In some recent studies, both Ford and Lincoln websites haven’t fared terribly well compared to the competition, ranking below their respective industry averages in that regard. However, the same can also be said for automotive websites in general, as J.D. Power’s 2023 U.S. Automotive Finance Digital Experience Study recently found that most shoppers are unsatisfied with auto finance websites and apps used to manage auto loans and leases in general. As it turns out, much of that dissatisfaction may stem from the fact that those same vehicle shoppers want to complete more of the process online, according to Automotive News.
This bit of information stems from a new study conducted by auto finance software provider eLEND Solutions, which polled 350 automotive dealers last July and August. That study found that a whopping 94 percent of retailer stores believe consumers and dealers define transparency differently, and also discovered that 98 percent see “a gap between how dealers want to sell and how buyers want to buy,” according to eLEND Solutions.
“They want to know transparently that, ‘When I come into the dealership, everything that we negotiated online is reality,’ ” said Pete MacInnis, eLEND CEO. “The customer’s mindset is, ‘You give me the final terms of the deal … I’ll come to the store and authenticate the expectation.’ But the dealership approaches the deal as, ‘I’m going to give you enough information to get you to the store … Then I can sell you and I can close you.”
As a result, 93 percent of vehicle shoppers polled in this study said that they want to know what the final sales price of their vehicle and their monthly payments will be before they visit a dealership, though only six percent of dealers say they prefer to give customers those payment estimates prior to meeting with them and obtaining information from lenders, which creates a bit of a problem for both. “So, with lenders as an obstacle, dealers overwhelmingly are finding themselves caught between a rock – customers’ demand for deal transparency – and a hard place – less transparency from lenders,” eLEND wrote.
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Comments
I can confirm from my experience that the Licoln website is the worst of them all. By far!
Fixed pricing is a horrible idea. If you aren’t good at negotiating then you are free to pay the sticker price. Easy.
No one is talking about fixed pricing here. What’s being talked about is transparency. I call a dealer and ask how much an F150 is and they say something like “when can you come in and discuss it” The problem is people don’t want to come in and discuss it, they want to talk about it now.
I’ve had the same problem and hated shopping for a new vehicle last year. I want to know the bottom line price not the sale price then they add on a bunch of fees. I had one dealer tell me the $2,000 paint protection fee was negotiable but kept saying “when you come in and pick out a vehicle you can negotiate it with the manager” I didn’t want to negotiate after I spent unknown amounts of time there for them to negotiate $50 off.
Same thing when I wanted to know all of their fees up front and I kept asking for an out the door price and it was always a “well come on in and we can certainly work on those numbers.” No you can work on them now and I’ll see if it’s worth my time.
Eventually I found a dealer that sent me an email of a no BS out the door price I was comfortable with, I went and bought it with no hassle and I was walking out the door with keys 15 minutes after walking in.
We placed an order Sep 4 for a 2024 Ford Edge ST and still no details of when will be built.
Dealership experiences are pretty much terrible when buying. There’s a pervasive attitude of trying to take advantage of the customers, in as many ways as possible.
I’ve bought my last few vehicles remotely, from hours away. I’m not gonna drive to some dealer hours away without knowing what they’re going to want price wise.
The worst part of the modern experience is that dealers will advertise a price, and then slap you with a bunch of junk. Protection plans they claim you have to get, exorbitant doc fees, things like that are often several thousand dollars over what they show as the price online.