Did You Get a Good Deal on Your Car?

Thanks the popular and controversial Cash for Clunkers program, and in spite of “The Great Recession,” many Americans have begun to build up the courage to buy a new vehicle, especially over the past month or two.

With the auto industry suffering from the recession and eager to move cars off lots, there are many good deals to be had.  That being said, with a most new cars costing at least $15,000, it’s not as if people have been, or should go into their next car purchase without having done plenty of research.

Based on recent data, it certainly appears as if many Americans were well informed the last time they walked into a car dealership.

According to a poll from GasBuddy.com, most people feel as if they got a fair deal — if not a steal — when they purchased their most recent vehicle.  When asked “How good a deal did you get when you bought your last vehicle?” here’s now nearly 17,000 people responded:

  • 39% said “I got a great deal”
  • 47% said “I paid about what it was worth”
  • 8% said “I got a lousy deal”
  • 5% said “I’m not sure/no opinion”
  • 1% said “I never bought a new vehicle”

Granted this time frame is a bit ambiguous.  For example, I answered “I paid about what it was worth” because I bought my car five years ago.  I’m sure if I were to go car shopping today, I would probably change my answer to “I got a great deal.”

Also, I’m sure there were some people who tried to justify their purchase by telling themselves they got a great deal even when they might not have, although, it’s pretty safe to say that there probably aren’t a lot of people who feel this way.

However, with 85% of people thinking they got at least a fair deal on their last car purchase, even without the slight skewing, the data almost overwhelmingly shows the negotiating power resides with the car buyer, not the car sellers.

What do you think?  Leave your thoughts in the comment section below.

Comments

  1. Hi Brian,

    My feeling is that most people will say they had a great deal because nobody likes to say they made a lousy deal. But again in these difficult times the car industry is having there are probably good deals to be had.

  2. I still do not see the reason to buy a new car!

    You lose so much money in depreciation.

    You can get a much better deal on second hand cars that are relatively new!

  3. It is exactly the same within the UK.

    We are being offered some excellent deals with the likes of Peugeot, Citroen and many more manufacturers offering up to £4000 discount of models over 10 years.

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