals, CarEdge helps consumers save money, time, and hassle. Join the hundreds of thousands of happy consumers who have used CarEdge to buy their car with confidence.
With trusted resources like the CarEdge Research Center, fair pricing tools, and hundreds of guides on YouTube, CarEdge is redefining transparency and fairness in the automotive industry.
CarEdge, the best place to buy, sell, and own a car with confidence, recently surveyed 408 U.S. drivers to better understand how consumers are navigating the car market in 2025. The survey, conducted from May 16 to May 19, comes at a pivotal time. Following the implementation of U.S. auto tariffs on April 3, car prices, interest rates, and inventory levels have all been in flux. With uncertainty growing, CarEdge sought to answer a critical question: how are real drivers adapting their car buying behavior?
Survey participants represent a broad cross-section of car shoppers and owners, from those who’ve recently purchased to those holding off for the foreseeable future. The full survey is available at CarEdge.com. Below, we break down the most important findings from this May 2025 snapshot.
How Americans Are Approaching the Car Market in 2025
The survey responses paint a picture of a divided car market, shaped by mixed economic signals and widespread caution. Among all respondents, 16% reported purchasing a car after the April 3 tariff announcement, while another 12% said they had bought a vehicle shortly before the tariffs went into effect. A much larger share (52%) said they are still actively shopping for a car, while 20% said they have not purchased a vehicle in the past six months and do not plan to buy one in 2025.
Tariffs have clearly impacted perceptions. Interestingly, among those who bought their car before April 3, 38% acknowledged they made the purchase early specifically to avoid the risk of higher prices. Among those who purchased after April 3, 16% said they believe they paid more due to the tariffs, with the vast majority of post-tariff buyers (84%) saying they believe they did not pay more.
Looking ahead, half of respondents are still planning to buy a car before the end of 2025. Of those future buyers, about a third plan to purchase new, another third are shopping used, and the remaining 30% are still undecided.
When it comes to what’s keeping people on the sidelines, affordability challenges and a lack of compelling deals top the list.
These are the barriers to buying (as a percent of all respondents who have not purchased):
With these top-line insights in mind, we next explore specific groups within the survey to uncover how recent and future car buyers are thinking about today’s market.
Pre-Tariff Buyers – Beating the Clock
Survey respondents who purchased a car in the six months leading up to April 3 offer another layer of insight. Among these buyers, 61% purchased new and 39% purchased used.
What stands out most in this group is that more than a third (38%) said they intentionally bought their car early to avoid potential price hikes from tariffs. For the remaining 62%, tariffs didn’t factor into the timing of their purchase.
Income again played a role in how buyers approached the market. Among households earning $200K or more, just 22% said they made their purchase early in response to the looming tariffs. Nearly half (48%) of buyers earning between $100K and $199K did the same. In contrast, 39% of buyers earning under $100K said they bought early to avoid tariff-related price hikes.
This suggests that low- to middle-income consumers were more likely to act on policy changes and proactively adjust their buying timeline. Higher-income households, on the other hand, may not have been as concerned about the possible impact of tariffs on car prices this spring.
Post-Tariff Buyers – Adjusting Expectations
For respondents who bought a car after the April 3 tariff rollout, the data reveals a blend of resilience and skepticism. Among this group, 81% purchased a new vehicle, while 19% opted for a used one.
Despite the added costs associated with the new tariffs on imported vehicles, most post-April 3 buyers didn’t feel the sting. A strong majority—84%—said they don’t believe they paid more as a result of the tariffs. Still, 16% acknowledged they believe they did.
Among buyers who purchased after the April 3 tariff implementation, a different pattern emerged. Higher-income households were more likely to believe tariffs increased the price they paid. Specifically, 27% of households earning over $200,000 said they believed they paid more because of tariffs. In contrast, only 11% of households earning between $100,000 and $199,999 felt the same. Meanwhile, 17% of buyers with incomes under $100,000 said they believed tariffs had raised their purchase price.
