A survey of automotive consumers found that the youngest shoppers in particular put a premium on the ease of shopping for finance-and-insurance products, in addition to budget considerations.

The poll of more than 300 recent shoppers, conducted by Protective Asset Protection in April, showed all generations have  familiarity with F&I products, or 82% of respondents.

Of poll participants, 17% bought maintenance service plans and guaranteed asset protection, and 18% bought vehicle service contracts or mechanical breakdown protection. Of those, 55% indicated they either used their benefits for repairs and that the coverage helped them save money or needed minor repairs and found the benefits somewhat helpful, according to the company.

About 19% of all respondents said the price of product payments moved them to buy F&I products, while 18% named overall budget, and 16% indicated the cost of repairs. But generations X and Y named those as their top three factors.

Generation Z shoppers, however, were most influenced by another factor. Of those respondents, 35% said the convenience of the F&I shopping experience influenced their decision to buy the most.

Across generations, 57% of respondents said they prefer to research F&I products online, then buy in-store, and 30% said they prefer to do both pieces online.

“By embracing the digital landscape, we ensure convenience and accessibility, empowering our dealers’ customers to make informed decisions on their terms,” said Travis Wools, vice president of marketing and communications for Protective Asset Protection.

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