Most consumers prefer to complete the majority of their car buying online, but a large percentage choose to finish the transaction inside the dealership, according to a new study from Cox Automotive.
In Cox Automotive’s Future of Digital Retail study, the company found that 83% of consumers want to complete one or more steps of the purchasing process online. However, 89% say they want to sign final documents at the dealership.
In addition, 80% of consumers would never purchase the vehicle without a test drive. The survey finds that more people want to spend their time learning about the vehicle while in the dealership — rather than discuss the specifics of the deal. Six in ten consumers would still want help from dealership staff, even if they could purchase online.
The study finds that 85% of shoppers are more likely to buy from a dealership if it offers at least one component of the car purchasing process online. Cox Automotive draws the conclusion that car buyers want a “transparent, self-directed, personalized, no-pressure shopping experience” that can be completed in minutes.
For more content like this, attend the third annual Auto Finance Innovation event, slated for March 7-8, at the Parc 55 in San Francisco. For information, or to register, visit autofinanceinnovation.com.