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Customers Open To Replacing Test Drives With 14-Day Money Back Guarantee

Recent research from Auto Trader confirmed what many other similar studies have shown, that an increasing number of buyers are now happy to complete their car purchases online.

While the appetite for forecourt transactions remain, nearly a quarter (23%) of car buyers said they would prefer an online experience.  This could be either completing the purchase online and having the vehicle delivered to their home (14%), or alternatively, collecting from a pick-up point (9%).

The findings also revealed that out of the 1,900 people surveyed, 30% said their preference was for an unaccompanied test drive at the dealership, while 41% would rather conduct theirs off-site completely.

Auto Trader’s director of data and insight, Richard Walker, said:

“Based on the anecdotal feedback we’ve been receiving from many of our retailer partners over the last few weeks, the huge levels of demand we’re tracking in the market will come as little surprise. However, this research does highlight the opportunities for retailers to capture a greater share of demand by adapting their processes in line with evolving consumer preferences. Many buyers are now happy to purchase without a test drive if a money-back guarantee is in place. This is another example of the traditional barriers to buying online being removed for consumers with improved services offered by retailers. The old test drive format is no longer fit for purpose, with consumers demonstrating a clear preference for either unaccompanied or extended at-home test drives.”

For the full report please click on the following link https://www.am-online.com/news/market-insight/2021/04/30/money-back-guarantee-could-replace-test-drives-says-auto-trader