More than half of UK car buyers would prefer to finalise a finance agreement in person, despite growing interest in online finance tools.
A Codeweavers survey found that 55.4% of UK respondents favoured completing an agreement in person, compared with 15.1% who preferred to do so entirely online.
The findings suggest that dealerships remain important at the point of commitment, even when customers are comfortable researching vehicles and comparing payments digitally.
Half of UK respondents said they were comfortable checking monthly payment affordability online (50.2%) or comparing finance offers online (50.1%).
Nearly half (49.4%) were comfortable completing eligibility and affordability checks that way.
Among respondents who used finance for their most recent vehicle, 21% arranged it entirely online, while 33% combined online and offline steps. A further 40% arranged it entirely offline.
Customers want clearer costs across the buying journey
The ability to see which cars they could afford based on a monthly payment was the most valued feature of the buying process for UK respondents, selected by 50.8%.
However, 28.4% cited unclear total cost information as a challenge when researching a vehicle, while 21.6% found it difficult to compare finance options.
Customers also wanted continuity between a dealer’s website and showroom.
Consistent offers and pricing across both channels were valued by 44.8%, while 44.1% wanted to switch between them without having to repeat information.
Trust remains central to finance decisions. Some 94.3% said the reputation and trustworthiness of a dealer or finance provider was important, and 89% valued clear, transparent finance terms.
Asked about frustrations in the finance process, 31.6% cited too much paperwork or administration, 20.7% disliked repeating information across channels and 19% pointed to hidden or unexpected costs.
Finance interest exceeds recent use
Although 41.3% of UK respondents used finance for their most recent vehicle, 67.6% said they would be open to using it in future. Just over half, 51.5%, paid in full for their last vehicle, while 6.8% leased it.
Those figures should not be read as a forecast of future finance sales. Among UK respondents who would avoid finance, 56.2% said they preferred to avoid debt and 52.5% wanted to own the vehicle outright from the start.
Codeweavers’ findings were drawn from a survey of 5,000 car buyers across the UK, Germany, France, Spain and Italy.
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