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IRVINE, Calif. — In the second part of a recent survey consumer orchestrated
by CarFinance.com, respondents ranked negotiating the sales price as the worst
part of buying a new vehicle.

A total of 62 percent of individuals surveyed picked price
negotiating as the worst part of the vehicle-buying process. The snapshot
survey, which was conducted online among more than 2,000 consumers, also found
that arranging/negotiating financing ranked as the second-worst part of buying
a vehicle (57 percent) while getting the lowest possible interest rate (37
percent) and lowest monthly payment (30 percent) trumped other important
factors such as convenience and privacy or even getting approved.

"Despite a positive lending climate and a surge in new-car
sales this year, the challenges of getting the best price and interest rate
still preoccupy car buyers," said Jim Landy, chief executive officer of
CarFinance.com.

"These factors shouldn't roadblock someone from getting the
car they want, however," Landy continued. "A little bit of homework can really
help expand a consumer's auto purchase and finance options, especially in this
post-recession upswing."

When asked to rank the facets of their last vehicle buying
experience on a scale of 1 to 4 with 1 being best and 4 being worst,
respondents indicated researching vehicle makes and models and shopping and
test driving were the best at 66 percent and 60 percent respectively.
Negotiating the car sale/price and arranging/negotiating financing were ranked
worst at 62 percent and 57 percent respectively.

When asked what was most important regarding the auto
financing process, more than two-thirds of respondents said the lowest possible
interest rate and lowest monthly payment were most important (37 and 30 percent
respectively), above other considerations such as saving time, getting approved
or privacy.

The first segment of
CarFinance.com's survey discussed how auto refinancing is underutilized.
SubPrime Auto Finance News published the details earlier this month here.