TrueCar Gets Ahead of FTC Compliance with Rapid Adoption of New Pricing Disclosures
"TrueCar has always been built on price transparency; it is our founding principle," said
Moving early on all-in pricing
TrueCar will implement platformwide changes to ensure that advertised vehicle prices shown to consumers are clear, consistent and compliant. Central to these updates will be a new standard for vehicle pricing, where mandatory dealer fees and add-ons such as documentation and dealer prep fees are included directly in the advertised price.
While current regulations require disclosure of such fees, TrueCar will be going further by explicitly identifying those fees within the total price shown to consumers.
"Regulators are making it clear that ambiguous pricing is no longer acceptable," said Painter. "We are moving early to establish a standard that is not only compliant but clear and consistent for consumers and dealers alike."
The updates respond to enforcement priorities outlined by the FTC, including prohibitions on incomplete pricing, misleading discounts and unavailable inventory.
Rising regulatory pressure across the industry
The move follows
Federal enforcement is being reinforced at the state level, where lawmakers are moving to codify similar standards around transparent, all-in pricing.
About TrueCar
TrueCar is a leading digital automotive platform that uses technology to help car buyers save time and money through a nationwide network of Certified Dealers. Founded in 2005 by
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SOURCE TrueCar, Inc.
