Survey Results Reveal Consumer Buying and Leasing Habits, Preferences, and Shopping Needs
Swapalease.com, the nation’s largest car lease marketplace, announced today the results of a holiday shopping survey, revealing consumer shopping trends and spending motives. Respondents were asked about the types of vehicles they were shopping for, how they shop for a vehicle, motivating factors in selecting their next vehicle as well as their opinions on holiday automotive marketing.
Respondents were first asked how they typically begin shopping for a car. Fifty-one percent said they start by shopping online, while 23% said they visit their local dealer. However, when asked if they would buy or lease a vehicle entirely online if given the opportunity, only 13% stated they would do so. The majority (49%) said they prefer to shop online but visit the dealership for final negotiation and paperwork, while 38% said they prefer to shop only at the dealership.
When asked about the type of vehicle they were shopping for this holiday season, according to the survey:
Furthermore, holiday shoppers were asked if they planned to stay with the same make of vehicle they currently have. 43% of respondents said no they would not stay with the same brand, 39% said yes and 18% were undecided. When asked which automaker they trust over others, BMW, Chevrolet and Mercedes-Benz were the top selections.
Among other findings, roughly 63% of respondents think end of year sales for vehicles are better than other holidays such as Labor Day, and 54% admitted to purchasing or leasing a new car around the holiday season in the past three years.
Respondents were also polled on the features that are most important to them when purchasing or leasing a new vehicle. 23% said style and aesthetics was most important, followed by amenities such as keyless entry and leather seats (22%), safety features (16%), price of the vehicle (12%) resale value (9%), environmental impact (6%) and fuel economy (6%).
“It’s no secret that the holiday season is always the busiest time of the year for consumer shopping, spurring dealer incentives as they push to move 2019 models off the lot,” said Scot Hall, Executive Vice President of Swapalease.com. “It’s interesting to see the driving factors that are motivating shoppers to spend on vehicles, as well as changes in consumer buying habits each year.”
Online survey presented to more than 1,300 consumers throughout the United States from December 1 – 7, 2019.