Understanding a car buyer’s behavior is crucial for dealers. Many buyers begin contemplating their next car after making just 18 payments on their current vehicle, despite potentially lacking equity for a trade-in. Additionally, the rising average service ticket of $521 plays a significant role in this decision-making process.

The average car buyer typically starts thinking about their next vehicle after making 18 payments on their current car. This indicates a pattern where consumers begin to seek out newer options even when they may not have sufficient equity built up in their existing vehicle to facilitate a trade-in. The allure of a newer model, with its updated features and technology, often outweighs the practical considerations of their current financial situation.

Moreover, the financial burden of maintaining a vehicle cannot be overlooked. With the average service ticket now at $521, the costs associated with repairs and maintenance can weigh heavily on a buyer who is still making payments on their current car. This financial strain can accelerate the desire to move into a new vehicle, as buyers may perceive that a newer car could potentially reduce their service costs and provide a more reliable mode of transportation.

In conclusion, the interplay between the timing of car payments, the desire for newer models, and the impact of service costs creates a complex landscape for car buyers. Understanding these factors can help dealerships and manufacturers tailor their marketing strategies to better meet the needs and desires of potential customers.

We recommend staying in constant contact with car owners during the ownership phase. This is something most dealerships struggle with. Fortunately, automated solutions exist to keep the dealership name in front of every customer to ensure more service work and a shot at helping that customer out of their car when the time is right.