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Consumers Want Lenders to Bid for Their Business, Study Shows

March 24, 2015
2 min to read


CINCINNATI ─ Swapalease.com released today finding of survey that questioned more than 2,500 U.S. drivers and car shoppers about the future of automotive trends. Among the study’s findings, the vast majority of car shoppers are not excited about car-sharing services or autonomous driving.


The online survey, conducted between Feb. 20 and March 15, also showed some key gender differences in how shoppers would like to see the automotive experience in the future.

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Both men (66%) and women (56%) would most prefer to identify the car they like and then have dealers submit their best bids. However, women (35%) are interested in “showtailing,” where they look at cars at the dealership but then buy/lease online. Men (33%) would like to buy/lease cars online without ever stepping into the dealership.


In terms of finance options, the combined genders (66%) would prefer to see all their financing and rate options online ahead of time. Separately, though, more men (45%) than women (27%) would be interested in lenders bidding for their business ahead of time.


As for leasing, the combined genders (51%) would prefer to select the lease package that’s right for them from a menu containing various options such as mileage and upfront money. Separately, most men (51%) would like to get out of any lease with a 90-day notice, while most women (54%) would like to lease month-to-month with no extended terms.


As for vehicle features, both genders agree that rear back-up camera systems (65%) and in-car Wifi (60%) are the tech features that will most influence their shopping decision in the future. However, lane departure warning systems saw a large difference, with 52% of men indicating the that as an influential technology as opposed to just 31% of women.


Additionally, both genders are not at all interested in using a car-sharing service such as Uber (43%) as well as autonomous driving (37%).

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“The automotive industry continues to evolve before our eyes, especially when it comes to the types of cars manufacturers are producing,” said Scot Hall, Executive Vice President of Swapalease.com. “We’d like to see the industry break out of the mold more when it comes to lease packages and more flexible terms, and this survey shows car shoppers would be in favor of some creative thinking on those fronts.”

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