CarGurus is an automobile research and shopping website established in Cambridge, Massachusetts that helps customers compare local ads for used and new cars and contact vendors.
CarGurus is pronounced as one word that rhymes with ‘kangaroos.’
Table of Contents
What is CarGurus?
CarGurus is a website where private sellers and vehicle dealerships may sell new and old cars at low prices to car buyers.
Co-Founder Langley Steinart, who is also the Founder of Tripadvisor, started the automobile listings site in 2006.
The company reinvents automobile shopping by utilizing data analytics and proprietary algorithms to answer all of the questions that car buyers may have.
History
Langley Steinert, a TripAdvisor co-founder, established CarGurus in 2006.
Langley Steinert served as CEO until January 20, 2021, when CFO Jason Trevisan was designated CEO. The business began as an automobile community site where customers could post reviews and queries about local dealers, shops, and car kinds. Dealers expressed an interest in advertising on the site, so the company modified its business approach to connect dealers and consumers by putting inventory on the site.
From 2009 to 2011, the company’s monthly visitor traffic climbed from 9 million to 21 million.
Business
CarGurus is a website for automotive research and shopping that allows users to compare local listings for used and new automobiles and contact dealers. CarGurus analyzes and compares automobile pricing and attributes using algorithms.
Users can perform local searches for specific vehicles and contrast listings based on features, price, and dealer reputation. The business also provides a discussion forum where vehicle fans and industry professionals may post queries, share their knowledge, gather and exchange information, and offer evaluations. The business maintains websites in Germany, Italy, Spain, Italy, Canada, and the United States.
Prior to its $150 million IPO on October 12, 2017, CarGurus was privately held. Steve Kaufer, co-founder and CEO of TripAdvisor, Greg Schwartz, president of Zillow’s media and marketplace, and Steve Conine, co-founder of Wayfair, serve on its board of directors.
2018 saw CarGurus pay an unknown sum to acquire the UK website and forum PistonHeads. 2020 saw the acquisition of the US auto listings website Autolist by CarGurus as well as a 51 percent investment in the wholesale vehicle marketplace CarOffer.
When legal action was threatened, the Rich Rebuilds channel changed its name, ending the company’s trademark issue with them.
How Does CarGurus Work?
Using mathematical algorithms, the business evaluates the available vehicles and ranks them from best to worst.
What CarGurus refers to as Instant Market Value is this ranking.
By examining comparable, current, and recently sold automobile listings in the car buyers’ location, it is determined. CarGurus calculates your savings by comparing the advertised price with the Instant Market Value.
When compiling these lists, the company also takes into account factors such as dealer reputation, accident history, options, mileage, and vehicle condition. When you generate a search, you’ll have the best matches to what you’re looking for because the IMV compares these characteristics across over 6 million listings. You can feel good about the price of the car because the top-ranked cars are always those that have been priced with the most customer savings.
Dealers with favorable ratings from other CarGurus shoppers also benefit from higher rankings.
The business provides a place for customers to submit evaluations so that you can feel confident about the dealer from whom you’re buying a car and that you are aware of what to anticipate from that dealer.
There are times when communication with dealers is sporadic.
Dealers and automotive shoppers are instantly connected with the aid of CarGurus.
You just need to enter your email address and/or phone number if you find a car that piques your interest.
The dealer will then handle the rest.
It has been noted in numerous evaluations that CarGurus is truly impartial.
It’s reasonable to believe that they are featured first because more than half of American auto dealerships pay to post their vehicle ads on CarGurus.com.
However, the business doesn’t think that just because a customer is paying, their vehicle should come first.
The top of the list will feature the finest offers from the best dealers.
How Does CarGurus Make Money?
Selling your car is not free, even though advertising it as a private dealer on CarGurus.com is.
When the automobile is sold, there is a $99 fee that you must pay.
Dealerships, on the other hand, are not as fortunate.
For a lead, the auto dealers must pay a charge.
It’s crucial to remember that the dealerships are just paying for leads to potential customers, not for a certain consumer.
CarGurus.com earns around $15 every time a customer contacts a dealer there.
Ads are the primary source of revenue for the business.
The links to websites where you may purchase a certain car are present on the website for a reason, so keep that in mind while you conduct your car research.
CarGurus is compensated by a number of advertisers for posting pertinent deals across the website.
The featured advertisements are maintained entirely apart from the other site content.
Therefore, you don’t need to be concerned about advertisements receiving special treatment.
And you may be confident that neither those advertising nor any fees are added to the car payment.
CarGurus: Is It Reputable?
It’s easy to claim that CarGurus is the real deal given that the website has more than 15 million visitors each month and that more than half of American auto shops use it to advertise their inventory.
