Buying a Car Remains a Hassle for Women

Recent Poll Shows Little-to-No Improvement From Prior Year Biggest Gripes: Time Consuming Process and Lack of Trustworthy Salesperson

RICHMOND, Va., Sept. 27 -- Buying a car remains a hassle for women, according to a recent poll conducted by CarMax, Inc. on the company's Web site. The retailer, which conducted a similar poll last year, asked more than 16,000 women nationwide about what was most lacking in their latest car-buying experience. Responses are summarized below:

  What Was Most Lacking?                       This Year's       Last Year's
                                                Responses         Responses
  A quick, effortless transaction                  21 %              22 %
  A salesperson I liked and trusted                16 %              16 %
  Clear, fair pricing                              14 %              12 %
  A fair trade-in value                            14 %              16 %
  Respect for/attention to my wants and needs      13 %              13 %
  A fair, reasonable finance rate                   7 %               7 %
  Understandable paperwork                          4 %               5 %
  Other factors                                    11 %               9 %

"I am not surprised that women continue to experience stress when buying a car," says Donna Wassel, regional vice president for CarMax. "Like most women, I am extremely busy juggling my career and family and I need things done quickly, without any hassles. The good news is that CarMax has streamlined the car buying process with our low, no-haggle offer on all elements of the transaction; our huge selection, our high quality standards; and our customer-friendly sales process. A CarMax sales consultant will help you through the entire sales process, with no hand-off to a finance or sales manager. The sales consultant is paid the same no matter which car you buy, making their only objective to help you find the car that fits your needs. We also carry nearly every make and model on our lots, which allows one-stop shopping."

  Wassel offers the following tips for women car shoppers:

  1.  To facilitate a quick, effortless transaction, be prepared by doing
      research and gathering your own paperwork.

Use the Internet to research vehicle types, makes, models, options, features, and prices. Visit carmax.com to see actual prices and photos of nearly every vehicle make and model. Print out fact sheets or information about the vehicles you are interested in, so you can remind yourself about what you want when you step onto the lot.

If you plan to buy a car, bring key paperwork items with you, including title and registration for your current vehicle, your driver's license, and insurance card. If you have been pre-approved for a car loan, bring the sight draft or approval letter with you.

  2.  To find a salesperson you like and trust, ask friends and family for
      referrals.  Look for openness and transparency in the transaction.

Look for a retailer that offers low, no-haggle prices and a la carte pricing on each part of the car buying transaction -- the vehicle price, the warranty, the trade-in, and the financing. Also, be on the lookout for extraneous, unexplained fees.

"Do not hesitate to ask questions -- as many as you need so that you understand exactly what you are paying for," says Wassel. "Ultimately, you should be prepared to walk away if you are unhappy with your car buying experience. This can be tough to do, especially if you have spent a lot of time on one lot. But, in the long run, it's worth it -- remember, you are the one who has to drive the car and make the payments, not the salesperson."

  3.  To help get a fair price on your trade-in, get your current vehicle
      appraised.

"Bring your current car to a CarMax store to get a free appraisal. CarMax is the only auto retailer that will make a cash offer for your car whether you are buying from us or not," says Wassel. "An appraisal provides an objective viewpoint on the value of a vehicle, separate from any other part of the car buying transaction. Having this information will help you understand the true value of your 'trade-in' before you start shopping."

CarMax, a Fortune 500 company, is the nation's leading specialty retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 55 used car superstores in 26 markets. CarMax also operates 11 new car franchises, all of which are integrated or co-located with its used car superstores. During the twelve month period ended August 31, 2004, the company sold 230,653 used cars, which is 91 percent of the total 252,169 vehicles the company sold during that period. For more information, access the company's Web site at http://www.carmax.com/.