TrueCar. Inc. (NASDAQ: TRUE), the negotiation-free car buying and selling platform, was created to help consumers avoid surprises when buying a new vehicle. Whether for concert tickets, hotel rooms or airfare, consumers don’t like discovering costs added at the end of any purchase process. As part of the “No Surprises” initiative, TrueCar Certified Dealers are required to provide upfront information for all non governmental fees and costs for dealership-added accessories alongside their Guaranteed Savings off MSRP.
“For most people, a new vehicle is the second-largest purchase they’ll ever make,” said John Krafcik, president of TrueCar. “It can be daunting, but TrueCar Certified Dealers have taken steps with the No Surprises initiative to make the process transparent, simple and stress-free.”
TrueCar Certified Dealers’ commitment to provide all pricing information, non-governmental fees and accessory costs upfront is an industry first and reflects the mutual commitment of TrueCar and Certified Dealers to transparency at every stage of the car-buying process. Simply put, giving all information at the start of the process eliminates stress for customers.
“We here at TrueCar believe that truth and transparency are a more profitable way of doing business, and those ideals served as the impetus behind our decision to implement the No Surprises initiative,” said Scott Painter, founder and CEO of TrueCar. “This increased level of transparency is going to have a positive impact for both buyers and sellers and is a giant step toward delivering a truly hassle-free car buying experience.”
With the No Surprises experience, TrueCar Certified Dealers provide information not only on non-governmental fees, such as documentation fees, but also for commonly installed accessories, like window tinting, alarm and security systems, underbody protection, and after market truck bed liners. Dealers disclose fees and charges for these items, which can sometimes fly below the radar until it’s time to sign the final paperwork, early in the shopping process.
“Being transparent and straightforward with regard to dealer fees ultimately helps to provide customers with the best car buying experience,” said Andrew DiFeo, the General Manager of Hyundai of St. Augustine, a TrueCar Certified Dealer located near Jacksonville, Florida. “Disclosing more information throughout the purchase process – and providing our fees earlier on- can foster great customer relationships and build trust.”
The No Surprises initiative also levels the playing field for dealers, bringing fees upfront in the process to ensure consumers have the information they need to make an apples-to-apples comparison.
“We’re narrowing the trust gap between dealers and consumers,” said Krafcik. “As a result, TrueCar users now represent over 3.5 percent of all new vehicle sales in the U.S., and dealers are finding a stronger customer base that’s ready to buy. While the No Surprises initiative has just begun, we are already seeing it as a win-win for dealers and buyers.”
