Question of the Day: What's the average amount of time (in hours) a consumer spent shopping for a new car in 2019?
Answer: Almost 15 hours
- 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?
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.
Want to know what was the Best of 2020?...Here's our lists:
- Best of 2020: Arcade Games
- Best of 2020: FinCap Friday
- Best of 2020: Most visited Unit Pages
- Best of 2020: Questions of the Day
- Best of 2020: Most popular NEW! NGPF webpages
- Best of 2020: Top 10 Countries Using NGPF Website (outside U.S.)
About the Author
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.
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