The fact that CarGurus receives more daily traffic than AutoTrader, Cars.com, KBB.com, and Edmunds.com is even more astonishing.
You can sell a car with confidence, whether you’re a private dealer or an auto dealership.
Every dealer is protected up to $75,000 to guarantee the security of their online transaction.
Finance options are offered to buyers as well.
Can You Negotiate Price on CarGurus?
You can, of course!
And CarGurus is a resource to help you find the greatest deal.
On CarGurus.com, each listing includes useful details about the vehicle.
You may view the duration of the listing on the website, the price reduction, and the number of times other possible car buyers have saved the vehicle.
Therefore, CarGurus is available to assist you in negotiating, whether you enjoy closing deals or get anxious just thinking about buying a car.
CarGurus Locations
Cambridge, MA
CarGurus’ international headquarters are situated in one of the nation’s leading tech centres, close to Kendall Square and MIT.
Detroit, MI
Members of our advertising team that work with leading vehicle manufacturers are based in America’s automotive capital.
London, England
Located in the heart of London, Pistonheads is a CarGurus company.
Three adjacent train stations make it quite convenient to get there.
Dublin, Ireland
Our international business expansion team is located at our European headquarters.
How do I search for a car on CarGurus?
Desktop
Please fill out the form on the home page with your make, model, and zip code to begin your search.
Additionally, you can limit your search to just include cars that are being sold privately or that are CPO.
If you aren’t searching for a certain make, you can search by body style or price:
There are several filters on the left side of the results page on our desktop site.
Price, year, body style, fuel type, and features are just a few of the parameters you can use to narrow down your search.
You can save your search results after entering your selected filters by selecting the green “Save Search” button at the top of the page:
To sign up for email alerts for this search, click the blue “Subscribe” button at the top of the page:
Clicking on the heart to the right of a particular listing will also allow you to save it.
You may always change your saved searches, saved listings, or email subscriptions!
Check out their research page to read test drive and new car reviews (they have video reviews now, too).
Additionally, you can view customer reviews of certain brands and models on CarGurus.
To assist each potential customer in discovering the ideal car for them, they have carefully selected this content.
We also recommend that you read their tips on what to look for and their guidance on how to buy a used automobile.
Mobile
Open the app and enter the make, model, and zip code to begin your search:
You’ll see a “Filter Results” button at the top of the results page for your search:
Trims, features, fuel type, and other options are just a few of the parameters you can use to narrow down your search.
By selecting the “Save Search” icon at the top of the screen, you can also save your search and sign up for email notifications related to your search criteria.
Click on the three horizontal lines in the bottom right corner of the main screen and choose “Used Cars” if you aren’t looking for a specific make.
From here, you can perform a price and body style search:
If a certain listing piques your attention, click the heart icon next to the image, and you may return to it later in your “Saved Listings.”
Does CarGurus sell cars?
neither sells nor brokers the sale of cars on CarGurus.com.
They encourage you to get in touch with the seller via the contact form accessible on all of their listing pages if you have questions regarding a vehicle listed on their platform. They also give you access to information you can use to negotiate in the negotiation tab found beneath the listing photographs.
How do I contact customer service?
Calling 877-492-4737 or using the website’s chat tool are both ways to get in touch with their team. On Monday through Saturday, operations are open from 9 AM to 9 PM (ET).
How can I sell my car on CarGurus?
Click on the Sell My Automobile option at the top of the home page and follow the instructions to put your car for sale.
Entering your VIN is the simplest way to enter car information.
We will finish filling it out!
To ensure that your listing is competitive in your market, use our price tool.
Once your listing is complete, you may view its details from your My Cars for Sale page, change the listing’s photographs and price, and either close or renew the ad.
How long does it take to list a car?
Your listing will be processed in just a few minutes and made accessible for searches by potential buyers right away!
Please be aware, nevertheless, that you might need to show proof that you actually own your car.
This procedure could take two complete business days.
How long do I have to sell my car?
It’s important to remember that listings do end after 30 days.
Sellers can choose to prolong their listing at any time, and a reminder will be given when the expiration date is getting close. Before their ad is archived, sellers will have have thirty days from the closing date to reopen it.
CarGurus Pay
The private party digital transaction service provided by CarGurus is called CarGurus Pay.
They have dealt with thousands of car buyers and sellers over the years, and they are aware of how difficult private party transactions may be at times. CarGurus Pay is here to make your experience quick and stress-free, from managing paperwork to completing safe payments! Benefits comprise:
- Verified funds: We serve as a middleman to confirm the funds. This implies that you never provide the details of your bank account to a stranger.
- A Bill of sale: For both parties, we will create a bill of sale that can be electronically signed.
- Safe online transaction: We make a direct deposit of your funds into your account.
