New study shows more than half of consumers report car buying is getting more difficult

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A new research initiative from car leasing comparison website Moneyshake has revealed that more than half of consumers are frustrated with the process of buying a new car. With an increasing number of different car finance options available, more and more car buyers are finding it a difficult task searching for a vehicle.

 

Fed up with searching for the best deal? Moneyshake finds you the best car lease deals, simplifying your search for a brand-new vehicle.

 

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Key findings

 
  • 57% of people find the process of getting the right deal on a new car frustrating.
  • One third of consumers stated that they didn’t purchase a car either because vehicle choice is too vast, or they were confused by which finance method to choose.
  • Nearly half (48%) of people know that changing their car will require time and effort.
 

The report highlights how most consumers feel alienated by the process of finding a vehicle, to the point where a significant number of people don’t bother getting a car. Many of these prospective buyers are pinning their frustrations on two underlying issues:

 
  1. A vast choice of vehicles, which makes it harder for them to streamline their options.
  2. Confusing car finance options – when faced with a number of complicated transactions, people are less likely to commit to buying if they don’t understand the finance method.
 

Getting the right deal on a new car is what most people struggle with, the study showed. Consumers need reassurance that a deal is right for them, which can only be done through taking the time and effort to research.

Another area that the business explored in its survey were opinions on what it was like to change a car which has outstanding finance. 40% of those that had changed their car in these circumstances rated the experience as difficult.

Comparison websites like Moneyshake are setting out to simplify the buying process using innovative technology to find consumers the best deal on a finance package that’s right for them.

 

“We conduct these research initiatives often and they help shape our business model. It’s clear that there are many people who need a better, faster, simpler solution to finding a new car. This summer we’re due to launch new products that will tackle these fundamental issues and bring the joy back to complicated transactions.”

Eben Lovatt, Moneyshake CEO
 

To find out how Moneyshake can get you the best deal on a new car lease visit Moneyshake.com.