I have a website I want to use my companies name as the domain. I went to godaddy and can have the name for $8/year. How do I replace the existing domain name on the website I have with this new one I am about to buy.

it sounds like you don't want to move your website. right?

if so, get the domain name and have your new domain name forward to the location of your old website. godaddy.com should have "domain forwarding" as an option to getting that domain account.

pretty simple.

roger

Thanks roger, that does sound simple. In the future if I want to move my website to another host, will I have to go thru godaddy and forward again?

Yes,
Think of it this way.
Each device on the internet has an IP address, or what you may think of as a phone number.

The name www.company.com just makes it easier to remember for humans.

Godaddy and others maintain databases that translate the name www.company.com into the address (IP address)

this is the address that all the hardware, including your computer actually use, at least at a high level, to get to where they are heading.

If that makes sense...you can have multiple names www.company.com
www.company2.com etc...all pointing to the same IP address.

You can also take the name www.company.com and point it at another address in the future.

This is all handled by your domain name service provider.
In your case, godaddy.

Rich