2 Min ReadSeptember 4, 2024

Ease of Purchase Score Hits Record High in August

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.

93 shoppers said it was easy to purchase a vehicle in August 2024.

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.

Shopper feedback on finding the vehicle they hoped to purchase, discussing final price, trade in and credit.

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.

In stock vehicle availability was 52 percent in August.

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.

Time spent at the dealer.

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.”

Share This

David Thomas
By David Thomas
Director, Content

David Thomas is director of content marketing and automotive industry analyst at CDK Global. He champions thought leadership across all platforms, connecting CDK’s vast expertise to the broader market and trends driving our industry forward. David has spent nearly 20 years in the automotive world as a product evaluator, journalist and marketer for brands like Autoblog, Cars.com, Nissan and Harley-Davidson.

Recent Insights

Community College Recruitment Strategies for Your Dealership.

Community College Recruitment Strategies for Your Dealership

Recruiting people to staff entry-level positions at your dealership can be a challenge. Rather than posting a “help wanted” ad...
3 Min ReadDec 6CDK Global
Dealers Deliver on Customer Experience in November

Dealers Deliver on Customer Experience in November

Inventories hit some of their highest levels in years last month and the ability to find the car they wanted...
3 Min ReadDec 2David Thomas
Energize E V Sales This Winter.

Energize EV Sales This Winter

Winter is a unique time to sell cars, especially in cold climates. This year promises to be an even more...
5 Min ReadNov 22CDK Global
The Need for Speed. How A I Is Transforming Auto Dealerships.

The Need for Speed: How AI Is Transforming Auto Dealerships

In today’s fast-paced world, time is one of the most precious commodities, and nowhere is that more evident than in...
3 Min ReadNov 20Jessie Hammonds
Dealership Recruiting and Retention in the Age of Social Media.

Dealership Recruiting and Retention in the Age of Social Media

With the U.S. unemployment rate hovering just over 4%, auto dealership recruiting and retention are daunting challenges facing dealers of...
4 Min ReadNov 19CDK Global
New Research Highlights Impact of AI in Automotive

New Research Highlights Impact of AI in Automotive

AI in the automotive industry is no longer a trend. Dealerships are experiencing gains across their operations thanks to technologies...
2 Min ReadNov 13CDK Global
Shoppers Have Harder Time Finding the Right Car in October

Shoppers Have Harder Time Finding the Right Car in October

Disruptions in inventory, whether it was due to stop sales, model year turnovers or even natural disasters, seem to have...
2 Min ReadNov 4David Thomas
Why the Design of License Plate Frames Matters.

Why the Design of License Plate Frames Matters

There’s nothing wrong if a dealership wants a little promotion after they’ve made a sale. However, car owners often have...
3 Min ReadNov 1CDK Global
Yes Your Service Department Waiting Room Really Matters .

Yes, Your Service Department Waiting Room Really Matters

Whether it’s at the dentist’s office, the airport or a car dealership’s Service department, nobody enjoys being sequestered in a...
3 Min ReadOct 21CDK Global
Service Shopper 4

Service Shopper 4.0: Dealerships Gain Ground

Fixed Operations continues to be a major profit center for car dealerships. And the competition from independent repair facilities and...
3 Min ReadOct 17CDK Global