NADAguides vs CarGurus
CarGurus strictly renders its services around Cars, boasting over 5 million listings where users can buy or sell their vehicles. NADAGuides leverages data points to provide one of the most accurate vehicles and pricing information around Cars, Motorcycles, Powersports, RVs, and Boats. Learn more below.
National Appraisal Guides (NADAguides)
When we attempt to value a used vehicle we use a number of data points. These data points include, but are not limited to, actual wholesale transactions (around 80% of the market with our relationship with NAAA) and retail transactions (through our relationship with J.D. Power and its PIN data), as well as asking price information from www.autotrader.com. In addition, we have data from various OEMs and wholesalers and retailers of used vehicles that provide us the amounts for which they paid and sold their vehicles. We also take into consideration MSRP, invoice, equipment assumptions, as well as supply and demand and other macro- and micro-economic factors and the competitive landscape of vehicles. Our retail value is what a person could reasonably pay for a vehicle at a dealer’s lot. Our values are designed and intended to assist users in performing their own valuation of a particular used vehicle. The process by which users of NADAguides determine valuation is inherently subjective. Individual vehicles may have an actual value that is higher or lower than the estimated values created by us.
NADA has been around for over 80 years and is the premier valuation guide in the used vehicle industry. Customers include, but are not limited to: dealers, wholesalers, rental car companies, insurance companies, lending institutions, OEMs, government agencies, as well as individual consumers. We attempt to create the most accurate, market-reflective, unbiased vehicle values and we believe we do so each and every time one of our products is presented to the outside world.
NADAguides is additionally known as a credible source for pricing outside of the automobile industry. Comprehensive pricing data is also published for powersports, recreational vehicles, boats and manufactured housing.
Unlike NADAguides, CarGurus deals strictly with car listings. Founded in 2006, CarGurus has catapulted from a simple online forum to one of the most definitive automotive research and sales sites with over 5 million listings of used, certified pre-owned, and new cars. It has similar tools for browsing based on make, body style, price, and type of listing within a zip code range.
Langley Steinert, the co-founder of TripAdvisor, harnesses the value of customer reviews to rate dealerships as part of the algorithms to determine the value of a deal. Like other user-review sites, the rankings are unbiased and not determined by advertising. The best ones come up first in personalized searches based on the user’s preferences.
CarGurus also uses specs such as options, trim, price, and mileage in its assessments. It provides information about a vehicle’s accident, title, and ownership history for a better evaluation with data analytics. It has an extensive list of price analyses with comprehensive details of the amenities, negotiation talking points, and an estimated payment.
CarGurus is consumer-minded with a focus on making it as easy as possible to list or buy a vehicle. Both dealers and consumers can post free on the site with subscription services available for the dealerships to market their offerings. Sellers pay a fee if someone buys it. CarGurus boosts partnerships with over 40,000 businesses from across the country.
Consumers can also get pre-qualified for financing through CarGurus before going to the dealership. There is also a trade-in calculator to get the instant market value of a used car. Further, the website also has comprehensive automotive reviews by experts in the industry. Consumers can research the tech, performance, and cost-effectiveness of new vehicles. There are previews of up and coming cars too.
Additionally, CarGurus has a question platform for users to get answers by experts in the field from anything to maintenance issues to finding parts. The company has ventured into the international market with listings available in Canada, Italy, Spain, Germany, and the United Kingdom. It filed for IPO status in October 2017 and continues to expand its brand worldwide.