CarGurus: 90% of used-car listings now include disclosed fees
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Just before the end of June, CarGurus announced a significant dealer policy change starting July 14 in response to vehicle advertising and pricing demands by the Federal Trade Commission.
Site officials previously said used inventory on its platform without disclosed fees will be categorized as “No Rating” and will move lower in search results.
CarGurus shared an update about the matter on Wednesday.
The company said that more than 90% of used inventory from subscribing dealers now includes disclosed fees “with most getting on board well before the deadline.”
Through an earlier blog post, site officials explained that CarGurus IMV and Deal Ratings will be calculated based all-in price, inclusive of disclosed fees.
This week, CarGurus added that it has also enhanced its consumer site experience. The modifications include:
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—Dealers who don’t disclose fees will lose Deal Ratings on their used-car listings, getting a “no price analysis” label and ranking lower in search results
—Listing badges now show shoppers at a glance whether additional fees apply, including a breakdown of costs
—A new search filter lets buyers exclude listings that haven’t disclosed their fees
CarGurus CEO Jason Trevisan explained why the site made these moves in another blog post deployed this week.
“These updates reinforce the work CarGurus has led for decades to provide the most trustworthy car shopping experience that benefits consumers and dealers,” Trevisan said. “Our enhancements address head-on one of the biggest pain points between the online and in-dealership experience: knowing whether the list price reflects the vehicle’s total cost.
“The result is a better experience for both parties as shoppers can search and compare with a clearer picture of a vehicle’s price, and dealers can earn business from buyers who show up more informed and ready to act,” he went on to say.