SANTA MONICA, Calif., Dec. 5, 2011 /PRNewswire/ -- In a move that will radically change how previously owned vehicles are bought and sold, TrueCar, Inc. ("TrueCar"), creator of the intelligent automotive marketplace for new cars, has announced the release of the new ClearBook – the company's most comprehensive and fully-featured used car valuation tool to date.
In the same way TrueCar benefits both new car buyers and sellers through comprehensive, unbiased new car pricing data, ClearBook will help those buying, selling or trading-in their car to know the real value of a used vehicle through unprecedented access to current sales data from around the country.
"ClearBook provides total transparency into the complex world of used car pricing," said TrueCar, Inc. Founder and CEO Scott Painter, "For the first time, everyone who wishes to buy, sell or trade-in their previously-owned vehicle will have the tools they need to pay or receive a fair price. It's an incredible tool that provides consumers with confidence that dealers offer fair and transparent pricing."
ClearBook 2.0 features include:
- A full price report for tens of thousands of different used makes and models
- Detailed vehicle pricing information including: expected sale price, recommended list price and trade-in price
- An easy-to-understand transaction-based market curve that contains the most current car pricing and valuation data
ClearBook users can take advantage of the most highly localized used car values, right down to individual zip codes in the United States with a radius of 100 miles around the user's locations – all available free on the Clearbook.com site.
"This is an exciting new day for anyone who needs to buy or sell a used car," said Katie McCann, Senior Director of Product Management at TrueCar. "Thanks to ClearBook, private buyers and sellers will now be on a level playing field - and those seeking a trade-in at the dealership can get a truly accurate picture of what their current car is worth– something most Americans had given up on long ago."
The launch of ClearBook comes on the heels of two major recent announcements from TrueCar: first, the acquisition of ALG, the industry leading source for automotive residual values, from DealerTrack, and the acquisition of CarPerks, a leading provider of automotive purchasing and leasing programs for over 1,000 U.S. businesses and their more than 25 million employees.
TrueCar, Inc. is an automotive solutions provider focused on changing how cars are sold by providing a significantly better customer experience while helping qualified dealer partners to gain incremental market share and reduce costs. TrueCar.com is a transparent, visual publisher of new car transaction data. TrueCar price reports help both dealers and consumers to agree on the parameters of a fair deal by providing an accurate, comprehensive and simple understanding of what others actually paid for the identically equipped new car over the last 30 days both locally and nationally. TrueCar, Inc. works with a national network of over 5,400 Certified Dealers that provide up-front, no-haggle, competitive pricing to assist some of the nation's largest and most well respected membership and service organizations to meet the auto buying needs of their members and customers. These partnerships include American Express, AAA, USAA and more than 60 others. Collectively these audiences represent over 1M in-market customers each month. TrueCar, Inc. is headquartered in Santa Monica, CA and has offices in San Francisco. The company was founded in 2005 and has been profitable since 2009. With 131 percent annual growth since 2006, TrueCar has helped dealers sell over 400, 000 vehicles and is developing a suite of transaction oriented products and services centered on transparency and radical clarity as a result of comprehensively analyzing market data and information.
About TrueCar Data
TrueCar obtains data directly from numerous sources including automotive dealers, technology companies, data aggregators, and analytics companies within the automotive space. We also acquire vehicle configuration data, customer and dealer incentives data, financing and loan data, vehicle registration and insurance data, and much, much more. TrueCar is insatiable about data with our goal to find 100% of all purchase transactions, even if that means finding the same transaction multiple times from multiple sources within the car-buying ecosystem. Our data is among the most timely and comprehensive in the industry, as we are able to process most car sales within a week of the actual sales date, and have a substantial fraction on the site within 48 hours of the actual sale. TrueCar believes the greater our informational accuracy, the greater benefit we provide to both dealers and consumers.
This press release and the information contained herein is for noncommercial use on "as-is, as available" basis and may be used for informational purposes only. TrueCar makes no representations or warranties, express or implied, with respect to the information contained in this press release and the results of the use of such information, including but not limited to implied warranty of merchantability, fitness for a particular purpose and non-infringement. The information contained in this press release may include technical inaccuracies or typographical errors. Neither TrueCar nor any of its parents, subsidiaries, affiliates or respective partners, officers, or directors, employees or agents shall be held liable for any damages, whether direct, incidental, indirect, special or consequential, including without limitation lost revenues or lost profits, arising from or in connection with your use or reliance on the information presented in this press release.
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SOURCE TrueCar, Inc.