Additional services include hot links to manufacturer Web sites and manufacturers' suggested retail prices. Incentives include preapproved financing, free classified ads and comparative pricing. A number of banks, credit unions and finance companies are offering preapproved auto loans through Web sites, promoting fast turnaround time and a range of dealerships to choose from. Some even allow customers to print out vouchers for financing to take to their local dealers when it's time to talk price. Location of the dealership may have a lot to do with the decision to create a Web site, said Spear.
Some companies are already there.
Microsoft's CarPoint features a new-car buying service that allows the buyer to select a car, negotiate the price and reduce paperwork before heading to the dealer. The free service makes all this possible in a matter of two days. CarPoint claims the price quoted will be the most competitive price the dealer can give, cutting down on haggling time. CarPoint works with a national network of qualified dealers with standards established by Reynolds and Reynolds, an information solutions provider for automotive and health-care markets. A handful of sites offer space for classified ads.