These results suggest that while tariffs haven’t universally discouraged buyers, those with tighter budgets and those with a keen eye on policy changes are the most attuned to their potential impact.
Active Shoppers – Cautious and Calculated
Among those still planning to buy a car in 2025, the data reveals a thoughtful and strategic group of shoppers. Less than half (44%) of active shoppers expect to make their purchase within the next three months, while a majority (56%) plan to buy later this year.
When it comes to what they’re looking for, 54% say they’re in the market for a new car. About 19% are shopping for used vehicles, while just over a quarter are still unsure.
As for why these shoppers haven’t yet moved forward, deal quality remains the leading barrier. Respondents were asked to select all reasons why they have yet to purchase in 2025. 50% say they haven’t seen an offer worth acting on, while 30% are waiting for prices to come down. Another 21% say they haven’t found a car or truck they like. A smaller group is holding out for lower loan rates (18%), while tariffs were cited by just 11% of active shoppers.
One-fifth of active shoppers said that their decision to keep their current vehicle for longer was a factor in delaying their purchase.
Looking at the income distribution of active shoppers, the data continues to reflect a largely middle-income profile. The majority fall between $50K and $149K in household income, suggesting that many of these buyers are financially capable, but remain cautious in an uncertain economy.
Opting Out – Those Sitting on the Sidelines
Among drivers who have neither purchased a car in the past six months nor plan to buy one in 2025, a few clear themes emerge. This group is not driven by fear of rising costs or policy uncertainty, but rather by satisfaction with their current vehicle, and a lack of appealing options in today’s market.
The majority of these respondents (71%) say they’re sticking with their current vehicle longer, a sign that many Americans are adopting a “wait and see” approach to the market. Beyond that, 23% haven’t seen a deal worth moving on, while 9% say they haven’t found a car or truck they like. Price sensitivity remains a factor, with 20% waiting for prices to drop and 14% holding out for lower loan rates.
Concerns about tariffs are present, but not widespread. Among those on the sidelines right now, the reasons cited are roughly the same for all income segments. About one quarter say that they’re keeping their current vehicle for longer, while roughly 20% say they haven’t seen any deals worth acting on yet. The third most common reason for sitting out today’s car market is waiting for prices to come down. Only 7% cited tariffs as one of their reasons for not planning to buy a car in 2025.
A Market Shaped by Uncertainty
The 2025 CarEdge Consumer Survey shows that the American car market remains fractured and cautious in the wake of economic headwinds and new policy shifts like auto tariffs. While some shoppers are moving forward with confidence, many are hesitant, skeptical, or simply waiting for conditions to improve.
The overarching takeaway? The car market in 2025 is no longer defined by pent-up pandemic demand or rapid inflation. Instead, it is being shaped by deal quality, interest rates, and policy awareness. For automakers, dealers, and car buyers alike, understanding these shifting motivations is key to navigating what’s shaping up to be one of the most complex car buying environments in recent history.
About CarEdge
Founded in 2019 by father-and-son team Ray and Zach Shefska, CarEdge is a leading platform dedicated to empowering car shoppers with free expert advice, in-depth market insights, and tools to navigate every step of the car-buying journey. From researching vehicles to negotiating deals, CarEdge helps consumers save money, time, and hassle. Join the hundreds of thousands of happy consumers who have used CarEdge to buy their car with confidence. With trusted resources like the CarEdge Research Center, Vehicle Rankings and Reviews, and hundreds of guides on YouTube, CarEdge is redefining transparency and fairness in the automotive industry. Follow us on YouTube, TikTok, X, Facebook, and Instagram for actionable car-buying tips and market insights.
Amid a volatile market and looming auto tariffs, a new consumer survey conducted by CarEdge reveals that most Americans are unwilling—or unable—to tolerate further increases in car prices and monthly payments. The Spring 2025 Car Buyer Survey, which gathered over 400 responses from prospective new and used car shoppers, shows just how sensitive demand is to monthly payment hikes.
