Helps sellers answer the question “What’s my car worth?”
Pricing guidance based on live data from 2+ million active listings
CAMBRIDGE, Mass., November 29, 2010 — CarGurus® (http://www.cargurus.com/), a leading online automotive community, announced today the launch of a free car listing tool that includes “Instant Market Value” pricing guidance. Based on the analysis of 2+ million active car listings, “Instant Market Value” price guidance takes into account numerous factors including maker, model, year, trim, mileage, options and location to deliver an accurate, up-to-date valuation for consumers looking to sell a car online.
Unlike other opaque pricing tools, CarGurus’ “Instant Market Value” provides complete transparency as to the value of the seller’s car. Sellers are shown the four most relevant comparable listings that justify the suggested pricing as well as a graph that plots all the price points analyzed to derive the suggested pricing.
Consumers also get additional feedback on the relative merits of their chosen price. As the seller enters different price points for their car, they’ll receive instant feedback on whether their chosen price is a “good deal” or “bad deal” for buyers and where their listing will rank vs. other listings in their area.
Integrated with Free Listings
While the web offers numerous free auto listings services, CarGurus’ is the first to integrate free pricing tools in the listings process to help sellers properly value their cars. Sellers not only get a free car listing on a dedicated automotive site with 3+ million unique visitors a month but also free advice on pricing.
To get started, sellers simply click on: http://www.cargurus.com/Cars/sell-car/, plug in their zip code and then fill in information about their car. As they input this information, sellers immediately get pricing guidance.
“While free listing sites like Craigslist exist, they are not automotive-focused and don’t provide consumers with any pricing guidance,” remarked Langley Steinert, CEO/Founder of CarGurus. “Pricing a car properly will maximize anyone’s chances of selling the car as well as the seller’s eventual realized profits. With CarGurus’ free listings service, we are bringing full transparency to the process of listing and pricing a car.”
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