CarGurus Review
CarGurus is one of the largest online used car marketplaces. If you are looking for a way to sell your car privately, CarGurus offers one of the largest audiences, with over 30 million visitors to the website each month. In addition, when you sell a car on the platform, you can set your own prices and negotiate with potential buyers, enabling you to get the best possible price for your used car.
Pros
- Quick payment processing time – after handing over your vehicle to your buyer, Cargurus will release payment to your bank account in 3 working days.
- Find out the market value of your car – the platform’s Instant Market Value calculator lets you know how much your car is worth in just 2 minutes.
- List your car for sale in under 5 minutes – all you need to do is upload photographs of your car and provide some basic information about it.
- Up to $75,000 in protection for your sale – when you sell your car on Cargurus, you can rest assured that you will receive payment from your buyer.
Cons
- Relatively high fees – it only costs $4.95 to list a car for sale on the platform but you will need to pay a $99 fee but only if your car sells.
- High competition – there are thousands of other vehicles on the platform. You may need to pay $19.99 for a featured listing to sell your car faster.
Best for Older & Damaged Cars
Buys used, damaged or junk cars
Free tow and no hidden fees
Pays by ACH trasfer or check
Top Pick for Junk Cars
Free, no-obligation cash offers
Offers free paperwork service
Pays on the spot upon pick up
Highly Rated by Customers
Excellent customer service ratings
Honors guaranteed offer for 7 days
Can pick up a car within 48 hours
Great for Low-Mileage Cars
Gives a real offer in 2 minutes
100% hassle-free online process
Free car’s Value Tracker available
How Does CarGurus Work?
CarGurus allows you to;
- Prepare your car for sale and list it
- See real offers from real buyers
- Have potential buyers contact you through the CarGurus communication system anonymously
- Close the deal and get paid
The CarGurus platform utilizes data analysis tools, unique algorithms, and strategies to provide the best car listing platform and carry out the vehicle search process fairly. These algorithms are otherwise known as Instant Market Value or IMV. It’s basically a ranking system that strives to list the cars in the slots that they deserve.
How CarGurus Calculates The Price
Whenever you upload the data related to your car on CarGurus, the platform calculates its estimated price by comparing it with other listings of the same vehicle. It considers all the current and previous listings before coming up with the final figure.
Additionally, other variables related to the car and dealers play a huge part in the pricing process. These variables include:
- Accident history
- Condition of the car
- Mileage
- Dealer reputation
Dealer reputation plays a major role in the listings. It represents customer interaction with the dealer. Whenever you buy a car from a dealer, you get to rate your experience with the dealer on the platform. CarGurus customer reviews combined with other variables mentioned above translate into the final quote for the car.
IMV runs algorithms for more than 6 million cars in the same category before providing you with an estimated value.
There is a common misconception that CarGurus favors big dealerships. But it’s not the reality. Many CarGurus reviews from customers clearly state that CarGurus listings are unbiased. It doesn’t rank dealerships on top just because they pay money. Dealer reputation and ratings are the sole deciders for that.
How Much Can You Get for Your Car With CarGurus?
While how much you can get for your car with CarGurus depends on the vehicle’s type, make, and model, you can expect to make between $1,000 to $200,000.
Who is CarGurus Best for?
CarGurus is designed for users who want to sell their cars and make extra money. It’s also meant for those who want to compare the listings for used and new vehicles before contacting sellers.
How to Sell Your Car With CarGurus?
Here is a step-by-step process of selling your car with CarGurus.
Step 1: Do the Paperwork
Compiling all the documents related to selling your vehicle should be the first thing you do. Most of the time, sellers neglect it and leave it for last. Gathering the documents can be hectic if it is not done carefully. Therefore, you should prepare all the documents before doing anything else.
Here’s the list of the documents you’ll need to prepare to transfer the vehicle into the buyer’s possession safely:
- Title transfer form – the first thing that the state requires you to do while selling your car is to prepare the title transfer form. All you need to do is visit your state’s Department of Motor Vehicles (DMV) and acquire the form. Provide all the information about yourself and the buyer. Pay the title transfer fee, and you’re all done.
- Bill of sale – you will need this document at the time of sale. When you receive your payment for the car, you can visit the DMV to prepare this form too. The form has information concerned with the seller and buyer. It may also include the date of purchase and purchase price.
- Release of liability – when the car is in your possession, DMV directs any liability or fine to you. Now that you are selling your car, this form will free you from the liabilities. The new owner of the car is now responsible for crossing red lights.
Step 2: Prepare Your Car for Sale
Just like you want to buy a clean car, others want the same too. A muddy, dented, and dirty car will convey a negative first impression to the sellers.
You need to prepare your car ahead of sale to make sure that doesn’t happen. Wash the exterior as well as the interior of the vehicle with much care.
Give special attention to the parts that matter the most during a test drive. If the car needs a paint job, you should give it a fresh new look.
Also, pay special attention to the tires, doors, and glass of the car. Make it spotless.
Step 3: Take Photos of Your Car
CarGurus is an online selling and buying platform where photos introduce your vehicle to the buyers.
Be honest about your car’s condition, as false advertisement and photos can surprise your clients and reject the deal. If the car has any dents or blemishes, include that in your photos too.
