Car buying was trickier in Dec., but satisfaction remains high

December saw a decline in customer satisfaction, with ease of purchase ratings falling despite an increase in sales.

Driving the news: Last month saw car shoppers flock to dealerships as holiday deals kicked in. But while demand was solid, 88% rated the purchase process as easy, down from Nov.’s 91% according to CDK Global. Frustrations rose across multiple metrics, especially in regard to financial matters.

• Sentiments around price negotiation dropped to 61% in December, a sharp decline from 71% in Nov.

• Meanwhile, only 49% of buyers found agreeing on trade-in value easy, back down to 2023 levels. In Nov., the figure was at 56%.

• Applying for credit also fell 5%, while completing financing dropped 8%. Customers also found it slightly more difficult to receive deliveries, with rankings falling by about two points.

Zooming in: Still, while customers gave lower approval ratings across a wide range of issues, Dec.’s average ease of purchase score of 88% is on the higher end compared to previous months.

• Shoppers completed their purchases faster than anticipated, with scores related to transaction speed rising 20% month-over-month and 21% year-over-year. Delays also declined from 31% to 24% compared to Nov. 2024.

• This helped make the overall purchase process smoother and contributed to Dec.’s relatively high rating.

• Inventory also played a role. Nearly half (49%) of buyers only had to visit one dealership, up from 45% in Nov. and a big leap from last year’s 36%.

• This is likely because more than half (54%) found their desired vehicle in stock, reducing the number of trips they had to make while making the experience more convenient.

What’s next: As 2025 kicks off with strong sales, dealers should keeping their inventory well-supplied and maintaining a swift transaction process. However, with ratings around prices and financing falling in Dec., incentives will be key to keeping customers happy in the coming months.

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