Are you in the auto market? The process may seem simple: enter a dealership, test drive a couple of cars, and purchase the one which fits your budget, needs and desires.
However, it is more complex- you will have to process a lot of paperwork before you can zip away in your sweet new ride.
So how long does it take to purchase a car? This article will explore the average length of car purchasing and the factors that can lengthen and/or shorten it.
How Long Does it Take to Purchase a Car?
The average time to purchase a car ranges based on where you decide to purchase from: a dealership or used car shop.
To give you a better idea, if you choose to purchase from a dealership, it may take up to 14 hours, however if you buy a used car, it typically only takes between 1 to 6 hours.
This is because the used car acquisition process is limited to inspecting the quality of the car before payment.
Factors that Affect Purchase Time
There are other factors that can affect the time of purchasing a car.
First, consider car shopping. On average, people shop for 9 hours to find a car that suits their needs and wants.
Now, when it comes to purchasing cars in dealerships, three primary factors affect the purchase time.
The first two involve the type of financing that you use to buy the car of your liking. To give you a better idea, purchasing through the dealership takes a little longer than the bank.
If you purchase your car in a dealership, you may get better pricing for the car that you want.
Why exactly does it take longer to purchase a car or vehicle in a dealership? Well, there are a couple of reasons why. Here are some:
- Many car buyers arrive at the dealership unprepared. Many lack required documents such as proof of auto insurance
- Dealers have a strategy to drag the details out and tire the buyer, so that the customer agrees to extra add ons and features.
- Buyers are indecisive about the car that they want to buy.
Other factors that affect the length of time of purchasing a car include the following:
- Car shopping
- Car tests
- Price negotiation
- Filling out paperwork
- Purchasing the car itself
Tips to Decrease Your Time of Car Purchase
You can shorten a new car purchase by up to 3-6 hours. Prepare yourself with a proper budget and idea of the model you want before entering the dealership.
Also, ensure that you have the proper documents for your purchase. These include the following:
- Driver’s license
- Checkbook or credit card if you want a down payment
- Proof of car insurance
Since we live in a digitalized landscape, technology can also help to shorten the car buying process. You can purchase cars online through the use of car purchasing websites or car purchasing apps.
But that does not mean that you cannot rely on the old-school, traditional way of purchasing a car by going to a dealership, it just gives you a greater range of options.
There you have it! As you can see, the length required for your car purchase is subject to change based on your strategy and preparation.