TrueCar and Roadster Partner to Provide TrueCar Users Option to Finalize their Car Deal Online

Rhea-AI Summary

TrueCar, Inc. (NASDAQ: TRUE) has launched a pilot program with Roadster, allowing car buyers to finalize their deals digitally. Available at over 650 dealerships, this integration provides a seamless experience, enabling users to transfer their deal details directly from TrueCar to Roadster's Express Storefront. TrueCar CEO Mike Darrow emphasized the importance of a digital retail experience, while Roadster CEO Andy Moss highlighted the benefits of modern APIs for consumers. The initiative aims to improve the car buying process by eliminating friction between buyers and sellers.

Positive

• Launch of pilot program with Roadster enhances digital car buying experience.
• Integration allows over 650 dealers to streamline deal finalization.
• Improves consumer experience by reducing friction in the car buying process.

Negative

• None.

SANTA MONICA, Calif., May 4, 2021 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), the most efficient and transparent online destination to buy a car, today announced the launch of  a pilot program with digital sales platform, Roadster. For the first time, consumers using TrueCar will now be able to finalize their car buying deals digitally through an API that integrates directly into Roadster's back-end software. This capability is currently available at over 650 dealers that work with both TrueCar and Roadster. 

TrueCar's experience is flexible and aims to enable consumers to have as much or as little of their car buying experience online as they prefer. Consumers can research and find the right car online, and get real pricing on an actual vehicle. They can also get a cash offer on their trade-in to put toward their new vehicle. With this program, consumers can now extend the car buying experience even further online by completing their deal terms digitally through the integration with Roadster.

"The ability to finalize the terms of a car deal online is critical to creating a great retail experience," said Mike Darrow, President & CEO of TrueCar. "Through our pilot program with Roadster, TrueCar consumers at select dealerships now have the ability to build real car deals digitally, including finance terms."

The TrueCar and Roadster program marks the first step in TrueCar's journey to leverage data exchanges and technology integrations with digital retailing providers such as Roadster to improve the car buying experience. This approach modernizes data exchanges via API integrations built by partners like Roadster as opposed to limited legacy email methods currently being utilized. This enhancement addresses pain points for both consumers and dealers that make car buying easier, removing unnecessary friction between buyers and sellers.

Consumers who use the TrueCar and Roadster integration can now pick up on the dealer's Express Storefront right where they left off on TrueCar, without having to repeat any steps. The consumer will see the same vehicle price, qualifying incentives, and lease / finance deal terms that they configured and were presented on TrueCar (subject to validation of the information provided by the consumer). For dealers, this ensures they not only have all the pertinent deal structure inputs from the consumer, but also makes the process even more efficient by passing the information directly into the dealer's Roadster Admin sales tool for easy follow up.

"Consumers want their car buying experience to be as easy as anything else," said Andy Moss, CEO of Roadster. "Through the development and use of robust retail APIs, like the one we are implementing here, we will now be able to create a seamless car buying experience for marketplaces like TrueCar. We are proud to work alongside such great partners like TrueCar to offer a modern end-to-end car buying solution that consumers have been waiting for."

How it works:

• Once a car buyer has built and personalized their deal on a vehicle on TrueCar, they have the option to enter into participating dealers' "Express Store" powered by Roadster, to finalize the terms of their deal.
• All the vehicle deal-building work configured by the TrueCar shopper is carried over from TrueCar into the "Roadster Admin" for easy follow-up. The dealer no longer has to cross-reference or ask customers questions they've already answered on TrueCar. This puts customers and dealers on the same page, reducing friction.
• The consumer can finalize their deal terms with the dealer either online or offline.

About TrueCar
TrueCar is a leading automotive digital marketplace that enables car buyers to connect to our nationwide network of Certified Dealers. We are building the industry's most personalized and efficient car buying experience as we seek to bring more of the purchasing process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings, and market context on new and used cars -- all with a clear view of what's a great deal. When they are ready, TrueCar will enable them to connect with a local Certified Dealer who shares in our belief that truth, transparency, and fairness are the foundation of a great car buying experience. As part of our marketplace, TrueCar powers car-buying programs for over 250 leading brands, including AARP, Sam's Club, and American Express. Nearly half of all new-car buyers engage with TrueCar powered sites, where they buy smarter and drive happier. TrueCar is headquartered in Santa Monica, California, with an office in Austin, Texas.

For more information, please visit www.truecar.com, and follow us on Facebook or Twitter. TrueCar media line: +1-844-469-8442 (US toll-free) | Email: pr@truecar.com

About Roadster
Roadster is the auto industry's leading digital sales platform, modernizing the way customers buy cars and the way dealers sell them. Its flagship Express Storefront product comes with everything that's needed to transact both online and in the showroom, creating one seamless Omnichannel experience for all. Express Storefront is powered by hundreds of data sources to enable customers to configure near penny-perfect deals that factor in incentives, trade-ins, service plans and accessories. It also features the tools and insights dealers need to engage customers and guide them to complete their purchase online, or seamlessly continue it in store. As a result, dealers who use Express Storefront report 2x more engagement, 70% more sales efficiency and 2x higher customer satisfaction than the industry average. Roadster was founded in 2014 and is headquartered in San Francisco. For more information, please visit www.Roadster.com

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SOURCE TrueCar, Inc.

FAQ

What is TrueCar's new partnership with Roadster about?

TrueCar has launched a pilot program with Roadster to enable consumers to finalize their car buying deals digitally.

How many dealerships are involved in the TrueCar and Roadster integration?

The integration is currently available at over 650 dealerships.

What benefits does the TrueCar and Roadster program offer consumers?

It allows users to transfer their deal details seamlessly and finalize terms either online or offline.

When was the TrueCar and Roadster partnership announced?

The partnership was announced on May 4, 2021.

What is the stock symbol for TrueCar?

TrueCar is traded under the stock symbol TRUE.