April 30, 2019
CarGurus, a mobile buying platform for new and used vehicles, has announced a partnership with Capital One Auto Finance to allow buyers to prequalify for financing before entering a dealership.
The program will roll out in the coming weeks to about 10,000 dealerships that work with CarGurus and Capital One.
Eligible shoppers can use the "view financing options" through the app without affecting their credit scores. Additionally, they can see rates and monthly payments and then go to a dealership to complete their financing application.
"CarGurus' partnership with Capital One Auto Finance allows car shoppers to expedite their purchase from their mobile device or computer, before they walk into the dealership," Tom Caputo, chief product officer at CarGurus, said in the announcement. "As a trusted automotive shopping leader to both shoppers and dealers, CarGurus believes that providing visibility into financing not only gives consumers the information they need to make a purchase decision, but also creates a more seamless, efficient experience at the dealership."
CarGurus said it is the largest automotive marketplace in the U.S. based on unique monthly visitors measured by Comscore.
Topics: Mobile Apps, Technology Providers
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