Key Findings: New Car Buyers
Even without any additional price increase, 42% say they’ve already canceled their car purchase plans due to high prices.
65% of new car buyers say they would exit the market entirely if monthly payments rose by just 5%.
78% would be out if payments rose by 15%, and more than 83% would stop shopping entirely if payments climb 25%.
“These numbers make it clear: new car affordability is reaching a breaking point,” said Zach Shefska, Co-Founder and CEO of CarEdge. “If monthly payments increase even slightly, automakers are going to lose a huge chunk of their customer base.
From 2022 to 2024, incentives were increasing. Now, that trend is reversed, with incentives making up just 7% of the average transaction price. With auto loan rates averaging 9% APR for new cars, any decline in manufacturer incentives could spell trouble for buyers and sellers alike.”
Key Findings: Used Car Buyers
37% of used car shoppers report they’ve already given up on buying due to high prices.
Used car shoppers show similar price sensitivity, with 60% saying they’d be out of the market if prices rose 5%.
That figure climbs to 74% at a 15% price increase, and 82% of buyers say they’d walk away if payments rose 25%.
Income Breakdown: Even High Earners Are Walking Away
The latest CarEdge Car Buyer Survey highlights a striking reality: car buyers at all income levels are reaching their breaking point.
Lower income buyers are hit hardest: Among new car buyers with household incomes below $50,000, a staggering 51% have already canceled their purchase plans due to high prices.
For used car shoppers in the same income bracket, the figure is nearly identical at 49%.
Even middle-income households are feeling the pressure:
43% of new car shoppers earning $50,000–$100,000 have also exited the market.
37% of used car shoppers in this income range say they’ve given up their purchase plans.
And while some might assume high earners are unaffected by today’s car prices, the data says otherwise:
Higher-income households are slightly more resilient in the used market, but even among those earning $150,000 or more, 44% say they would be out of the market if used car prices rise by 5%.
Among households earning over $200,000 annually, 32% of prospective new car buyers say they’ve already walked away. In the used market, 25% of shoppers in this high-income bracket report the same.
While only 9% of all new car buyers said they wouldn’t change their plans regardless of price, that number jumps to 24% among households earning $150,000 or more.
“Car affordability impacts all households,” said Shefska. “Even six-figure earners are pushing back. That should be a wake-up call to automakers who have spent years increasing MSRPs and abandoning affordable (sub $25,000) vehicles.”
Across the board, households making over $100,000 per year are more price-sensitive than expected, with many drawing firm lines as affordability concerns mount. It’s not just new car shoppers who are reconsidering making a vehicle purchase. We see similar trends among used car buyers:
Shockingly, among households earning over $200,000 per year considering a used vehicle, one quarter say they’ve already canceled their purchasing plans. That’s the same percentage as those in the same income bracket who say they wouldn’t change their plans even if used car prices rose by 25%.
Market Implications
These findings come at a time when tariffs are threatening to push car prices even higher. The Trump administration’s recent pause on some trade duties does not include the automotive sector, where tariffs on imported vehicles remain in place.
“Any further price increases—whether from tariffs, panic buying, or other pressures—are likely to trigger a significant drop in demand,” noted Ray Shefska, CarEdge Co-Founder and used car sales veteran with 43 years of experience. “Automakers should think twice before pushing through further price hikes without offering offsetting incentives.”
The average new car transaction price is $47,962, according to Cox Automotive. A 5% increase in new car prices would send average transaction prices above $50,000 for the first time. Our data suggests that if that were to happen, 65% of would-be new car buyers would be out of the market.
Used Car Prices Are Not Immune
While the average used car is more affordable than a new one, used car prices are not insulated from the effects of rising new car prices. If tariffs or production constraints push new car prices even higher, many buyers will inevitably turn to the used car market—increasing demand and potentially driving up prices for pre-owned vehicles.
As of April 2025, the average used vehicle listing price stands at $25,180, well below the 2022 peak of over $28,000—but still high by historical standards.
