Business
CarGurus’ New Digital Deal Solution Enables Dealers to Sell More Cars Through Access to Today’s Online Shopper
Digital Deal delivers purchase-ready consumers through streamlined online-to-in-store buying experience CAMBRIDGE, Mass., May 11, 2022 (GLOBE NEWSWIRE) --
About this update from Cargurus, Inc.
[{"type":"text","content":"Digital Deal delivers purchase-ready consumers through streamlined online-to-in-store buying experience\nCAMBRIDGE, Mass., May 11, 2022 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG) today announced an expansion in its automotive retail offerings with the launch of CarGurus Digital Deal, a retail platform that allows shoppers to build a personalized, near penny-perfect deal through dealers’ CarGurus listing page. The launch of Digital Deal brings greater efficiency and flexibility to both dealers and consumers, with dealers able to seamlessly integrate and customize their digital retail offerings with the CarGurus platform and consumers able to start their purchase from home. Digital Deal is the follow-up to CarGurus Convert, a 12-month pilot program launched in April 2021. Dealers in that pilot program sold cars more efficiently with higher quality leads that converted and closed at twice the rate of traditional leads, and consumers completing checkout had a 7x higher appointment rate. Dealers can combine the power and reach of CarGurus’ 31M unique average monthly consumer visitors in the U.S. with a new digital platform unique to their rooftops including F&I products, lenders, and more on their listings page. Digital Deal now allows dealers to seamlessly integrate: Increased financing functionality including a full credit application routed into Dealertrack or RouteOneFinancing with real rates1 from dealers' preferred lending partnersF&I protection products at dealer-defined markupsAppointment setting that drives traffic into dealershipDelivery scheduling options for dealers that offer out-of-market deliveryOptional $500 reservation deposit Digital Deal not only simplifies the process for dealers to work leads by integrating with Dealers CRM, RouteOne, and DealerTrack programs, but it also allows dealers to sell more cars through adding Area Boost. This solution enables them to sell outside their local markets and compete with national online retailers – adding Area Boost delivered CarGurus dealers up to a 120% increase in leads. Digital Deal listings are available to consumers nationwide today with hundreds of dealers enrolled. For a closer look at how Digital Deal works, click here. “What I like about CarGurus Digital Deal is that the leads are higher quality, tend to be more engaged in the buying process, and are closer to the...