The Problem: “I don’t know what I can afford.”
In traditional car shopping, consumers shop based on the total price of a car (ex. $25,000). I found that most costumers had a hard time equating such a large amount into their daily or monthly budgets. This led customers to become interested in cars that they couldn’t realistically afford.
The Process
In order to stop customers from finding cars they liked that they couldn’t actually afford, I wanted to create a search filter that educated consumers on how total car price translated to a monthly payment.
Sketched different ways for a customer to filter by monthly payment.
2. Created a prototype to test with customers and store associates
I tested the prototype with CarMax sales associates and customers who were visiting the store with my Product Manager and Lead Developer. (I’ve got to stop taking the pictures and be photographed for once!)
During this testing we learned:
Most people have a good idea of their credit (this went against our initial assumption)
Customers are sensitive about their credit and need to understand why it’s important to ask
Having price and budget as two separate filters was confusing
Sales associates and customers both found the tool educational and enlightening
The Solution
We landed on a tabbed approach so that customers could choose between searching by monthly payment or total price.
The Impact
Increased finance application approvals by 11%
More educated and qualified shoppers