“As demand shifts into the used market, we will see a second wave of price inflation,” Zach Shefska warned. “That could squeeze budget-conscious buyers even further and delay car ownership for many. We have already seen material price increases at dealer wholesale auctions, and we anticipate price increases to show up on the showroom floor quickly.”
About CarEdge
Founded in 2019 by father-and-son team Ray and Zach Shefska, CarEdge is a leading platform dedicated to empowering car shoppers with free expert advice, in-depth market insights, and tools to navigate every step of the car-buying journey. From researching vehicles to negotiating deals, CarEdge helps consumers save money, time, and hassle. Join the hundreds of thousands of happy consumers who have used CarEdge to buy their car with confidence. With trusted resources like the CarEdge Research Center, Vehicle Rankings and Reviews, and hundreds of guides on YouTube, CarEdge is redefining transparency and fairness in the automotive industry. Follow us on YouTube, TikTok, X, Facebook, and Instagram for actionable car-buying tips and market insights.Contact for Media Inquiries: press@caredge.com | www.CarEdge.com
Negative equity, or owing more on a car loan than the vehicle’s market value, continues to rise as inflationary pressures and long loan terms take their toll on car buyers. CarEdge, in partnership with Black Book, surveyed 474 drivers in Q4 2024 to uncover the state of vehicle equity. Here are the highlights and the broader implications for drivers, car buyers, and the automotive industry.
In Q4 2024, 39% of drivers who financed their vehicles were underwater—up from 31% in Q3, a 25% jump. For cars purchased since 2022, the situation is even worse: 44% of these buyers owe more than their car is worth. As depreciation accelerates and long-term loans become the norm, the risk of negative equity continues to grow. This trend highlights a troubling financial burden on drivers and poses risks for the broader auto market.
Drivers Overestimate Their Car’s Value
Our survey reveals that 60% of drivers believe their car is worth more than its actual trade-in value. Of these, 18% overestimate by $5,000 or more, and 7% by over $10,000. This disconnect leads many to carry negative equity into their next car purchase, perpetuating financial strain.
When drivers attempt to trade in or sell their vehicles, they often face the harsh reality of lower-than-expected offers, which can derail their car-buying plans. Unfortunately, many choose to roll over the remaining debt into their next loan. This practice, while common, leads to higher monthly payments and extended loan terms, keeping buyers in a cycle of financial vulnerability.
Long Loan Terms Drive Negative Equity
Loan terms significantly impact vehicle equity. Borrowers with 84-month loans face a median negative equity of -$8,485, while those with shorter 36-month terms have a positive median equity of $7,783. While longer loans make monthly payments more affordable, they also leave buyers trapped in equity-negative positions for years.
For many buyers, the appeal of lower monthly payments outweighs the long-term risks. However, as loan balances decrease more slowly with longer terms, these borrowers are more likely to face financial strain when attempting to sell or trade in their vehicles. Buyers who opt for shorter terms and make larger down payments tend to build equity more quickly, putting them in stronger financial positions.
EV Owners Are Most at Risk
Electric vehicle owners face the highest negative equity rates, with 54% underwater and a median equity of -$2,345. This makes EVs particularly vulnerable compared to gas and hybrid vehicles, which are more likely to have positive equity.
The rapid depreciation of EVs is a key driver of this trend. EV technology can become outdated quickly as newer models with improved range, charging speeds, and driver assistance features enter the market. Additionally, concerns about costly battery replacements and limited resale demand have led many buyers to prefer new EVs with warranties and a known history, further impacting the resale value of used EVs.
For EV buyers, understanding depreciation trends and factoring in long-term costs is critical to avoiding significant negative equity. Opting for shorter loan terms and considering potential incentives or tax credits can help offset some of the financial risks. Buyers who plan to hold on to their EVs for longer than just a few years are less likely to be impacted by negative equity with their auto loans.
What Does This Mean for 2025?
