How relevant is price to the online shopper for a used car?

Jeff White

I know that it has always been said that price is down the list of things that are important to consumers when they are shopping for a car, but in today's car business has price moved up the list in order to start the conversation with a phone call, internet lead or even foot traffic?

Chris K Leslie

I wouldn't say price is down the list of things that are important. Price is one of the first things considered whether we choose to believe it or not. If price wasnt a factor I should have nothing but corvette and GMC Denali leads in theory. 

Jeff White

We are having some discussions about the importance of price and there are a couple different opinions on it. I agree with you that price may not sell the car or the appointment, but it at least starts the conversation, phone call or internet lead.

Adam Shiflett

What we saw in the DrivingSales Consumer Experience study is that price is a factor in the buying process, but maybe not in the way you'd think. 38% of buyers said they would stop considering a dealer if the prices were not listed on their website and 50% said they would leave a dealership if a test drive was required before they could get a price.

We found that price transparency is even more important than the price itself in influencing where people would by. This was not the top factor though, as referrals from friends were still the biggest factor of where people buy. 

You can download the full whitepaper here for the full study: http://drivingsalesuniversity.com/consumer-experience-whitepaper-download-4/

Clint Jones

I tend to agree with Chris Leslie and Jeff White on this.  I don't know how these surveys are done, but I have never bought into the studies that said price was down the list like 7th or whatever.  I believe that customers have the ability to filter out so many of their vehicle choices before they ever get to a negotiation or dealership visit.  

If price wasn't important, vAuto would not exist.  This is what is selling, this is the supply, and this is what to price it at if you want to turn it.  Their entire philosophy is based upon price.

A surveyed customer that purchased would perhaps say that price was down their list of factors, but I would bet they are referring to the vehicle that they actually purchased.  They already eliminated 90% of their considered dealers/vehicles BECAUSE of price.  

My opinion is that you better be priced aggressively or you will never realize how many potential customers are filtering you out.

Andrew Compton

99% of all questions can be answered by price.

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