How Long Does It Take To Buy a Car?

• The car buying process can range from a few hours to several months, with an average of around 15 hours, according to a study.
• Steps to purchase include reviewing finances, determining the purchase source, selecting a vehicle model, arranging financing, and finalizing the purchase.
• Online car buying can be quicker due to fixed prices, but it might extend if the vehicle doesn't match its description upon delivery.

Buying a car can take a few hours to several months, depending on how you approach the purchase. A recent study found that buyers spent around 15 hours on the entire process in 2022, up roughly two-and-a-half hours from 2021. Between new and used vehicles, buyers also tend to spend more time purchasing a used vehicle over a new model. 

Buying a car requires extensive time due to the various steps involved in the process. Below are examples of the main steps needed to purchase a vehicle—new and used—and approximately how much time you could spend on each step. 

Reviewing your finances

If you’re in the market for a new or used car, you’ve got to ask yourself quite a few introductory questions, many of them related to your finances. For example: 

• How much can I spend monthly on a vehicle, including an insurance policy, maintenance, fuel, loan payments, and upkeep? 
• What monthly car payment can I afford? 
• What interest rate does my current credit score support? 
• How do I want to purchase my next car (cash or financing)? 
• What fees should I budget for?
  
  

You can answer many of these questions by learning how car loans work, what credit score is needed to buy a car, and what a preapproved car loan means. Determining your budget remains critical in the car-buying process because it will dictate which vehicles you can consider and whether purchasing a car aligns with what you can financially afford. 

Determining the source 

Once you’ve worked through the numbers, it’s time to figure out where you’ll purchase your car from. Will you search for cars locally or seek vehicles outside state lines? This decision also corresponds with buying online, from a dealership, or through a private seller.

If you’re buying a new vehicle, you’re almost nearly limited to purchasing a model from the dealer. However, many car buyers save money by purchasing through a private party. You can also extend the reach of your search by relying on online sources to find vehicles for sale. 

Selecting your model 

Knowing you want to buy a car is one thing, but finding the right one is entirely different. In this step, consider what creature comforts you’re looking for, which features rank high on your priority list, and what you can and can’t budge on. Selecting the vehicle you want to purchase can require taking a few test drives and making notes. Savvy buyers will compare and contrast various makes and models in addition to model years to locate the whole package. 

Arranging financing 

Financing a vehicle requires finding a lender, obtaining approval, and paying off the auto loan. Buyers should narrow their choices to a handful of lenders and compare offers or quotes. Inquiries often affect your credit score, so it’s best to submit them all within a two-week period to reduce the impact these hard credit checks can have. 

Putting it all together 

Negotiating, signing paperwork, and seeing through all the logistics surrounding a car purchase can seem like planning a significant event. Indeed, the car-buying process culminates with final negotiations and signing paperwork in agreement with those decisions. If you’re buying from a dealer lot, taking delivery of the car symbolizes the end of purchasing a vehicle and the beginning of owning it. 

Speeding up the car-buying process can require determining what you want and setting up some parameters before you begin. Below are several ways you can buy a car faster. 

Solidify your selections 

Knowing precisely what you want and striking when you find it can help you simplify buying a car, though the process may take longer than expected. However, you can reduce the time needed to buy a car if you’re flexible with your needs and wants. For example, if you need all-wheel drive but want heated rear seats, you may have to settle for the first instead of waiting for the latter. 

Know your finances

Recognizing if you can buy a car with no credit or how much car you can afford with your credit score now puts you a lot further down the road toward your goal of car ownership. Lay out the stakes of the game before you begin to make better use of your time. As tempting as it might be to find the car you want and flex your finances to fit, you stand a better chance of making on-time monthly payments with a thought-out plan that incorporates your credit report. 

Plan your time 

Some buyers may prefer to research vehicles at their leisure, but scheduling time to spend on your purchase can help maximize your efficiency. Weigh waiting on a factory-ordered vehicle against purchasing a one- or two-year-old model. Consider arriving at the dealership early to take advantage of the day in wrapping up your purchase instead of spreading the discussion over several days. Will you wait for a vehicle that’s exactly what you want, or settle for one that’s close enough? 

Buying a car online can take a few hours to several months. Most online car sellers advertise a non-negotiable car price, simplifying the buying process. However, completing the paperwork and the purchase can take several back-and-forth communications with a salesperson. Since most vehicles bought online are purchased in good faith, the process may extend to several more weeks if the car doesn’t match the description and the buyer returns it or refuses delivery. 

Some buyers prefer to purchase a car online because they can find the type of car they want and reduce the amount of time they spend at the dealership. Whereas car dealerships may require proof of auto insurance before you drive away, you may not necessarily need this proof when buying online. Online car marketplaces, such as Carvana or CarMax, will also simplify your car shopping by purchasing your old car at the best price and applying any credits to your new car purchase. Many online car dealers also offer a warranty or other add-ons that can help protect your investment. 

For many buyers, purchasing a new car simplifies a portion of the car-buying process. Buyers typically want a particular model based on several factors, the least of which are the features and value the car represents. Some buyers may compare a new model to other new or used models to make a final decision, but the research time is often shorter with new versus used cars. 

One exception that can extend the time required to purchase a new car is buying a model straight from the factory. Ordering a car directly from the manufacturer may only take a few hours in the dealership after several hours of research online, but waiting until that vehicle is delivered can require several months. During the height of the pandemic, wait times for models expected to be available to customers extended well into the 12+ months range. 

Generally, used car purchases require more time based on the additional factors influencing a buyer’s final decision. Brand-new and same-model-year vehicles tend to have low mileage, but when it comes to used vehicles, mileage can (and does) make a massive difference in price. Rather than settling upon the newest model year, many buyers often compare used models to years previous to determine which is of the best value, both on the used car market and according to personal wants and needs. 

Trading in a car can take a few hours to a few months. It’s often best to pay attention to the used car market and trade in your vehicle at a time when prices are high. The actual process of trading in a car may require several hours to negotiate on price and incorporate that into the more extensive discussion of purchasing another vehicle. 

Signing the papers for a car can take under an hour to a few hours or more. The paperwork will take less time if you’ve already agreed upon terms, and you only need to review what’s in the contract to ensure compliance. However, paperwork can also take an hour or two if you want to review additional products the finance manager offers. 

If you pay with cash, you could potentially shave off a few hours from the car-buying process. Buying a car with cash can be faster than financing a car. Paying cash for the car eliminates the need to submit financial information, check credit scores and corresponding interest rates, and negotiate for the best car deal possible.