Over two-thirds (69%) of buyers say they would consider using finance provided by dealers, according to MOTORS. The latest Consumer Insight Panel research polled the views of 2,000 car buyers.
Retailers include funding options as well as costs on their websites and 71% of buyers say this would make them more likely to consider finance provided by dealers.
Lucy Tugby, marketing director of MOTORS, said: “Although our research was completed before October’s Court of Appeal ruling on commission disclosures, the data highlights the importance consumers place on being able to finance their next car with a dealer.
“Furthermore, the propensity to use dealer finance increases when retailers provide their funding options online. Consumers value online visibility to help appraise their funding options and ultimately this improves their confidence to buy.”
However, 61% of buyers would keep an open mind about where they buy their finance, considering banks and other lenders.
In 2022, 28% said they bought their last car on monthly finance. Now, 35% say they have bought their last car on monthly finance.
Buyers expecting to use monthly finance for their next car has increased from 33% to 37%.
Interest in all-inclusive monthly car subscriptions which cover servicing, road tax, insurance and breakdown cover has grown from 42% to 47%.