- Although supply is still limited, car buyers are still not slowing down. A new survey of 3300 car owners in the US found that 35% don’t drive the car they want, and the remaining 65% say they’re willing to pay up to 39% more than MSRP to get the car they’re after. next.
- At current prices, this amounts to almost $19,000.
- Idaho car shoppers are so eager to get their hands on a particular vehicle, they’re willing to pay up to 71% off the sticker price. Shoppers in the four states with the lowest percentage were only willing to pay an 11% increase.
The internet is full of tips to help car buyers not overspend on new purchases, but it doesn’t seem like enough are using them. Or perhaps the limited supply of new cars during the pandemic and the resulting thousands of dollars by dealers has led people to overspend.
Whatever the reason, people are paying higher and higher prices for new cars these days, and it turns out we’re not happy about that. Shocking. For most of 2022, the average price of a new car is about 10% higher than the official price, with the 15 most popular models all costing between 18 and 24% more than the home’s suggested retail price. manufacturing (MSRP), according to iSeeCars.
A new survey conducted by Quantrell automobile group out of 3361 car owners found that more than a third of them (35 per cent) said they had bought a car they had no intention of buying when they started shopping. The remaining 65% said they are willing to spend up to 39% on MSRP.
Thirty-nine percent.
Keep in mind that a group of auto dealers is behind the research and may be surveying people who are actually willing to buy, but still: Since the average price of a new car in the US is currently over $48,000, the results This survey indicates that many shoppers as a whole may be willing to spend up to $19,000 above the sticker price to get the car they want. While intent to pay is different from actually paying more, car prices are unlikely to fall if people continue to shop with that attitude.
Several automakers, including Hyundai, Kia, GM and Ford, have warned their dealers about applying steep discounts, threatening in some cases to shift allocations to dealers. do not collect too many buyers.
In some places, the cooling head came first
The nationwide survey showed significant variation between states. The state willing to pay the most for MSRP is Idaho, at a crazy 71% off the sticker. Four states — North Dakota, Rhode Island, South Dakota, and West Virginia — are willing to pay just a relatively healthy 11% of the MSRP. There may be some clues in the data as to where it’s easier to get the car. The four states with the lowest percentages of car owners driving vehicles they don’t want are Colorado, New Mexico, Oklahoma and Wisconsin.
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