By Joe Overby – Senior Editor, AutoRemarketing
When CarGurus purchased a majority stake in CarOffer this winter, one of the benefits to the deal was that it could give CarGurus dealer partners another digital avenue to source used inventory.
That capability came to fruition Friday with the launch of CarGurus Instant Max Cash Offer, a CarOffer-powered platform that allows dealers to acquire used cars online from consumers.
And for many, the timing perhaps couldn’t be better, with an auto industry grasping for used-car supply that has run dry amid the fallout from a chip shortage, new-car production delays and high demand.
CarGurus Instant Max Cash Offer, which utilizes the CarOffer Buying Matrix platform to facilitate consumer car sales to dealers, will launch first in Florida, Massachusetts and Texas. Consumers there can go to the “Sell My Car” page on the CarGurus website and type in the vehicle information to receive offers from the dealer network.
If the consumer chooses to move forward with the offer, CarGurus picks up the vehicle (at the location designated by the consumer) through a “white glove” concierge service, inspects the vehicle at that location and delivers it to the dealer’s lot. The consumer is paid once the car passes the inspection.
Dealers who are in the CarGurus/CarOffer network can utilize this tool by filling out CarOffer’s Buying Matrix.
“We are headed towards a digital world where shoppers and dealers are both buying and selling vehicles online, and CarGurus is in a prime position to help both do so with the technology-first approach that we are known for in the industry,” CarGurus president and chief operating officer Sam Zales said in a news release.
“CarGurus Instant Max Cash Offer will not only let consumers sell their car online from the comfort of their home while securing the top offer from thousands of dealerships, but will also help those dealerships gain a competitive position amid this new digital retail environment and level the playing field with the industry’s largest consumer vehicle retail buyers,” Zales said.
Alternative ways to source used vehicles continue to rise, especially as some retail and wholesale lines blur and as digital transacting becomes more common.
Just last week, Drivably announced a new online community that allows consumers to instantly sell their cars to dealers, who bid on the vehicles through an online auction.
And in June, ACV debuted a platform that gives dealer groups and commercial partners a way to host closed sales for select audiences. ACV PRIVATE MARKETPLACES will first be available for large dealership groups with multiple locations, and then for commercial consignors looking for a way to host closed auction sales.
