TrueCar Boosts Retailer Offering with Complimentary VIN-Specific Digital Payments and Trade Tools for Network Dealers

• New “TrueCar Access” Payments and Trade tools enable dealers to provide in-demand digital retailing features to car buyers at no cost
  
• Participating TrueCar Access Dealers to receive Payments and Trade feature badging on the TrueCar marketplace
• AutoNation to onboard all 300 franchises with TrueCar Access Payments and Trade tools after successful pilot
  

SANTA MONICA, Calif., Sept. 24, 2020 (GLOBE NEWSWIRE) --  TrueCar, Inc. (NASDAQ: TRUE), the most efficient and transparent online destination to find a car, announced today that it is offering complimentary access to its leading-edge Payments and Trade Retail Solutions tools for network dealers. The tools are available for onboarding starting now to franchise dealers and are planned to roll out to independent dealers by the end of the year. Participating retailers will be part of TrueCar’s Access Network, and will receive badging on the TrueCar marketplace highlighting to consumers that these features are offered by the dealership. Retailers must opt in to the Payments tool to also be eligible for complimentary access to the TrueCar Trade tool.

This new offering was prompted by the recent acceleration in demand for digital car buying solutions and aligns with TrueCar’s strategic vision of creating a flexible end-to-end car buying experience. Recent TrueCar research of consumer car buying preferences showed that 76% of shoppers would like to calculate and compare monthly payments online, 65% would like to receive an offer for a trade-in online and 61% would like to set up the entire deal online, including monthly payment, trade-in and financing. 

“Consumer demand for digital retailing is no longer debatable. While we recognize that not all consumers want to shop 100% digitally or 100% offline, most consumers today fall somewhere along that spectrum and would like to complete more and more of the deal online,” said Mike Darrow, President & CEO of TrueCar. “The key is providing options. Offering our Payments and Trade tools complimentary to our retailer network ensures that they have access to the very best technology to help them stay relevant and competitive to sell cars in today’s market.”