This shouldn’t come as a surprise to anyone, but men and women are different, and this holds true when buying a vehicle. In this blog post, we illuminate a few differences between how men and women buy cars so your dealership can help each in their purchase journey.
New or used?
According to a survey by LendingTree, men are 57% more likely than women to buy a new car, with 28% of women saying they are likely to purchase new, versus 44% of men. Interestingly, women are 44% more likely than men to buy a used car, with 39% saying they intended to buy used versus 27% of men.
Technology versus practicality?
Research from Cars.com has shown that safety features like automatic braking are more popular with women than men, while men were interested in auto tech, such as Apple CarPlay and smartwatch integration.
It also noted women are more practical in their car searches, preferring brands known for their durability, reliability, and safety such as Honda and Jeep, while men searched image-conscious brands such as Lexus and Audi.
Women take longer to buy, or do they?
A statistic that is often quoted is that it men typically spend 63 days in their research, test drive, and purchase journey, whereas women typically take 75 days. But this is a nearly ten-year old statistic, and the pandemic has dramatically changed the vehicle buying process.
With more parts of the transaction moving online, consumers, especially women, feel more in control of the process. Women have traditionally felt more uncomfortable coming into a dealership than men, but since the pandemic, women have felt more at ease in the process without the pressure and gender bias of the dealership experience.
Takeaways for your dealership
- Male car buyers tend to prefer luxury and style and female shopper prefer practicality and safety.
- Men typically make purchase decisions faster than women so give female customers time and space to decide.
- Younger salespeople might be your secret weapon with female buyers, as millennials grew up with both parents working and sharing financial decisions and as such, they have distinctly different views about gender roles in car shopping.
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To learn more, contact us.