One of car buyers’ biggest historical complaints, after the fact, is the lack of transparency in the process. Fees seem to come from nowhere, insurance and financing are pushed on them without an education process first, and car payments wind up being higher than expected. Today, software and apps have given some of the power back to car buyers, allowing them to map the process out visually on their phones or laptops, and explaining all the variables, helping consumers make more educated choices. Companies like TrueCar, Inc. act as a digital automotive marketplace that helps consumers with pricing transparency.
Fortunately, some of these same technologies are helping car dealerships eliminate some of the biggest headaches in their business processes, also by fostering more transparency. DealerScience is one of those companies that aims to make car sellers lives’ easier, most recently thanks to its “Penny-Perfect Payments” tool. Now, dealer software provider TrueCar has announced the acquisition of Boston-based DealerScience.
TrueCar, based in Santa Monica, California, operates its own branded site and a nationwide network of more than 16,000 certified dealers. It powers car-buying programs for some of the largest U.S. membership and service organizations, including USAA, AARP, American Express, AAA and Sam’s Club. With the acquisition of DealerScience, a provider of digital retailing software tools to the automotive industry, TrueCar says it can improve the experience of dealer-customers by providing improved data products and services enabled by the combination of the two organizations’ technologies.
“Consumers expect to be able to configure more elements of their car deal online and they want greater transparency and validation of the elements of their car deal,” said Chip Perry, TrueCar’s president and chief executive officer, in a statement. “We believe that dealers that place DealerScience’s state-of-the-art digital retailing tools on their own websites, in their showroom and within TrueCar’s marketplace will be well positioned to generate strong growth and profitability.”
DealerScience will operate as a Boston-based subsidiary of TrueCar, focused on product development, sales and customer training. Andrew Gordon, DealerScience’s founder, will assume a new role as VP of Digital Retailing at TrueCar.