Car Shopping Research Leaves Off Interest Rates

Key Takeaways

• Only half of shoppers research their expected interest rate before beginning the financing process. 
• When unexpected rates affect affordability, F&I guidance significantly improves customer satisfaction. 
• Digital retail tools help dealers build trust by clearly showing how rates, terms and payments impact affordability. 

Car shoppers have never been more informed than they’re today. But while they research models, trims and prices, they’re not as up to speed on what their monthly payment might be. When a customer is in the dark about the final interest rate, it can easily spoil a deal and turn a positive Sales process into an unpleasant visit in the F&I Office.

Half of Car Shoppers Surprised by Interest Rates 

According to the recently released CDK State of F&I at the Dealership 2026 study, half of shoppers (51%) researched the interest rate they expected to receive before visiting a dealership. This may seem like a generous number but it’s still far below the 77% of buyers who said they researched the car’s retail price. That means most buyers walked in not knowing

• What APR they might qualify for
• How that rate would impact monthly payments
• Whether their budget aligned with the vehicle they selected

Consumers often spend hours researching vehicle prices. They may make decisions on models and trims, and even cars on a dealer's lot, based on the retail price. But many stop short of understanding the financing side. This creates a gap between what shoppers think they can afford and what the actual monthly payment becomes once credit, taxes, products and lender terms are applied. For dealerships, this gap frequently shows up in the F&I Office as surprise.

Interest Rate Changes Can Unravel Purchases 

One of the strongest findings in the study highlights what happens when buyer expectations don’t match reality. Among buyers who were presented with a higher interest rate than expected, 66% said they had to restart their vehicle search because the original vehicle choice was no longer affordable. That’s two-thirds of customers who had to go back and choose a different vehicle — an unwelcome disruption for both the customer and the dealer.

Luckily for F&I managers, these buyers who restarted the process were actually more satisfied with the F&I Manager than those who had no issue with the rate. Over nine out of 10 (96%) buyers who restarted the process with an F&I Manager were satisfied. That far surpassed the satisfaction of buyers who went forward with the initial rate that was higher than expected, just 55%.  

This suggests that customers aren’t necessarily upset by bad news. They’re upset by feeling stuck. When the F&I Manager helps them work through the issue transparently, trust increases. When the customer feels pressured to accept an unaffordable payment, satisfaction drops sharply.

Digital Retail Tools Turn Uncertainty Into Trust

Digital retail tools like CDK’s can bring the interest rate straight to the VDP (vehicle display page) meeting car shoppers doing their online research right where they are, the dealership website. Dealers can control the interest rates shown so they match that vehicle’s available rates. They also allow users to self-select their credit score and allow corresponding rates to populate.  

Once at the store, the digital presentation the salesperson works with the customer should look similar, easing any uncertainty about transparency. Wherever the tool is used, the buyer sees how a one-point change in interest rate affects monthly payment. They can compare a 60-month term to 72 months instantly. If a vehicle becomes unaffordable, they can explore alternatives before frustration sets in.

That level of transparency builds confidence, especially for buyers who came in without knowing what rate to expect.