Knowledge is power, and that is becoming apparent as Millennials (ages 18-33) are arriving at car dealerships ready to make their purchases.
In a study released last week by AutoTrader that shocked no one, 95% of Millennials are turning to the internet as a primary part of the car buying experience. The internet generation, nearly 74 million people, is using the internet to shop for cars. This is shocking.
And they aren't just starting on the internet either. While 70% of the 18-33 year old age group aren't sure about what they want when they first start looking online, they have it completely figured out by the time they set foot on the lot.
According to Isabelle Helms, the Vice President of Research and Market Intelligence at AutoTrader, "70 percent of Millennials know what make/model they want and end up purchasing that make/model when they walk in to the dealership."
The Decision Is Made
For most dealerships, this means interacting with the customer needs to start even before they walk in the door. Helms continues on to say that "the dealership experience has to evolve with that. The consumer is educated; they know what they want. And when they visit they dealership, it's all about the test-drive experience. It's the test drive of the vehicle, but more importantly, it's also the test drive of the technology." This means that the sales representatives need to become more knowledgeable about the technological specifics of each model, and be able to demonstrate its advantages.
Millennials are coming in wanting to see the specific model that they looked at online; they have little desire in further exploring various makes and models after a decision is made. They want answers to the questions they couldn't find online.
Get Your Financing Online Before You Go
At Auto Credit Express, none of this is very surprising. We've been helping people people find auto loans for the poorest credit to the best for years and doing it online. We have a network dealers and lenders throughout the nation that can help you find a car, regardless of whether you're a first time car buyer with no credit or a buyer who is in a rough financial situation.
All you need to do to get started is fill out our secure three minute application. Then we will find you the dealer that can get you into the car you want. It's that simple; get started now!