Cars.com is launching an “Instant Deal” nationwide, allowing consumers to claim the highest offer from a local dealership and sell their car instantly

Cars.com generated over 5,000 qualified cash offers for consumers Since launching in select markets in May

50% of consumers considering selling a car prefer to trade in their used vehicle at a dealership

CHICAGO, August 1, 2022 /PRNewswire/ — Americans have many 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 the car-shopping marketplace Cars.com (NYSE: CARS). While consumers have long been able to sell their cars to other consumers on Cars.com, now they can do more.1 Instant offer, powered by Accu-Trade, is a new feature on Cars.com that allows consumers to tap into the company’s extensive network of nearly 20,000 dealerships across the country to sell their used car instantly. Consumers can get a competitive cash offer from a local dealership in their area and withdraw a check the same day.

“About 40% of the 27 million monthly buyers on Cars.com have a car to trade in before buying a new one, and we wanted to provide a seamless experience for these consumers to connect with local dealerships and have a convenient way , safe and fast place to sell their car, said Doug MillerPresident and Chief Commercial Officer of Cars.com.2 “Our new instant offer capability selects the best deal for a consumer and allows them to sell their used car to a qualified local retailer, cash a check and purchase a new vehicle the same day.”

As vehicle inventory levels continue to be a concern, Cars.com’s new instant deal allows consumers to get a competitive cash offer for their used car while supporting local dealerships with inventory essential. Consumers are already reaping the benefits: Since its launch in May in select markets, Cars.com’s new solution has generated more than 5,000 instant deals and is expected to scale rapidly as the product rolls out nationwide.2

Cars.com also published new digital advertising as part of their “It’s Matchical” brand campaign to advertise the new instant offer solution and increase awareness. Consumers interested in getting in touch with a dealer through the 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

ON CARS.COM

CARS is the leading automotive marketplace platform that provides a robust set of digital solutions that connect car buyers with sellers. Launched in 1998 with the flagship marketplace Cars.com and whose head office is at Chicago, the company provides buyers with the data, resources and digital tools needed to make informed purchasing decisions and connect seamlessly with automotive retailers. In a rapidly changing market, CARS empowers dealers and OEMs with innovative technical solutions and data-driven intelligence to better reach and influence ready-to-buy buyers, increase inventory turns and gain market share. market.

In addition to Cars.com™, the Company’s brands include Dealer Inspire®, a technology provider that creates future-proof dealership solutions with more efficient operations and connected digital experiences; FUEL™, an advertising solution offering dealers and OEMs the benefit of leveraging targeted digital video marketing to the car-buying audience on Cars.com’s marketplace; DealerRater®, a leading automotive dealership reputation management and rating technology solution; CreditIQ™, digital finance technology and Accu-Trade™, vehicle appraisal and appraisal technology. The company’s brand portfolio also includes Auto.com™, PickupTrucks.com™ and NewCars.com®.

The full range of CARS properties includes Cars.com™, Dealer Inspire®, FUEL™, DealerRater®, CreditIQ™, Accu-Trade.com™, Auto.com™, PickupTrucks.com™ and NewCars.com®. For more information, visit www.Cars.com.

SOURCE Cars.com Inc.

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