Topic: financing

How to work with CarGurus shoppers who prequalified for financing

Posted by Sarah Pekala on May 25, 2020

Our product teams have been working hard to improve CarGurus’ financing feature, the latest way we’re helping you connect with low-funnel shoppers. With the improved financing feature, shoppers are able to prequalify for financing with lenders you already work with right from the VDP. Some reasons you’ll want to use the financing feature are:

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Topics: CarGurus news, dealer dashboard, financing

Will limited credit availability slow car sales this summer?

Posted by George Augustaitis on May 21, 2020

As states begin to reopen and CarGurus leads trend upward again, it seems we might be through the trough. These signs indicate that the US might soon emerge from the worst of the COVID-19 pandemic. However, we must be cautiously optimistic because it’s unlikely that the unemployment rate has reached its peak or that we are fully in recovery mode. And for the auto industry, there is an additional headwind on the horizon: credit availability.

While demand for vehicles is growing—US lead volume on CarGurus has nearly returned to the same level as February—the sales bounce back in the auto market may be tempered by the availability of credit.

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Topics: covid-19, credit, economic analysis, financing