Question of the Day: What percentage of car buyers say they feel pressured to buy extras or extras they didn’t initially want?

Add-ons, warranties and fees, oh my!

Answer: 34%

To ask:

• How can feeling pressure affect someone’s ability to make a smart financial decision?
• Why do you think people agree to extras they didn’t plan to buy, even when they know it will cost more?
• What strategies can a buyer use to resist sales pressure when making a large purchase?

Here you will find the ready-made slides for this Question of the Day that you can use in your classroom.

Behind the numbers (KPA):

“The survey shows that about a third of Americans have experienced issues such as mis-selling, hidden fees or dishonest salespeople. Yet more than three-quarters of Americans (76%) do not trust dealers to be honest about prices. Americans said the following…

• 34% have felt pressured to buy ‘add-ons’.
• 30% agreed on the price and when they went to sign the paperwork they discovered there were hidden fees.
• 28% felt like the salesperson was trying to ‘seduce’ them into a deal.
• 29% left one dealer and went to another because they felt they were not fair in their pricing.”

About the author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in mathematics and computer science. After joining the New York City Teaching Fellows program and earning a master’s degree in educational administration from Pace University, his teaching career took him to New York, New Jersey and a summer in northern Ghana. Dave believes financial literacy is essential to creating well-educated students prepared for a complex and highly competitive world. In the free time that two young daughters allow themselves, Dave enjoys video games, Dungeons & Dragons, cooking, gardening and taking naps.

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