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Posts by Beth Burke

Jump-start the deal-making process and unlock new leads with CarGurus Convert

Posted by Beth Burke on April 22, 2021

We are excited to announce the launch of CarGurus Convert, our newest digital retail solution to help you jump-start the deal-making process by providing shoppers with the online experience they expect. More importantly, CarGurus Convert will help you connect with shoppers faster, unlock new low funnel leads, and strengthen your profit centers.

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Topics: cargurus convert, digital retail, financing, product updates

New Consumer Financing Study reveals shoppers’ desire for more financial transparency earlier in their path to purchase

Posted by Beth Burke on March 9, 2021

In November 2020, CarGurus surveyed 754 shoppers on their understanding of auto financing. Overall, the study found that shoppers want access to more financing information earlier in the shopping journey and they value being able to start the process online. Addressing the shift towards online financing will ultimately provide a better shopping experience for both consumers and dealers. Here are some of the key takeaways – and you can read the detailed findings here.

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Topics: consumer insights, financing, pre-qualified leads

Harnessing the power of Pre-Qualified Leads on CarGurus

Posted by Beth Burke on February 17, 2021

As the auto industry continues to navigate challenges posed by Covid-19, more and more car shoppers are turning to digital tools and resources for safer car shopping. Online financing, in particular, has become critical to dealership success. From January 2020 to September 2020, we saw a 78% increase in Pre-Qualified Leads1 on CarGurus, leading us to further invest in shopper education around the value of online financing and promotion of our Finance in Advance feature. This trend also aligns with recent consumer sentiment, with 52% of car shoppers saying that they now prefer financing online (compared to only 36% pre-pandemic).2 Beyond the obvious safety reasons, shoppers’ increased openness to financing online is also a result of their desire to save time and feel more financially prepared.

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Topics: CarGurus products, financing, pre-qualified leads

CarGurus shoppers’ credit applications now available in RouteOne

Posted by Beth Burke on December 17, 2020

CarGurus is excited to announce the launch of a new financing integration, which will allow our dealer partners to access, copy, and submit completed credit applications from your CarGurus Pre-Qualified Leads at no additional cost directly within RouteOne.  RouteOne is a leading provider of on-demand finance and insurance software, and is integrated with all major credit bureaus and over 1,500 financing sources.

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Topics: CarGurus products, financing, RouteOne

CarGurus helps dealers price confidently with IMV Scan

Posted by Beth Burke on November 25, 2020

You asked and we listened. CarGurus is excited to announce the launch of IMV Scan, a new tool that allows our dealer partners to use a VIN to get an estimated Instant Market Value (IMV) and receive a breakdown of the price ranges for each deal rating – all before adding the vehicle and price to their inventory feed. IMV Scan lives within the CarGurus app and is available to dealers who are currently enrolled in Enhanced, Featured, and Featured Priority packages on a trial basis.

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Topics: CarGurus products, IMV scan

What’s new at CarGurus? Quarterly product updates

Posted by Beth Burke on September 18, 2020

The CarGurus Product teams were hard at work over the summer, continuing to build new features and product enhancements that matter to our dealer partners. Here are the key CarGurus product improvements you can expect now, and in the weeks to come.

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Topics: area boost, CarGurus news, dealer dashboard, financing, IMV scan, marketing analysis tool, product updates, rpm

Highly requested features added to the Market Analysis tool

Posted by Beth Burke on August 24, 2020

The CarGurus Market Analysis tool has been relaunched with exclusive new data and dealer-requested improvements. Market Analysis insights are driven by shopper searches and monthly trends to help you make informed inventory acquisition and marketing decisions.

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Topics: CarGurus news, marketing analysis tool, product updates

COVID-19 Follow-up study offers a glimpse into the new normal of car shopping

Posted by Beth Burke on July 21, 2020

As a follow-up to the Consumer Sentiment Study we presented in April, CarGurus surveyed an additional 779 shoppers in June to see how their feelings toward car shopping have changed during the pandemic. Overall, the study shows that despite lingering near-term delays in car purchases, most sales are not expected to be lost in the long term. Here are the key takeaways for dealers – or you can read the full report here.

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Topics: CarGurus data, consumer sentiment, covid-19, Driving Difference