As we head into 2025, the issue of negative equity looms large for both consumers and the auto industry. For car buyers, rolling over negative equity into new loans can lead to long-term financial stress, reducing their purchasing power and limiting options. For the auto industry, high levels of negative equity could dampen trade-ins and slow new car sales, forcing automakers and dealerships to adjust their strategies.
Car dealers also face challenges when appraising trade-ins with negative equity. To close deals, dealers may need to discount new vehicles more aggressively or offer creative financing solutions, which can erode profit margins. Over time, high levels of negative equity in the market can disrupt the typical sales cycle
Navigating the Negative Equity Challenge
The Q4 2024 Negative Equity Report paints a clear picture of a growing issue in the car market. Drivers, car buyers, and the auto industry alike must address the challenges posed by rising negative equity.
CarEdge remains committed to empowering consumers with tools and insights to navigate today’s challenging car market. To avoid falling into the negative equity trap, car buyers should prioritize shorter loan terms, be familiar with expected car depreciation, and monitor used car values with tools like Black Book. Overcoming negative equity is possible when drivers make informed car buying and ownership decisions.
The latest CarEdge Car Buyer Satisfaction Survey shows that an informed approach to car buying leads to a more satisfying and seamless experience, with 87% of respondents reporting high satisfaction with their purchases. This is significantly higher than industry averages and highlights the importance of buyer empowerment. From pricing expectations to dealership loyalty and specific aspects like trade-ins and add-ons, this report uncovers the ways that knowledge and preparation enhance the car-buying experience for consumers. These findings also reveal opportunities for the automotive industry to earn lasting customer loyalty.
Among 500 CarEdge Community members surveyed in October 2024, 87% reported being either “satisfied” or “very satisfied” with their vehicle purchase experience, far exceeding the 69% satisfaction rate reported by Cox Automotive’s latest industry survey. This higher satisfaction reflects the value of a well-informed buyer: 82% of CarEdge respondents felt fully prepared with the information needed to make an informed purchase decision.
The CarEdge Community’s sense of empowerment shows how buyer education can significantly impact satisfaction. Entering the dealership with an understanding of market conditions and financing options allows buyers to avoid common pitfalls, leading to more favorable interactions with dealers and less buyer’s remorse.
Price Expectations: Fewer Buyers Met With Sticker Shock
Price expectations play a crucial role in satisfaction. Among CarEdge survey respondents:
49% reported paying exactly what they expected.
15% managed to pay less than expected.
32% paid slightly more than expected, lower than the 49% reported in Cox Automotive’s broader survey.
These results highlight how empowered buyers with transparent price expectations experience fewer surprises when it comes time to finalize the deal. Transparent, data-driven resources bridge the expectation gap, enabling more accurate price forecasting and helping buyers secure deals with greater confidence.
BMW, Ram, and GMC Buyers Have the Most Dealership Loyalty
The CarEdge Car Buyer Satisfaction Survey revealed that dealership experiences play a pivotal role in fostering brand loyalty, with some car brands emerging as clear leaders in inspiring repeat business. Among the survey’s findings, BMW, Ram, and GMC ranked highest for dealership return rates, with more than three quarters of buyers indicating they would return to the same dealership for their next vehicle. This level of loyalty highlights a strong sense of trust and satisfaction among buyers of these brands, reflecting positively on dealership practices.
In contrast, brands with lower return rates underscore the importance of positive dealership interactions. Ford, Chevrolet, and Cadillac saw the lowest return intentions among survey respondents, with just one quarter of buyers expressing interest in purchasing from the same dealership again. These findings suggest that experiences such as transparency and pressure-free interactions play a major role in shaping loyalty
Dealership Loyalty: Room For Improvement
The dealership experience remains central to car buyer satisfaction. CarEdge’s survey reveals that:
69% would recommend their dealership to friends and family.
60% would consider returning to the same dealership for a future purchase.
17% reported they would not return to the same dealership.
