Survey: Many consumers believe private sale a better deal than trade-in

Car shoppers believe they’ll get a better deal for their old vehicle from a private buyer than from trading it in to a dealer or selling to a third-party service, according to a new survey by private vehicle transaction platform DealNow.
The online survey of more than 3,000 car shoppers across the U.S., conducted in September, found a mere 9.7% of them felt they “definitely” received a fair price at dealerships, while 39.8% believed they only received a fair price when selling independently.
Similarly, just 19.4% said they “definitely” received a fair trade-in value.
The survey also showed more than 40% of respondents believe they would “definitely” or “probably” receive a better price as sellers through private marketplaces.
It also highlighted the need for improvement in the dealership experience, with 9% saying they were “very satisfied” with their visit to a dealership experience and 39.8% were “somewhat satisfied.”
“Consumers are wanting a full digital retail experience,” DealNow CEO Brad Parker said. “However, the responses from this survey highlight how far the current dealership and third-party sites are from meeting the expectation.
“Those same consumers also seek value and transparency in their vehicle transaction. Private-party marketplaces empower them to find those on their own, and with the power of a secure transactional platform, they can avoid the fraud that is so rampant in the market, and close their own sale anytime, anyplace.”