Women car buyers mean business
It’s a woman’s car-buying world out there. Women purchase more than 46 percent of all new vehicles and influence over 80 percent of all automotive sales, according to a recent study by CNW Marketing Research (CNW). That adds up to about $80 billion worth of business, according to a past female buyer study by Road & Travel. Car dealers, hear us roar.
If women are spending so much and have such power in the marketplace, then why is the car-buying experience considered to be a nightmare for many women? The number one complaint by women is that they are not treated well at dealerships, says Road & Travel. Many face prejudice, intimidation, pressure, and condescension. One problem is that some salespeople don’t know how to sell to, or even talk to women. Recognizing both industry shortcomings and tremendous sales potential, a number of companies and dealerships are marketing directly to women and/or sending their salespeople to seminars to help them connect with female buyers.
So, how can women take the driver’s seat at the dealership? Here are a few ways anyone can use their buying power and not get taken for a ride.
- Research, research, research!
Before you even step foot into a dealership, determine what type of vehicle you’re interested in, what important features or options you want, and the price you can afford. Research online at manufacturer sites, the local dealership Web sites, vehicle review sites, and ConsumerReports.org. Our unbiased Ratings and brand-new compare model tool, (available to subscribers) can help you sort through the data and find the best model for your needs.
If you do your homework first and walk confidently into the dealership armed and prepared, the salesperson will know that you’re not just interested in the color of the car. Plus, our experience has shown that you’ll likely know more about the car’s details than the salesperson. - Determine the target price
Learn the dealer invoice price, dealer holdback, customer rebates, and dealer incentives from information available online to calculate a good, fair deal before facing a trained negotiator in the showroom. Consumer Reports New and Used Car Price Service can save you time and stress by providing all the key pricing information in concise reports with a Bottom Line Price. With a printed report in hand, the sales staff will know you are informed and serious about buying. - Determine how you will pay
Before you head into a showroom, find out your bank or credit union’s loan interest rates and even get pre-approved. If the salesperson wants to compete for your business, you may be able to get a better rate at the dealership. Having the leverage to finance elsewhere will put you in a stronger negotiating position. - Don’t be pressured
If you feel pushed to buy or don’t like how you are being treated, you have the choice to ask for another salesperson or walk away. Ultimately, the salesperson wants to make the sale and they are there to serve you. If you don’t feel that they are helping you, there are many other dealerships who would welcome your business.
As both studies and my own first-hand experience show, car buying can be a much different experience for a woman than a man, but if you take your time and follow these basic car buying tips, you will be able to get a good deal on your own terms. Check out our step-by-step guides on new- and used-car buying for more information on how to get the most car, and satisfaction, for your money.
