Cars.com Has Generated More Than 5,000 Qualified Cash Offers for Consumers
Since Launch to Select Markets in May
50% of Consumers Planning to Sell a Car Prefer to Trade In Their Used Vehicle at Dealership
CHICAGO (Aug. 1, 2022) — Americans have several options when it comes to selling their car, but half (50%) prefer to work directly with a local dealership, according to a recent survey by car-shopping marketplace Cars.com (NYSE:CARS). While consumers have long been able to sell their cars to other consumers on Cars.com, they can now take things a step further.1 Instant Offer, powered by Accu-Trade, is a new capability on Cars.com that lets consumers tap the company’s large network of nearly 20,000 dealers across the country to sell their used car instantly. Consumers are able to get a competitive cash offer from a local dealership in their area and pick up a check the same day.
“About 40% of the 27 million monthly shoppers on Cars.com have a car to trade in before purchasing a new one, and we wanted to offer a seamless experience for those consumers to connect with local dealers and have a convenient, safe and fast place to sell their car,” said Doug Miller, president and chief commercial officer at Cars.com.2 “Our new Instant Offer capability curates the best offer for a consumer and enables them to sell their used car to a qualified local retailer, collect a check and purchase a new vehicle all in the same day.”
As vehicle inventory levels continue to be a concern, Cars.com’s new Instant Offer allows consumers to get a competitive cash offer for their used car while also supporting local dealerships with much-needed inventory. Consumers are already taking advantage: Since its roll out in May to select markets, Cars.com’s new solution has generated more than 5,000 Instant Offers and is expected to scale rapidly as the product goes nationwide.2
Cars.com also released new digital advertising as part of their “It’s Matchical” brand campaign to announce the new Instant Offer solution and drive awareness. Consumers interested in connecting with a dealership through Instant Offer or selling their car to another consumer can visit Cars.com/Sell.
1Cars.com Consumer Metrics, March 1, 2022
2 Cars.com internal data