Survey Says

Capital One study reveals 74 percent of buyers aren't confident car shoppers

Eileen Falkenberg-Hull
Dec 2, 2019, 10:49 am

The car buying process is a hassle for most buyers, according to a new study.

Photo by Getty Images

Its a hassle that's been played out comically in commercials for years. The salesman and buyer decide on a price for a new vehicle and the salesman then heads to the back room where he's supposed to be negotiating with the finance team but instead makes himself a cup of coffee. Meanwhile, the nervous buyers sit and wait for what seems like hours.

It's no wonder that dealerships are the biggest pain point in the car buying process. A Cars.com study recently found that potential car buyers would rather clean toilets than go through the hassle.

A new survey by Capital One reveals the factors that lead to buyers' anxiety. To get the results, a survey of 1,004 U.S. adults ages 18 and older was conducted on behalf of Capital One Auto Finance using Engine Insight's Online CARAVAN omnibus in September 2019.

Capital One - Auto Navigator Infographic Graphic courtesy of Capital One

The results showed just how far dealerships still need to go to ease the process and how much educational opportunity there still is for buyers.

Only 26 percent of respondents said that they feel very confident when shopping for a car. This is a six percent increase over the 2018 results.

The lack of confidence came from three major areas:

  • 27% said it was because they did not have finances in order when visiting a dealership
  • 43% revealed that it was because of lack of research into the vehicle they're shopping for
  • 28% attributed the anxiety to past car buying experiences

In the 2018 survey, 16 percent of respondents said that they felt "like a boss" when car shopping. In 2019, that number rose to 24 percent.

"Car shopping should be enjoyable instead of stressful, and with a little pre-work, consumers can ensure their decision complements their lifestyle and budget," said Jeffrey Rabinowitz, managing vice president, Capital One Auto Finance. "We found that 88 percent of consumers surveyed understand what it means to pre-qualify for financing, but only half are willing to try it."

Financing is traditionally the longest part of the car buying process, which Cars.com says lasts around four hours on average.

While budget is the largest determination of which vehicle a buyer selects, 28 percent of Capital One survey responders said that they are also looking for the lowest monthly payment while 27 percent focused more on the final sale price. Just 20 percent of potential buyers said that they were concerned with the total cost of ownership.

Fifty-seven percent of respondents said that they are looking for improvements in the car buying process, especially when it comes to transparency in financing options, negotiations and more clarity on dealer incentives and promotions.

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Concept Car

Infiniti QX60 Monograph is a detailed plan of what to expect from the next-gen of the SUV

The design study gives customers an idea of what to expect out of the next-gen QX60

Photo courtesy of Infiniti Motors

It’s not the next-gen Infiniti QX60, but it is darn close. The Infiniti QX60 Monograph is a concept car and design study of the forthcoming new version of the three-row SUV.

"We commenced the design of the Monograph knowing this was an opportune time to start a discussion about where we are planning to take the QX60 in the future and more broadly, where we are heading as a brand with our design language'" said Alfonso Albaisa, senior vice president, Global Design, Nissan Motor Co. Ltd.

Infiniti QX60 Monograph Slim headlights and an athletic stance make the face of the SUV unique.Photo courtesy of Infiniti Motors

Consider it a detailed plan. Even Infiniti itself is relaying that the QX60 Monograph “provides tangible insight” into the new model from proportions to design elements. With the new QX60, Infiniti looks to not break the mold, which their buyers love, but instead refine what customers expect.

"In crafting this Monograph, we wanted to change the tonality of the QX60 and transform the nameplate from a sculptural and architectural point of view. We raised the visual center of gravity, giving it a strong, straight shoulder line that carries through to the hood, with a higher, more prominent grille, and longer-looking cabin to deliver a sense of muscularity and a commanding presence" Albaisa said.

The QX60 Monograph is more muscular than the current QX60, with distinctive athletic styling that sets it apart from the usual SUV crowd and gives it its own Infiniti identity. A long wheelbase, teardrop-like greenhouse, and sweeping lines give the SUV a new profile. A horizontal window line and wide backside are designed to give the concept a sense of poise and stability.

Infiniti QX60 Monograph The SUV’s grille features a fresh design.Photo courtesy of Infiniti Motors

Infiniti is showcasing the QX60 Monograph with a platinum plant color that mimics the qualities of liquid metal. It features a black roof that is on-trend for the current design environment. On top of the car is a panoramic roof that features a “kimono fold” pattern.

"The QX60 Monograph embodies the Japanese concept of 'Ma,' a sense of minimalism where designers seek harmony, adding just the right amount of elements with very specific meaning to create something special. This is evident on the body, where at a glance it is simple, but when you get closer, you see that there are elements that are playing against each other in a sense of harmony." Albaisa explains.

At the front of the SUV is a new take on the traditional Infiniti grille - a two dimensional surface that projects a sense of three-dimensional depth. It’s a mesh pattern that repeats on the car’s side intakes.

Infiniti QX60 Monograph Infiniti has given the SUV a black roof.Photo courtesy of Infiniti Motors

Infiniti calls the lighting at the front and rear of the SUV “Digital Piano Key” technology saying that it projects a “futuristic appearance”. The taillights are tinted and appear to wrap around the sides of the vehicle. The lamps are accompanied by a glowing “infinite road” brand emblem.

Infiniti QX60 Monograph The model’s taillights appear to wrap around the vehicle.Photo courtesy of Infiniti Motors

The interior of the model was not shown and not detailed as part of this design study. It is expected that a thoroughly modern, new interior is on tap for the next-gen QX60.

The production version of the next generation QX60 is expected in 2021.

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Advertising

Hyundai returns to Sunday Night Football with new 'Tailback Tailgate' three-part series

Hyundai will appear as the sponsor of the Sunday Night Football Kickoff Show.

Photo courtesy of Hyundai Motor America

Football is back. Hyundai is returning as the presenting Kickoff Show sponsor of NBC's Sunday Night Football. The program has been the most-watched primetime TV program for nine consecutive seasons. Hyundai will have a presence on the show each week.

"Sunday Night Football is one of our signature sponsorships in generating brand awareness among the 20 million viewers each week," said Angela Zepeda, CMO, Hyundai Motor America. "We are focusing this year on our flagship SUV Palisade and showcasing its capabilities as the ideal tailgate vehicle with its three-row automatic folding seats, generous cargo space and loaded technology."

In seasons past, Hyundai has presented "Cover 2" and "Game Winning Drive" content campaigns. The "Cover 2" campaign featured a former player from both teams playing during a select Sunday Night Football game discussing their rivalry, what makes it special to them, and the fans while driving around the home-team's city in a Hyundai Santa Fe. One of the spots, shown below, featured former Pittsburgh Steelers wide receiver Hines Ward and former Baltimore Ravens safety Ed Reed.

"Game Winning Drive" featured similar matchups in the 2020 Hyundai Palisade three-row SUV. It featured NFL greats James Harrison, Jamal Lewis, Ty Law, and Antonio Gates.

For the 2020 edition, two former running backs will join together in a conversation around the game while enjoying cuisine from the home city that week. They'll tailgate using the new-for-2021 Hyundai Palisade Calligraphy Edition. "Tailback Tailgate" will air during "Football Night in America" leading into three Sunday Night Football games.

Additionally, Hyundai's presenting sponsorship of the kickoff show will include numerous branding elements, including logo animations, in-studio signage, and logo placements on the broadcast's countdown clock. Here's a sneak peek at those elements.

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