About 39% of Americans who have bought a car report some form of
purchase regret, according to a LendingTree survey of 1,919 US car
owners. The most common regrets are choosing the wrong make or model
(14%), overspending (10%), and not shopping around (8%). Among recent
buyers the rate spikes to 47%, then decays to 24% for those who bought
six or more years ago. On the used-car side, CarGurus’ 2024 Consumer
Insights Survey found that 79% of buyers were satisfied with their
experience, implying roughly 21% dissatisfaction — a figure consistent
with the lower financial stakes and reduced depreciation shock of used
purchases.
The financial mechanism is straightforward. New cars lose roughly 20% of
value in year one, and the median new-car payment now exceeds $700 per
month. Buyers who stretched their budget are disproportionately
represented among the regretful: the LendingTree data shows Gen Z buyers,
with thinner financial cushions, regret at three times the boomer rate
(60% vs 20%). Used-car buyers commit less capital upfront and face lower
monthly payments, but trade certainty for risk — mechanical surprises and
higher maintenance costs are the primary pain points. Cox Automotive’s
2023 study found 49% of all car buyers paid more than expected, a figure
that cuts across both segments but stings more when the baseline price is
$48,000 (new average) rather than $27,000 (used average).
The 18-point gap is moderate and should be read cautiously. Neither
survey isolates new-from-used cleanly, and the CarGurus figure is a
satisfaction inverse rather than a direct regret measure. The directional
signal — that committing more capital to a depreciating asset generates
more regret — is plausible and consistent across data sources, but the
pattern is closer to balanced than strongly one-sided.
Sources: action
Claim ledger
Every number below is what each source reported, with the verbatim quote we relied on and how we arrived at our figure. Click any link to verify directly.
[1]LendingTree — Nearly 4 in 10 Who Bought a Car in the Past Year Have Regrets
Primary study
39% of Americans who have bought a car have regrets about their purchase; 47% of those who bought within the past year regret it
Excerpt
“"Nearly 4 in 10 (39%) Americans who have bought a car have regrets about their purchase. Among those who purchased a vehicle in the past year, 47% had regrets, but this decreased as ownership terms lengthened, reaching a low of 24% for Americans who bought a car six or more years ago."
”
Source data from
2024-02-14
Accessed
2026-04-26
Calculation
LendingTree commissioned a Qualtrics survey of 1,919 US car owners in December 2023. The 39% figure covers all car buyers (new and used combined). The survey did not cleanly separate new-only from used-only regret rates. We use 39% as the action-side rate because the most common regrets (overspending at 10%, wrong make/model at 14%) disproportionately affect new-car buyers who commit more capital. Among recent buyers (past year), the rate rises to 47%.
[2]Cox Automotive — Cox Automotive's Car Buyer Journey Study Shows Satisfaction With Car Buying Improved in 2023
Primary study
69% of consumers were highly satisfied with the buying process in 2023, up from 61% in 2022; 49% paid more than expected
Excerpt
“"The 2023 Car Buyer Journey Study presents a noteworthy increase in overall satisfaction, with 69% of consumers being highly satisfied with the process compared to 61% in the 2022 study. Regarding the price paid, 49% of buyers report paying more than expected, down from 54% in the 2022 study."
”
Source data from
2023-12-05
Accessed
2026-04-26
Calculation
Cox Automotive's annual Car Buyer Journey study tracks satisfaction across the full buying process (new and used). The 31% not-highly- satisfied figure is consistent with LendingTree's 39% regret rate given different question framing (satisfaction vs regret). The 49% who paid more than expected provides context for why price-related regret is common.
Sources: inaction
Claim ledger
Every number below is what each source reported, with the verbatim quote we relied on and how we arrived at our figure. Click any link to verify directly.
[1]CarGurus — CarGurus Study Uncovers Shift in Car Shopper Sentiment as Prices and Selection Improve
Primary study
79% of car buyers were satisfied with the overall experience in 2024; 35% extremely satisfied
Excerpt
“"79% of car buyers were satisfied with the overall car buying experience in 2024, with 35% being extremely satisfied. Buyer satisfaction increased from 2023 levels as prices stabilized and inventory improved."
”
Source data from
2024-12-17
Accessed
2026-04-26
Calculation
CarGurus 2024 Consumer Insights Survey. The 21% dissatisfaction rate is the complement of 79% satisfaction. This is a US-based survey covering both new and used car buyers but skewing used (CarGurus is primarily a used-car marketplace). The dissatisfaction rate serves as an upper-bound proxy for used-car regret, since dissatisfaction and regret are related but not identical constructs.
[2]LendingTree — Nearly 4 in 10 Who Bought a Car in the Past Year Have Regrets
Primary study
24% of Americans who bought a car six or more years ago still have regrets, versus 47% for recent buyers
Excerpt
“"Among those who purchased a vehicle in the past year, 47% had regrets, but this decreased as ownership terms lengthened, reaching a low of 24% for Americans who bought a car six or more years ago. Gen Z buyers report 60% regret versus 20% for boomers."
”
Source data from
2024-02-14
Accessed
2026-04-26
Calculation
The 24% long-term regret rate from LendingTree provides a floor estimate. Used-car buyers, who commit less capital and have lower monthly payments, likely cluster closer to this floor than to the 47% recent-buyer peak. The 21% CarGurus dissatisfaction figure is consistent with this range.
Caveats
Both sides now use US-based data, eliminating the prior cross-country confound. However, neither survey cleanly isolates new-only from used- only regret. The LendingTree 39% is all car buyers combined; we attribute it to "buying new" because the most common regrets (overspending, wrong model) correlate with higher-stakes new-car purchases. The CarGurus 21% is a satisfaction inverse, not a direct regret measure — dissatisfied buyers may not all experience regret, and some regretful buyers may still report satisfaction. The 18-point gap suggests new-car buyers experience moderately more regret, consistent with higher financial commitment and depreciation shock, but the pattern is closer to balanced than strongly one-sided. Generational effects remain large: Gen Z regret (60%) dwarfs boomer regret (20%) in the LendingTree data, suggesting financial stress and inexperience are stronger predictors than new-vs-used status. Survey data are drawn exclusively from United States samples; satisfaction and regret rates in countries with different institutional structures — consumer norms, pricing, and market structure — may differ substantially.
