auto dealer in black and red logo
MenuMENU
SearchSEARCH

Trade-Ins a Sticking Point

Survey finds many consumers think they don’t get fair value and still seek transparent and fully online process.

November 6, 2024
Trade-Ins a Sticking Point

In terms of the overall trade-in experience at dealerships, just 9% came away with a high level of satisfaction.

Credit:

Pexels/Richard Taveira

1 min to read


Consumers’ frustration over what they get for trade-ins appears to be building, according to a recent survey by a car sales platform.

The DealNow poll found a scant 10% considered the compensation they received from dealerships for their old cars to be fair, while 40% believed they got a fair price by selling theirs independently.

The stark finding is all the more pertinent today, when many consumers are upside down on their trade-ins' loans.

In terms of the overall trade-in experience at dealerships, just 9% came away with a high level of satisfaction, said DealNow, which found that about 40% felt “somewhat” satisfied.

DealNow said its findings also showed that both dealership and third-party vehicle transactions are still lacking the full digital processes it said many consumers seek today.

"Consumers are wanting a full digital retail experience; however, the responses from this survey highlight how far the current dealership and third-party sites are from meeting the expectation," said DealNow CEO Brad Parker in a press release on the survey.

 

 

 

 

 

 

More Industry

Dealer Debrief 04/15/2026 with Lauren Lawrence
Industryby Lauren LawrenceApril 17, 2026

Dealer Debrief: Exploding Airbags & Risk Management

In this week's Dealer Debrief, host Lauren Lawrence covers a potential air bag ban and reinsurance and risk management.

Read More →
Sue Bai and Brian Bautsch standing on a road
Industryby Lauren LawrenceApril 17, 2026

Pilot Program Meant to Improve Roadway Safety

Honda and the Ohio Department of Transportation achieved highly accurate results with their pilot project the Honda Proactive Roadway Maintenance System that concluded this year.

Read More →
Line graphic showing Cox Automotive's March Credit Availability Index status
Industryby Hannah MitchellApril 13, 2026

Auto Lending Opens Up in March

Lenders loosened access for subprime borrowers, and consumers with negative equity reached a record high, Cox Automotive reported.

Read More →
Ad Loading...
Photo of the facade of one of Mercedes' new city studios, with a vehicle displayed in the window
Industryby Hannah MitchellApril 13, 2026

Mercedes Opens ‘Studios’ in Select Cities

The shops help mark the automaker’s beginnings 140 years ago and are to designed to offer major urban center consumers ‘exclusive’ experiences.

Read More →
rendering of outside of Ford's World Headquarters South connection to the new World Headquarters complex
Industryby Lauren LawrenceApril 10, 2026

Ford Expands HQ Facility Renovations

The automaker's renovated Product Development Center, World Headquarters South, will be connected to the World Headquarters complex it opened in November.

Read More →
Photo of white 2026 Ford Bronco on a sandy beach
Industryby Hannah MitchellApril 10, 2026

March New-Vehicle Sales Don’t Reflect War

Cox Automotive data shows Americans doubled down on big-is-better despite price increases. Slightly higher incentives helped fuel the demand.

Read More →
Ad Loading...
Dealer Debrief 04/08/2026 with Lauren Lawrence. Auto Dealer Today logo
Industryby Lauren LawrenceApril 8, 2026

Dealer Debrief: Loan Terms & Service Drives

In this week's Dealer Debrief, host Lauren Lawrence covers extended loan terms, a service technician initiative, and the DOWC Fix it Forward Program.

Read More →
front of Porsche Des Moines car dealership
Industryby Lauren LawrenceApril 2, 2026

Auto Group Acquires Porsche Rooftop

Family-owned and operated Ed Morse Automotive Group has added Porsche Des Moines to its Iowa locations.

Read More →
Photo of Lexus of Warwick car dealership exterior
Industryby Hannah MitchellMarch 27, 2026

Lexus Dealership Changes Hands

The addition of a coveted brand, picked up from Penske Automotive, makes 15 total stores for a family-owned auto group in the Northeast.

Read More →
Ad Loading...
chart showing the quarterly electric vehicle market share from 2020-2025
Industryby Lauren LawrenceMarch 27, 2026

EV Sales Slide While Hybrids Climb

California, as usual, led the country in EV registrations in the fourth quarter, but the U.S. as a whole saw a 43% year-over-year volume decrease.

Read More →