CINCINNATI—CUs each year should not expect a rush of auto loan business at the end of December as dealers offer year-end specials, a new study shows.
Swapalease.com surveyed 2,500 drivers during December and found that 32.6% of consumers actually believe car shopping for deals on the last day of the year is overrated.
But 12.4% of car shoppers believe carmakers’ special holiday-themed television ads influence consideration for specific brands. The report also shows that 4.5% of survey participants said they have purchased or leased a Mercedes-Benz as a result of the carmaker’s “Naughty or Nice” themed holiday television campaign.
The report revealed, too, that low gas prices were not a boon to overall holiday shopping, with 48.3% of respondents saying they were planning on spending the same on gifts as they did last year.
“We’re particularly focused on how people view the interest rates given the fact that we just saw the first rate increase in nearly a decade,” said Scot Hall, EVP of Swapalease.com. “Additionally, it’s good to see carmakers seeing success with their holiday television campaigns, which are clearly influencing shoppers toward a specific brand.”