September 21st, 2009
TrueCar Review: The New Car Shopper’s Tool
If you’re in the market for a new car, TrueCar will help you drive off the lot knowing just what kind of deal you got. TrueCar aims to make the car purchasing process honest, transparent, and fair by providing consumers recent, local data of new car sales specific to the make, model, trim, and option of any vehicle. Before, haggling for hours over the price of a new car was a rite of passage every consumer had to go through. Now, by knowing the average price other consumers paid for a specific car, you can arm yourself with the tools you need to get a better deal on any new car purchase simply by being an informed, empowered consumer.
TrueCar makes understanding the negotiation process between car dealer and customer super simple. They develop a Price Report for the particular vehicle you want by aggregating data from many different sources of how much car buyers in your particular geographic area actually paid for the exact car with the same options you are looking for at the dealerships. The Price Report is a simple straight-forward graphic with data that helps new car shoppers quickly ballpark a good price, a great price, and the average price paid for a specific car. It also details the mark-up on all option packages as well as the actual dealer cost, factory invoice, and the sticker price many car salesmen try to hold buyers too. TrueCar also shows you the average price paid over the last six months for the vehicle. This is especially nice, since incentives and government programs like Cash for Clunkers can shift negotiation power quickly.
How do you use this data to negotiate a better price? Print out the Price Report and take it with you when you go shopping for that perfect car. While the car salesperson may pace back and forth to their manager to settle the price, you can remain steady in your offer price as you have a TrueCar Price Report in hand. Now, if you find yourself at the dealer wanting a different color, or a couple more add-ons, don’t worry; you can call TrueCar and they will email you an updated Price Report to your iPhone or Blackberry.
One thing TrueCar can’t help you with though—new car financing. Make sure you have a strong credit score in hand when you head to the dealership. Also, do your research and know what financing offers are available to you from the dealers as well as APRs you can get from going direct to Capital One Auto Finance or Up2Drive. In addition to financing, check with your auto insurance company regarding insurance coverage costs for that car you’ve been eyeing. You need to be able to afford much more than just the new car.
New car shopping has always been one of those events you never walk away feeling good about: you are suddenly worried you gave in too much or left wondering if you really did get a good deal like the salesperson kept telling you. TrueCar helps set a fair and transparent price for new cars in the market everyday so you can get your new set of keys worry-free.
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