When it comes to negotiating with a car dealer, what’s the comfort level of men and women? Swapalease.com, the nation’s largest online car lease marketplace, was interested to take the pulse of car shoppers around the country. According to their findings, women are now warming up to the negotiation process.
An online survey was presented to more than 1,000 drivers across the country from July 15 – August 10, 2014. The survey was intended to identify a variety of areas associated with the act of negotiating for a car purchase or lease. Swapalease.com has conducted a series of surveys and studies in 2014 to take a deeper look into the world of auto finance processes. The company most recently unveiled a side-by-side comparison of the costs and savings involved on a 72-month loan versus similar leasing options.
Among the highlights of the survey, more women car shoppers than men prefer to negotiate with a car dealer. In fact, a third of all women participants (33.3 percent) say “it makes it a fun process” compared to just a quarter of men respondents (25.1 percent). What’s more, 22.7 percent of men say they “have learned to do it, but really don’t like it” compared with 17.5 percent of women.
However, more men look to negotiate a higher dollar value off the MSRP of the vehicle. 81.3 percent of men said they look to negotiate $2,000 or more off the price, compared with 63.8 percent of women. And 20.7% of women said they look to negotiate $1,000 off the price, compared with just 9.9 percent of men.
Why is negotiating a difficult process when car shopping? 31.8 percent of men said they “feel like the dealer will always win”. While 36.8 percent of women said a similar response, an equal number of women also said they’re “not sure what a good/fair price should be.”
What’s their biggest negotiation tactic? The majority of both men (60.6 percent) and women (53.5 percent) said they like to have lots of information that they have researched beforehand. Interestingly, though, 22.4 percent of women also said they try to first focus on the monthly payment, compared to just 8.9 percent of men. Consumer negotiation experts largely advise to negotiate on the total price of the vehicle, not the monthly payment.
A complete list of survey results can be accessible by clicking here.
Photo by Docent | Shutterstock
Mia Guerra
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