Question of the Day: What's the average amount of time (in hours) a consumer spent shopping for a new car in 2019?

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Jan 10, 2021
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Question of the Day

Answer: Almost 15 hours

Questions: 

  • What do you think your process will be? 
  • Where is the bulk of this time spent? Do you think so much people spend so much time on that step? 
  • Do you think it's important to know how much you can spend BEFORE you start this process? Why or why not?
  • Almost 5 hours was spent visiting dealerships in the last 2 steps of the process. How do you think COVID has changed the car buying process when it comes to dealerships? Do you think this will be a permanent change? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Image from COX 2020 Car Buyer Journey Study and a recent article about changes due to COVID):

After COVID-19, consumers can now buy cars online as they do almost everything else, with the ability to complete the entire transaction digitally and take delivery without ever setting foot in a showroom.

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About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.