In the U.S., most car buyers arranged financing or the lease for their last vehicle through a dealership, but many plan to take a different route next time, according to FICO's latest vehicle financing survey.
FICO surveyed 2,000 people in more than nine countries who financed or leased a vehicle in the past three years. Of those respondents, 510 were U.S. customers.
In the U.S., 63 percent of customers acquired financing at a dealership in 2018, according to FICO's 2019 Consumer Survey of Vehicle Financing. That's down from 73 percent a year earlier.
For their next ride, however, 28 percent of American respondents said they plan to apply online, while 32 percent said they would visit a bank or some other financing institution. Only 40 percent said they would inquire at the dealership, according to FICO, a Silicon Valley analytics software firm known for its credit scoring model.