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CarGurus Review

Reviews 697
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Reviews 697
Kale Havervold
Apr. 18, 2024
4 min read
Kale Havervold
CarGurus Summary
CarGurus partners with reputable lenders to provide car loans for different types of vehicles. You can get pre-qualified through its Finance in Advance feature, which allows you to shop with real interest rates in hand and get accurate quotes for car payments. The company also allows you to buy and sell your cars and provides helpful resources like a loan calculator and blog to learn about different vehicles, price trends, and more.


  • Lets you shop with personalized rates
  • No minimum credit required to see if you pre-qualify
  • Works with several reputable lenders


  • Can’t see offers or rates without pre-qualifying

CarGurus at a glance

Editorial score

Online experience

Has learning resources, access to rates, mobile app

Customer services and support

Limited ways of reaches lender, hours not provided

Loan Types

Offers most loan types

Repayment Flexibility

Offers multiple repayment plans- but no special repayment programs

Eligibility (credit score)

Accepts all credit types

CarGurus CarGurus Visit CarGurus

Suitable For?

CarGurus is suitable for people who want to get pre-qualified before they shop. This allows you to see your real interest rate and car payments when browsing vehicles so you know which are in your budget. CarGurus can pre-qualify you quickly and without hurting your credit, as only a soft credit inquiry is required initially.

The company is also suitable for those who want to compare loans from different lenders, as it provides offers from Capital One, Westlake Financial, and Global Lending Services.


CarGurus has a handy Finance in Advance feature that allows you to be pre-qualified for a car loan. It means you’ll know exactly what interest rate you’ll pay when receiving offers from loan providers. Pre-qualifying requires a soft credit inquiry, so it won’t hurt your credit to check out your loan options. 

The site features a loan calculator that can help you estimate your payments based on your loan term, down payment, vehicle purchase price, and credit score. They also  include a blog with articles about car shopping, car reviews, maintenance tips, and more.

Other features of CarGurus include:

  • Helpful FAQ section
  • Various loan terms and repayment options
  • No minimum credit score requirement
  • Loan offers from multiple companies
  • The ability to buy, sell, and research vehicles

Application Process

Getting started on CarGurus begins with an online pre-qualification process that only takes a few minutes. You need to fill out a form that asks you for personal information like your name, email address, phone number, social security number, date of birth, address, and income.

Next, a soft credit inquiry will occur, and you will see your options. Once you’re pre-qualified, you’ll be able to shop with your personal rates and see the payments for each vehicle. When you find a vehicle, you can print your pre-qualification certificate and take it to the dealer to finalize terms and complete financing.

It’s important to note that a dealer will require you to fill out an additional credit application that includes a hard credit inquiry before finalizing your financing.

Loan Types and Terms

Because the company works with several partner lenders, it offers a variety of auto loans. You can get loans for new cars, used cars, and certified pre-owned cars. The terms and requirements for a loan depend on the partner lender you end up working with.

For all partners, you need to be at least 18 years old to pre-qualify and have a valid street address within the USA, excluding Alaska and Hawaii.

Capital One requires a minimum monthly income of $1,500. The minimum amount that can be financed is $4,000, and pre-qualification terms last for 30 days. If you have other Capital One accounts, they must be in good standing and not past due or delinquent.

Westlake Financial requires your existing Westlake accounts to be in good standing and that you have no open bankruptcies and a maximum of one derogatory account. The minimum amount that can be financed is $4,000.

Global Lending Services requires a minimum monthly income of $1,800, at least two years of job history, that you have no open bankruptcies, and that your primary source of income be through employment rather than self-employment. The minimum amount that can be financed is $6,500, and pre-qualification is valid for 30 days.

Should the lender have extra requirements, you’ll be notified of these along with your offer. Also, the dealer may ask for documents like proof of income, insurance, and your driver’s license before finalizing the purchase.

Repayment Options

Just like with loan types and terms, the repayment options offered on CarGurus can vary. Each lender will offer its own standard repayment options and loan length.

However, the loan calculator on the website does highlight 36-, 48-, 60-, and 72-month loan terms. In most cases, the repayment terms will be flexible and you’ll be able to choose a length that works for you.

How Safe Is It? 

CarGurus has measures in place at all levels to protect customer data. It encrypts data when it is transmitted, regularly performs security risk assessments, and adheres to all privacy laws and regulations in place.

The company makes security awareness and data privacy a major part of the training and onboarding process for employees, and data can only be viewed by those who need to see or use it for their job.

It provides a transparent privacy policy that goes into detail about the information it collects from customers, what is shared, how information is used, and how it is kept safe.

Help & Support

You can reach out to CarGurus at 877-492-4737, or you can click Ask a Question on its contact page to start a web chat. It has social media profiles that you can use to connect and get support. The FAQ section of the site is easy to navigate and provides helpful information on getting pre-qualified, the lenders the company works with, and more.

How CarGurus Compares

CarGurusAuto Credit ExpressLendingTree
APRVariesVariesFrom 2.49%

Minimum credit score

No minimum credit score requiredNo minimum credit score requiredNo minimum credit score required
Loan amountsVariesVariesUp to $300,000
Loan termVariesVaries12-96 months
Best forThose looking to get pre-qualified before shoppingThose looking to get a car loan with poor creditThose looking to compare offers from several options


CarGurus works with several lenders to provide a variety of auto loans to customers. The Finance in Advance feature lets you pre-qualify in minutes and shop with your own personalized interest rate. This means you’ll know your monthly payments before going to the dealership.

Its site also serves as a marketplace for buying and selling cars, and there are helpful resources like price trends, a loan calculator, and car reviews.

Physical Address

2 Canal Park, 4th Floor, Cambridge, Massachusetts 02141

CarGurus CarGurus Visit CarGurus


This review was created with information from the CarGurus website, including its security and privacy policy, as well as other BestMoney reviews on its competitors.

Kale Havervold
Written by
Kale Havervold
Kale Haverold is a freelance writer with over 5 years of experience crafting articles about credit cards, loans, debt, and a raft of other personal finance topics. His work has been featured on Top10.com, BestMoney, Yahoo, Hardbacon, and Loans Canada. Kale’s easy-to-digest, research-driven articles stem from his passion to share knowledge that helps readers make informed financial decisions.
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