Ease of Purchase Score Hits Record High in August

CDK has tracked how easy car buyers say it is to purchase a car for over two years. Last month saw the highest score for the metric to date. More than nine out of 10 respondents (93%) said it was easy to buy a new car in August compared to 88% in July and 82% in August of 2023.

As inventory has returned, positive responses have crept higher, but what likely moved the needle most this month wasn’t inventory availability but less stressful price and trade-in negotiations.

Respondents saying that landing on the final purchase price was easy hit its highest level in August this month as well at 68%. It hit the same number in May but is up from 66% in July and far higher than August 2023 when only 56% of buyers said that step was easy. And while it wasn’t a record, 57% of buyers said that agreeing to the value of their trade-in was easy compared to 55% in July and 45% in August 2023.

Dealers are focused on their used car inventory, and trade-ins generally are the best source in today’s market. That may lead to a dealership offering a solid deal. In fact, in another recent CDK study, 25% of buyers said they actually got more for their trade-in than they were expecting, with 58% saying the price was what they had anticipated. Only 17% said they received less than they wanted. Roughly 40% of buyers in that study traded in a car.

Many of the other factors contributing to an easy purchase experience remained steady in recent months as has vehicle availability. The number of buyers who found the car they wanted in stock has stayed at or above 50% for the past seven months and came in at 52% in August. Very few people (5%) gave up and chose an alternate in stock, down from 7% last month and 11% last year.

Shoppers did visit slightly more stores than last month, with 77% visiting more than one dealership compared to 74% last month, which led to a similar drop in the number who said it was easy to find the vehicle they wanted, falling to 72% in August from July’s 75%.

One out of five buyers (20%) also said they spent less time at the dealership than they expected, up from 15% in July and 16% in August 2023.

When asked directly why they thought it was an easy process, respondents told us that a transparent and hassle-free experience was key with one explaining, “[It] was made easy by the dealership's efficient communication, straightforward paperwork and knowledgeable staff who guided me through each step seamlessly.”