Shopping by monthly payment isn’t just a Subprime behavior, according to the inaugural FlexPath DXP Automotive Shopper Credit & Payment Behavior Study. It analyzed observed behavior of 4,773 identity-verified, credit-tiered vehicle shoppers at participating dealerships from Jan. 1 to Sept. 30, 2026.
Key findings
- 8 in 10 Prime and Super Prime shoppers used Shop-By-Payment to shop by monthly budget, about as often as Subprime shoppers (78% vs. 80%).
- They were nearly 1.5 times as likely to prequalify for a specific vehicle (44% vs. 30%).
- 81% of their single-vehicle prequalifications began on search-results or vehicle-detail pages, versus 7.5% on finance pages.
- After prequalifying for a specific vehicle, 81.5% of Prime and Super Prime shoppers went on to use Shop-By-Payment (Subprime: 76.0%).
- 1 in 4 payment-shopping sessions began between 9 PM and 8 AM dealer-local time.
- “Prime shoppers aren’t just asking, ‘Can I get approved?’” said Tarry Shebesta, CEO of FlexPath DXP. “They’re asking what a specific vehicle will cost them each month. And once they see that payment, many want to know what else their budget can buy.”
Among 17,218 verified shoppers who engaged with FlexPath experiences at dealerships offering all three options, 89.5% used payment-shopping experiences rather than relying on general prequalification alone. These findings describe verified shoppers who engaged with the experiences, not all dealership website visitors.
“Payment transparency isn’t payment selling,” said Shebesta, who also serves as president of the National Vehicle Leasing Association (NVLA). “Whether a shopper leases or finances, a personalized payment should be presented alongside the vehicle price, APR, term, total cost and required disclosures. The payment shouldn’t obscure what the consumer is actually paying.”
