Indexing 2+ Million “live” listings a day, CarGurus helps consumers figure out if a car listing is “under” or “over” its real regional market value.
CAMBRIDGE, Mass., October 27, 2010 — CarGurus® (http://www.cargurus.com/), a leading online automotive community, announced today that its DealFinder service has just added Regional Pricing to its offering.
Based on a daily analysis of 2+ Million “live” car listings as well as historic pricing models, DealFinder calculates what a car listing is really worth. This analysis includes factors for mileage, car model, car trim and options and then compares that “instant market value” to the seller’s listed asking price for the car. Consumers can then see first-hand if the car in question is above or below its real “instant market value.” Based on a consumer’s search criteria, the resulting car listings are ranked based on which cars offer the best savings (below the real “instant market value”). Consumers can quickly see which listings are “good” or “bad” deals.
Now, when searching for car deals, consumers can view the “instant market value” for a vehicle in their specific region (Northeast, Southeast, Midwest and Western). This arms consumers with even more geographically relevant data to determine if a price listed by a local seller is a good or bad deal.
For example, car shoppers looking for a used Toyota Camry in New York City would see results like this:
Consumers can click on the listing details to see the listed price for that vehicle from their local seller compared with the Northeast Average price for that car, and their calculated savings.
“There are many car listings sites on the web with which you can find hundreds of listings in your area. What consumers want, however, is information on which car is the best deal. Specifically, consumers want information on whether a given car is priced appropriately,” remarked Langley Steinert, CEO/Founder of CarGurus. “In these economic times, auto consumers are going online to find the best deals. Our DealFinder service tells you what a car is actually worth, and helps consumers determine whether or not they are getting a good deal from their local seller. Now we’ve added regional pricing analysis so consumers have even more information specific to their geographic region to determine how good of a deal they are truly getting.”
About CarGurus LLC and DealFinder
Located in Harvard Square, Cambridge, Mass., CarGurus LLC is a leading online automotive community founded by Langley Steinert, formerly chairman/co-founder of TripAdvisor LLC, the 2nd largest online travel site in the world.
CarGurus’ DealFinder is an online car shopping service that helps consumers find the best deals on new and used cars in their local area. Indexing over 2 million listings a day, CarGurus’ DealFinder analyzes each car listing and compares the listed price against historic pricing models to gauge whether the listing is a good deal or bad deal. CarGurus’ DealFinder helps consumers save time and money when shopping for a new or used car. For more information about CarGurus, visit us at www.cargurus.com.
Contact: Kerry Metzdorf, Plum Advisors