At CarGurus, we understand that financing is critical for dealerships so we’re thrilled to announce our partnership with Capital One Auto Finance, which brings even more ready-to-buy and financially-prepared shoppers to eligible dealers.
Through our partnership with Capital One Auto Finance, consumers will be able to get pre-qualified for financing on cars from dealerships that already offer Capital One financing. This experience creates a more transparent and efficient process for buying a car while allowing dealers to maintain financing flexibility in their dealership. Dealers will benefit by getting better-prepared customers who have more data about financing options and are ultimately closer to their decision on buying a vehicle.
How does it work?
Shoppers will see a View Financing Options button on eligible VDPs, which allows them to see if they pre-qualify, with no impact to their credit score, on cars from dealers that already work with Capital One Auto Finance. Pre-qualified car shoppers will see their rate and monthly payment on any eligible vehicle listed on CarGurus. They can choose to share their pre-qualification with the dealer, which will come to you as a CarGurus lead. Shoppers then complete a credit application at the dealership to finalize the financing terms for that vehicle in-store. With this program, dealers maintain full financing flexibility in their dealership, and compensation agreements with Capital One Auto Finance will not change as a result of this program.
The program will roll out nationwide in the coming weeks to the more than 10,000 dealerships that work with both CarGurus.com and Capital One Auto Finance. Dealerships that have questions about the partnership can contact their CarGurus account representative or email FAQ@cargurus.com.