Consumer Reports: Woman Less Likly To Research Used Car Prices

Study finds women also more likely to accept unnecessary dealer extras; CR Auto Price Service launches interactive Used Car Buying Kit to offer comprehensive online information package

YONKERS, NY January 13, 2005; Women are much less likely than men to thoroughly research pricing information before buying a used car, a nationwide survey conducted by the Consumer Reports Auto Price Service has found.

Only 69 percent of the women surveyed said they had used a variety of sources to research used car prices before making a purchase compared to 86 percent of the men surveyed, according to CR’s Auto Price Service study. The study also found that men are more likely to negotiate the purchase price than women—with 76 percent of men saying that they had negotiated compared with 68 percent of women.

“Consumers—no matter if they’re male or female—will be able to strike a better deal if they go into the buying process armed with detailed pricing information, said Rob Gentile, Associate Director of Consumer Reports’ Auto Price Service. “Don’t expect to get a great deal on a used car if you haven’t researched what a used car is really worth.”

Consumer Reports’ Auto Price Service findings are based on a nationwide survey of nearly 14,000 adults. The survey, which was conducted in 2004, investigated the buying behavior of new- and used-car buyers.

The Consumer Reports’ Auto Price Service study also found that:

Thirty-seven percent of women surveyed visited a dealership without doing any type of prior research, compared to just 29 percent of men.

Men are more likely than women (62% vs. 45%) to consider a particular make of used car. Sixty-two percent of men said they went shopping for a specific make compared with just 45 percent of women. Consumers over the age of 55 are also more inclined than those in the 35 to 54 age bracket to shop for a specific make (67% vs. 45%).

Men spent a median of one month researching a used car purchase, compared to a median of 2.2 months for women.

The Used Car Buying Kit gives car buyers comprehensive information package

The only independent and unbiased source of auto pricing information on the Web, Consumer Reports’ Auto Price Service is helping car shoppers buy a reliable used car at the best price, with the Used Car Buying Kit. An interactive Web-based one-stop-shop for consumers who want to feel confident that they will select the right, reliable car and that they will be able to negotiate for and get the best price, the Used Car Buying Kit allows consumers to easily pick and compare models that fit their preferences, and gives unlimited access to exclusive CR Ratings, reviews, pricing reports, and reliability information. More information about the Used Car Buying Kit can be found at www.ConsumerReports.org/usedcar.

Consumer Reports Auto Price Service provides all the pricing information—including information about customer and unadvertised dealer rebates and special financing incentives and the Consumer Reports Wholesale Price—and advice a consumer needs to get the best deal on virtually any new or used vehicle. Call the service toll-free at 800-395-4400 or visit www.ConsumerReports.org/carbuying to learn about the latest year-end deals.

Consumer Reports is one of the most trusted sources for information and advice on consumer products and services. CR has the most comprehensive auto-test program of any U.S. publication; CR’s auto experts have decades of experience in driving, testing, and reporting on cars. To subscribe to Consumer Reports, call 1-800-234-1645. Information and articles from Consumer Reports can be accessed online at www.ConsumerReports.org.