Here’s Why Few People Read The Terms And Conditions When Buying Or Leasing A Car

A while back we noted that a new-vehicle owner’s manual can often take as long to read as a thick hardcover novel. With cars, truck, and SUVs becoming ever more complex, these guidebooks become imposingly thick and mind-numbing tomes of what should be essential information. The worst in this regard was found to be the Audi R8 sports car, which would take longer to fully digest than the entire at a work-week overtime 43 hours and 9 minutes.

To be sure an owner’s manual includes details how to operate all the other key components, as well as warranty information and a model’s recommended maintenance schedule. While that’s all essential information, tell the truth most of it can be accessed on an as-needed basis.

Not so with the so-called terms and conditions one must agree to when buying or leasing a new car, truck, or SUV. Once the proverbial dotted line gets signed, a buyer or lessee is legally bound to honor whatever devils are in the details. Unfortunately, a Deloitte survey found that 91 percent of consumers will blindly accept any given product or service’s terms and conditions without perusing them.

As it is, it takes some kind of speed reader to fully digest what amounts to page after page of legalese while cloistered with a car dealership’s finance and insurance manager tapping fingers in anticipation of closing the deal.

That’s because not only are terms and conditions forms fraught with language the average shopper may not fully understand, they’re just plain too long to deal with in the first place.

According to a study conducted by the U.K. firm Hippo Leasing, one of the most voluminous in this regard, Volkswagen’s fine print is spelled out over 55,326 words and would take an average reader over 7 hours to examine. That’s twice as long as it would take someone to read Shakespeare’s Hamlet, and only about an hour less than pouring over Harry Potter and the Sorcerer’s Stone.

Hippo Leasing looked at 11 international car companies and determined that the average legal terms and conditions form extends to 27,606 words, which would take around three and a half hours to absorb, which is on a par with reading George Orwell’s Animal Farm.

Jeep’s leasing fine print was found to be a much shorter work of fine print, taking “only” 43 minutes to read, which is nearly 10 times less tedious than Volkswagen’s extended tome.

What’s more, not only are automakers’ legal documents longer than most consumers can digest in one sitting, they’re fraught with mind-numbing legalese that can be difficult to understand. Still, no matter how onerous an extended document of leasing legalities may be, the website suggests making an effort to dive deep into the details, especially those with regard to ownership and legal responsibility, cancellations, personal data privacy, and consumer rights.

“Terms and conditions can be long and sometimes feel irrelevant or an inconvenience, but the truth is that they are very important and should be read fully so you are aware of a company’s policy and your rights,” says Hippo Leasing’s head of sales, Rebecca Marsden. “If you fail to do so you could put yourself at risk of giving out your personal information unintentionally and even risk financial penalties if you break any of them.”

Here’s what Hippo Leasing found when its researchers began word-counting the legal terms and conditions forms from 11 global car brands:

• Volkswagen: 76,944 words; 9 hours, 52 minutes to read
• Ford: 48,545 words; 7 hours, 06 minutes to read
• Chevrolet: 39,907 words; 5 hours, 07 minutes to read
• Audi: 37,220 words; 4 hours, 46 minutes to read
• Toyota: 36,461 words; 4hours 45 minutes to read
• BMW: 21,604 words; 2 hours 46 minutes to read
• Mercedes-Benz: 19,897 words; 2 hours 33 minutes to read
• Tesla: 19,381 words; 2 hours 29 minutes to read
• Nissan: 10,375,words: 1 hr 20 minutes to read
• Honda: 9,350 words; 1 hr 12 minutes to read
• Jeep: 5,599 words; 0 hr 43 minutes to read

You can read the full report here.