New research from Capital One reveals that the traditional in-person dealership experience remains crucial for car buyers, even as digital tools become more integrated into the early stages of the purchasing process. The 2024 Capital One Car Buying Outlook highlights that trust in dealers is a significant factor for buyers, with nearly half (48%) willing to visit a dealership with higher prices if they perceive it as trustworthy.

The report shows that 88% of car buyers complete at least half of their buying process in person, marking a 5 percentage point increase from last year. Additionally, 26% prioritize working with a trusted dealer over securing the best price. "The car buying experience calls for a unique standard of transparency and trust," said Sanjiv Yajnik, President of Financial Services at Capital One.

Transparency plays a vital role in building trust. The survey indicates that most buyers (52%) define transparency as clarity in pricing and financing. Digital tools are instrumental in providing this transparency by making information accessible to both parties involved. Despite progress, a gap persists between dealer and buyer perceptions of transparency; however, it has narrowed significantly compared to previous years.

Digital tools have transformed initial stages but have not replaced the need for physical visits to dealerships. Most buyers arrive informed about models and financing options, allowing them to make efficient use of their time at showrooms. The generational trend shows varied preferences: Boomers favor in-person purchases more than Gen X and Millennials, while Gen Z is showing increased interest in dealership experiences.

Capital One's surveys conducted by Morning Consult included nearly 2,000 U.S. adults who purchased vehicles recently and over 600 car dealers across the country. These findings provide insights into current trends and preferences among different generations regarding car purchases.

For further details on these findings or methodology specifics from Capital One Auto Finance through Morning Consult’s surveys conducted earlier this year visit [Capital One's website](https://www.capitalone.com/about/car-buying-outlook/).