Coloradans Willing to Pay More for Cars Than They Should?
It cannot be denied that a car, or a truck as seems to be the case out here most times, is basically essential in Colorado. Especially in 2022, because let's face it: walking is for suckers.
Unless you happen to live within about five minutes of everything you'll ever need (like, you're 21 and live above a bar), you're going to need a vehicle to get you somewhere at some point.
You may not know this, but cars are expensive.
Vehicles are some of the most costly items you're likely to buy more than one of, so you'd assume most people would be on the lookout for the best deals. However, according to a new survey from the Quantrell Auto Group, many don't bother.
Per the survey, which asked how much over the manufacturer-suggested retail price (MSRP) one was willing to pay, many Americans are paying as much as 71% more to secure a car they really want.
If you think that sounds ridiculous, you probably live in Colorado. Out here, we're only willing to pay about 14% more. Still a little much to me, but at least it's nowhere near Idaho and their aforementioned 71% overage.
North Dakota, Rhode Island, South Dakota, and West Virginia are the only states that come in under us, at a just-as-embarrassing 11%.
Oddly enough, this survey also looked at buyer's remorse in the country. I mean, who wouldn't be eternally happy with their product after paying 51% more than they should have for it? Looking at you, Utah.
What's shocking about this survey, is that there seems to be no correlation between buyer's remorse, and how much over MSRP respondents paid. For example: while willing to pay up to 71% more than they should in Idaho, only 36% of the people surveyed said they were driving a car they hated. Perhaps they're aware they got taken, and are trying to save face?
Here in Colorado, only about 15% of us are driving cars we hate. Seems low to me, but then again, I hate my car.