Shortening the Car Buying Process
The average time spent in car dealer showrooms negotiating new car deals and financing agreements increased by 12.5% in 2012 over the amount of time spent in 2010. This amounts to 2-3 hours of back and forth with the saleperson, the customer, and often the manager before the customer is finally able to drive off the lot. This is despite the fact that over 80% have already spent an average of 18 hours researching prices and car models before even stepping into the dealership according to Google. This often results in very frustrated shoppers. Now more and more dealers are turning to digital solutions in an attempt to cut this time down and make car shopping a better experience for everyone.
In this video WSJ Eyes on the Road columnist Joe White takes you inside the car dealership and explains how dealers are trying to speed up the selling process to buyers.
With the wealth of companies working to shorten this process and deliver better price transparency to the auto industry the car buying experience should continue to get better and better.