TrueCar Inc., in a bid to increase transparency of vehicle transaction costs, said today its 9,000 dealer franchisees have agreed to reveal all vehicle accessory and nongovernmental document fees when guaranteeing prices to TrueCar shoppers.
The so-called “No Surprises” initiative provides an upfront window into such costs as document fees and commonly installed accessories, including window tinting, alarm and security systems and underbody protection, TrueCar said.
TrueCar is a publicly traded third-party shopping site that enables its shoppers to fetch guaranteed vehicle prices from its certified dealer network.
“We here at TrueCar believe that truth and transparency are a more profitable way of doing business and those ideals served as the impetus behind our decision to implement the No Surprises initiative,” CEO Scott Painter said in a statement.
The program does not include information on governmental fees, such as taxes and registration fees.
TrueCar users now represent about 3.5 percent of all new-vehicle sales in the United States, said TrueCar President John Krafcik.
In most states, dealers who sell a vehicle to a TrueCar shopper pay TrueCar $299 for each new vehicle sold and $399 for each used vehicle sold.