Take a lot of pictures from every angle. Choose the ones you like the most. Don’t edit or add filters to the photos as you are not promoting your car, you’re selling it. You can use a digital camera or a smartphone as long as the pictures taken are of high quality.
Step 4: List Your Car for Sale
Once you have gathered all the documents, and photos and prepared your car for selling, it’s time to list it on CarGurus.
Use the IMV analysis to compare it with other listings and get an estimated price for your car.
You’ll need to provide the following details of your car to create a CarGurus listing:
- VIN (Vehicle Identification Number)
- Specifications
- Location
- Description
- Photos
Once your car is listed, you can now add any additional information or photos to the collection. Next, potential buyers will contact you through the CarGurus communication system anonymously. Upon settling, buyers will visit you for a test drive. Bargaining is also an option to sell your car at an optimal price.
Step 5: Get Paid
After you close the deal with the buyer, it’s time to get paid. You can use the following options to collect your payment:
- Cash
- Bank check
- Escrow service
In case the buyer wants to give you a bank check, it’s better to conduct the deal at the bank. Cash is preferred and you can also use an escrow service for secure payment.
After you secure your payment, you can hand over all the documents and transfer the title to the buyer. Remove your listing from CarGurus to stop getting any notifications after selling your car.
What Types of Vehicles Does CarGurus Purchase?
CarGurus purchases both new and used vehicles, including BMW, Mercedes, Hyundai, Jeep, and more.
How Fast Can You Sell Your Car With CarGurus?
You can expect to sell your Car with CarGurus and receive the payments within three days.
CarGurus Fees: How Much Does it Cost to Use CarGurus?
CarGurus charges you as a seller on two occasions during the process:
- When you list your car at the CarGurus forum, you have to pay a $4.95 listing price. If you list multiple cars simultaneously, you’ll have to pay $4.95 for each listing.
- Secondly, when you sell your car and receive your payment through AUTOPAY, CarGurus charges you $99 for each vehicle. That is not applicable if you remove your listing before getting the payment.
| CarGurus Fee Type | CarGurus Fee |
|---|---|
| Listing fee | $4.95 per car |
| Payment processing fee | $99 (fixed fee) |
CarGurus Payment Options
Once you are through with the selling process, CarGurus will send the money directly to your bank account so you can receive the same within three days.
CarGurus Reviews: is CarGurus Legit?
CarGurus is a legitimate platform that allows you to sell your new or used vehicle. Having a rating of 2.7 on Trustpilot and 2.4 on Sitejabber, the website has generally been reviewed on average.
While some customers complain about CarGurus’ services, others praise the platform. According to some, it has helped them make extra money by selling their used cars.
Others were also pleased that you could complete the selling process fast. Unfortunately, some users complained about poor communication, payment system, and subscriptions.
| Website | Rating |
|---|---|
| Trustpilot | 2.7 |
| Sitejabber | 2.4 |
What Are the CarGurus Pros & Cons?
CarGurus Pros
- CarGurus is a reliable marketplace with unbiased car listings
- The prices generated through the IMV tool do not differ much from the nearby dealerships
- You can negotiate with the buyer
- Sell your car with peace of mind – you’ll get up to $75,000 in protection for secure, online transaction
CarGurus Cons
- You’ll end up paying $100+ in fees when your car sells
- You’ll need to wait for a buyer to show interest in your car
How Good is CarGurus Support?
CarGurus has a detailed support and knowledge base, including a frequently asked questions page, articles, and blogs that explain how to sell or buy a car. You can also contact its customer service by submitting the contact us form. The support can, therefore, be considered good.
CarGurus Review Verdict: is It Worth Selling Car With CarGurus?.
Overall CarGurus is an excellent platform to sell your used car online. Since CarGurus has more than 30 million new visitors monthly, it’s a great place to list your car and get it in front of a hot audience looking to buy used cars.
When it comes to finances, you’re free to price your car yourself and negotiate with the buyer. Plus, by selling your car with CarGurus, you can accept payment in your preferred method – through the CarGurus platform, or cash.
Taking all these points into consideration, CarGurus is a convenient platform to sell your used car online.
CarGurus FAQs
What is CarGurus?
Founded in 2006 by Langley Steinert, the co-founder of TripAdvisor, CarGurus began trading on the NASDAQ in 2017 under the symbol CARG.
As one of the largest marketplaces for selling and buying used cars online, the platform allows you to list your used car online and connect with potential buyers looking for a car for sale.
Today, the platform boasts over 30 thousand paying dealers on the marketplace, reaching 40.6 million users per month.
Fun fact: CarGurus is pronounced as a single word and is rhyming with ‘kangaroos’.
How do you get paid on CarGurus?
CarGurus offers digital payment options through linked bank accounts. You can also decide to accept cash directly from the other party without involving CarGurus.
Is CarGurus pay safe?
Yes, CarGurus pay is a safe method to handle your transactions. The platform advises you to accept cash. No third-party involvement makes the process much safer.
Does CarGurus charge a fee?
Yes, CarGurus charges two types of fees – a listing fee ($4.95) and a sale fee ($99).
Is CarGurus legit?
CarGurus is a legitimate platform that provides you with an opportunity to sell your car.
What details do I need to get an offer?
To get an offer, you need to provide a basic description of your vehicle, including VIN, mileage, color, and interior/exterior condition.