Tuesday, October 9, 2012

TrueCar Wins Regions Bank

TrueCar, the Santa Monica-based provider of auto buying and pricing software, is powering another online vehicle purchase service with a deal with Regions Bank, the company said today. TrueCar said it is providing the online vehicle information service for Regions Bank, which allows customers of that bank to research, shop for, finance, and insure a new or used vehicle. Financial impact of the deal was not disclosed. TrueCar's software and services allow users to shop and specify cars for purchase, down to the accessory level, and gain upfront pricing from local dealers for those automobiles; the firm provides its services to a number of membership groups, including USAA, the AAA, and Consumer Reports. The firm has been causing some serious ripples (and widespread worries) for auto dealers, due to its very open publishing of actual auto purchase transaction data.