No need to take checks or cash. There are no bank visits.
(Note: Not all transactions may support electronic payment using CarGurus Pay.
What does CarGurus Pay NOT cover?
- Shipping: CarGurus Pay does not handle shipping arrangements; all of these must be arranged by the buyer or seller.
- Unreported mechanical problems: We always advise prospective buyers to obtain a pre-purchase inspection from a reputable technician!
- Deposits: CarGurus Pay will not be able to help in recovering the sum put down if the seller wants a deposit.
- The exchange of money away from the platform: When money is sent outside of the safe transaction platform, we won’t be able to mediate between buyers and sellers.
- Deals involving autos that have active liens: Vehicles where the seller does not have the title or has an unpaid amount with the lien holder are not eligible for the CarGurus Pay checkout services.
- Deals that call for funding: CarGurus Pay is unable to provide finance for private purchases, and our checkout services won’t be accessible if the buyer already has a loan from another source.
How does CarGurus Pay Work?
Included in the $4.95 listing fee for your vehicle is CarGurus Pay.
When you accept a buyer’s offer, you will be able to begin the checkout process immediately from your inbox. You must then give the following information:
- Your vehicle’s ownership status
- Your complete contact information, including postal address
- A valid US driver’s license
- Your bank information (If you plan to transfer funds through our platform)
What does it mean to have a vetted buyer?
A vetted buyer is someone who successfully uploads an ID that is now valid and legitimate according to third-party software. When a seller completes a vehicle sale transaction on CarGurus Pay utilizing our secure funds transfer function, we additionally authenticate the buyer by checking that the agreed-upon funds are accessible in their account.
Recognizing scams impersonating CarGurus
Invoices from private sellers or “Cargurus Financial Department” citing money transfer services. If you receive a questionable invoice or suspect a seller of fraudulent activity, please notify CarGurus Customer Service.
Follow these guidelines to help you identify and avoid fraud and scams:
- One of the most prevalent methods for people to become victims of financial fraud, ransomware, or worse is through email phishing.
Be wary of any email that promises a too-good-to-be-true deal, demands quick action, provides attachments or links, or requests personal information.
Never open a file or click on a link in an email unless you are positive that you know the sender and that the message itself makes sense.
- Be wary of any request for personal or financial information.
CarGurus will never send you an email asking you to confirm your account password or personal information.
- Never open or download files attached to unexpected emails, even if they appear to come from individuals or businesses you know.
- These attachments can infect your machine with malware, allowing it to steal your personal information, withdraw money from your accounts, purchase items on your account, and send scam emails to all of your email contacts!
- Be wary of pop-ups informing you that you must verify your account details, click a link, or download software.
Close your browser and enter in the company’s URL or use a familiar bookmark when in doubt.
- Scammers will try to contact you when you least expect it, including by text message.
Don’t click on links from people you don’t know, and don’t respond to them.
It’s best to simply delete these mails.
- Do not reply to phone calls requesting your account information.
CarGurus will never call you and ask for your password or financial information.
FAQs
What is CarGurus used for?
Langley Steinert, co-founder of TripAdvisor, launched CarGurus in 2006 as an automotive blog for consumers to rate automobiles and ask concerns.
It is being utilized as a platform for advertising used and authorized used autos.
Is CarGurus a legit site?
CarGurus is a trustworthy tool for determining automobile values and conducting extra unbiased research.
CarGurus does not hold a physical inventory, so you will be placed in touch with neighboring dealerships. Before visiting a dealership, you can be pre-qualified for finance online.
Are car guru prices accurate?
CarGurus changes its Instant Market Value based on data from over 150 metropolitan and rural auto marketplaces across the country. While the IMV can be used as a guideline for vehicle pricing, CarGurus emphasizes that it is not an official evaluation or guarantee.
Does CarGurus take a percentage?
assistance from a specialized agent a bill of sale created for you and the buyer to sign electronically the payments are safely placed into your banking account Please keep in mind that CarGurus does not charge a commission on the sale of your vehicle.
Who created CarGurus?
Langley Steinert is a business executive and entrepreneur from the United States. He is well known as the inventor of CarGurus and a co-founder of Tripadvisor with Stephen Kaufer. As of 2021, Steinert’s net worth is expected to be $522 million.
How does CarGurus UK work?
CarGurus provides unbiased insights into automobile pricing, dealer reputation, and vehicle history by utilizing proprietary technologies, search algorithms, and unique data analytics.
We establish a reasonable retail price for used vehicles based on a rigorous examination of comparable current and prior car listings in a specific market. I am a dealer.
Where can I advertise my inventory on CarGurus?
If you are a dealer interested in our dealership products, please visit their dealer sign-up page.