While satisfaction levels with dealerships are high, a significant proportion of buyers remain cautious. This finding suggests that while most dealerships succeed in delivering positive experiences, more could be done to foster long-term loyalty by improving transparency, maintaining honest communication, and minimizing high-pressure tactics.
Persistent Pain Points: Trade-Ins and Add-Ons
While satisfaction with the overall car-buying experience is high, certain areas continue to cause buyer frustration:
Trade-Ins: Among the 222 respondents who traded in a vehicle, 20% reported dissatisfaction with the process, highlighting the need for fairer trade-in valuations.
Warranty and Service Packages: 14% of respondents reported dissatisfaction with warranty and service offerings, citing unclear terms or high costs as the primary issues.
Add-On Services: 20% of respondents felt pressured into purchasing add-ons such as extended warranties or accessories, with 13% reporting unclear pricing on these items.
Improving transparency in these areas would lead to better buyer experiences, as customers feel less pressured and more in control of the transaction.
EV Buyers Are More Satisfied with Their Purchase
The CarEdge survey also revealed that satisfaction varies by powertrain. Among all respondents, 5.5% had purchased an electric vehicle (EV), and EV buyers reported a higher overall satisfaction score of 4.7 compared to 4.4 for internal combustion engine (ICE) vehicles.
Notably, 48% of EV buyers had purchased Tesla models, and 76% bought new EVs rather than used. The data suggests that EV buyers, especially those opting for new models, are generally more satisfied with their purchase experience.
Conclusion: Empowered Buyers are Satisfied Buyers
The findings from the CarEdge Car Buyer Satisfaction Survey highlight the positive impact of a well-informed car-buying approach. Buyers who are equipped with clear expectations and market insights experience smoother transactions, greater pricing transparency, and higher satisfaction. This trend is beneficial for car buyers, dealerships, and the broader auto industry as transparency fosters trust and strengthens relationships.
Car buying can be overwhelming, but Deal School is here to help. CarEdge, led by father-son duo Ray and Zach Shefska, has updated the internet’s #1 free car buying course for 2024 and beyond. Designed to empower consumers, Deal School teaches buyers how to navigate the car buying process with confidence, saving money in the process.
Deal School consists of four comprehensive units made up of 22 individual lessons, each designed to prepare you for every step of your car buying journey. Here’s a breakdown of what you’ll learn:
Finding Your Vehicle: Discover how to assess your needs, set a realistic budget, and choose the perfect new or used car.
Getting Ready for the Dealership: Get expert advice on what to research and bring to the dealership to set yourself up for success.
How to Negotiate Your Car Deal: Unlock strategies to negotiate like a pro, whether you’re leasing, trading in, or buying.
Navigating the Finance and Insurance Office: Learn how to avoid costly mistakes by understanding financing options and F&I products.
Each unit concludes with a quiz to test your knowledge and ensure you’re ready for real-life negotiations. With CarEdge’s Deal School, the car buying process is not only simplified, but consumers also gain the confidence to negotiate smarter deals, keeping more money in their pockets.
What’s New in Deal School?
In addition to refreshed lessons with updated information and brand-new recorded lessons with Ray Shefska, Deal School 2024 introduces a free e-book filled with proven strategies to help you get the best deal on your next ride. This e-book is packed with insider knowledge, giving you a major advantage before stepping foot in a dealership. Print it off, take it with you, and shop for your next car with confidence.
Learn Car Buying Like a Pro
CarEdge’s Deal School is the go-to resource for anyone looking to buy a car with confidence. You’ll learn everything from car-buying secrets to mastering the art of negotiation and understanding financing. Once you complete the course, you’ll be ready to secure the best deal on your next vehicle purchase.
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Our concierge service costs $999 plus an optional shipping fee (based on distance or pick-up).
To get started, pay the one-time payment of $999 and a CarEdge concierge will start by negotiating the vehicles in your favorites.
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Our team of concierges and industry experts with 75+ years of combined experience with access to tools and data to leverage the best deal possible.
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