Leading US automotive portal Cars.com has revealed their latest site and mobile feature, the Price Comparison Graph. This new tool helps car buyers get more bang for their buck by providing more context around the price of a used or new vehicle. It also helps educate shoppers on how factors such as trim, mileage and certification impact the price of a vehicle in their market.
"One of the top concerns for any vehicle owner or shopper is price: 'How much will this repair cost? What is a fair price for this car?',” said Joe Keehnast, principal product manager at Cars.com in a press release.
“We have always been committed to bringing more transparency to automotive, and our next bet is on improving the industry's pricing decision tools so consumers can better understand why a car is priced a certain way," he said.
The new Price Comparison Graphs are just the beginning of a long list of pricing features anticipated to hit the site this year.
The company expects to roll out Deeper Feature Comparison by the end of the first quarter, which will incorporate additional qualifiers such as drivetrain, engine cylinders and transmission into the Price Comparison Graphs. Local vehicle price comparisons are determined through a random sampling of all cars within 100 miles of the location of the vehicle. For used vehicles, comparison mileage and CPO status are also factored into the price.