Tuesday, April 28, 2009

TrueCar: a neat little research weapon for new car shopping

TrueCar, is an information service that aims to give potential new car buyers an idea of what the price tag of the vehicle they’re considering purchasing should really be reading, is officially launching its free consumer-focused website today by taking the beta label off.

In essence, the service allows car buyers to check if the price for their next car is on par with the price others have paid for the same vehicle in the past, hopefully bringing some transparency to the automotive retail industry.

So how does it work? When a new car buyer visits the TrueCar website, they are asked to enter their zip code and all vehicle details down to the specific options. TrueCar then generates a complete Price Report with nifty graphs, displaying the full distribution of prices paid by other people for the exact same vehicle in a given market area. In addition, the web service calculates the actual dealer cost structure of a particular vehicle.

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