Trade-Ins a Sticking Point
Survey finds many consumers think they don’t get fair value and still seek transparent and fully online process.

In terms of the overall trade-in experience at dealerships, just 9% came away with a high level of satisfaction.
Pexels/Richard Taveira
Consumers’ frustration over what they get for trade-ins appears to be building, according to a recent survey by a car sales platform.
The DealNow poll found a scant 10% considered the compensation they received from dealerships for their old cars to be fair, while 40% believed they got a fair price by selling theirs independently.
The stark finding is all the more pertinent today, when many consumers are upside down on their trade-ins' loans.
In terms of the overall trade-in experience at dealerships, just 9% came away with a high level of satisfaction, said DealNow, which found that about 40% felt “somewhat” satisfied.
DealNow said its findings also showed that both dealership and third-party vehicle transactions are still lacking the full digital processes it said many consumers seek today.
"Consumers are wanting a full digital retail experience; however, the responses from this survey highlight how far the current dealership and third-party sites are from meeting the expectation," said DealNow CEO Brad Parker in a press release on the survey.
Originally posted on Auto Dealer Today
More Industry

World EV Adoption Set to Grow
A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.
Read More →
Black Book: Weekly Market Update
Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.
Read More →
Pricing Transparency Drives Purchase Consideration
An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.
Read More →
Black Book: Weekly Market Update
Used-vehicle market depreciation was the prevailing story in the wholesale market last week.
Read More →
Smaller Is Looking Better
A growing number of Americans in the market for a new vehicle are opting for more affordable options, not waiting for market stability to bite the bullet.
Read More →
U.S. EV Market Slowly Stabilizes
U.S. electric-vehicle interest is slowly stabilizing since a major dip in sales after last year's end of the federal EV tax credit, and hybrids remain the leading electrified power train.
Read More →
Global EV Market Entering New Phase
Automakers are making investments to lower battery costs and optimize production to meet changing consumer needs.
Read More →
Black Book Weekly Market Update
The holiday weekend, not surprisingly, put a drag on wholesale automotive activity last week, analysts observed.
Read More →
Auto Affordability in Context
Cox Automotive points out the complex circumstances that have led to eye-popping vehicle prices.
Read More →
Black Book: Weekly Market Update
Automotive auction inventory increased last week, giving choosy bidders even more leeway.
Read More →