New Online Tool Shows Consumers Exactly What Others Paid for Their Cars

TrueCar, a free online interactive tool, allows consumers to find out exactly what others actually paid for their cars, in every region across the country.

TrueCar, which will be widely available in early 2009, not only shows buyers four specific pricing benchmarks – actual dealer cost, factory invoice, average price paid and MSRP or sticker price – but also displays the full range of prices people have actually paid.
TrueCar clearly shows the buyer what should be considered a good price, a great price and over-priced for the specific car he or she is researching.
TrueCar will offer its pricing tool free to anyone who wants it – large online portals, smaller niche communities and individual websites.  Its primary goal is to distribute the data free to all consumers and dealers in as many places as possible.
For consumers, the benefits are obvious.  They’ll never overpay again and enjoy a better overall buying experience.  They’ll be able to walk into the dealership fully informed.
“TrueCar is great for dealers,” said Scott Painter, TrueCar founder.  “In fact, we created TrueCar in direct response to the dealer’s need for accurate information on market demand.  How to price a new car typically has been a subjective exercise for dealers.  But now we’re showing them exactly how the market is moving, and they’ll be able to identify the place on the pricing curve that will help them increase volume while maintaining their margins.  It’s a rich source of market intelligence.”
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Release via Business Wire.