Can technology make car buying more transparent?
The car business has gone through many shifts since the dawn of the internet. The old notions that car dealers are trying to “rip people off” have pretty much been completely removed from discussion. Today consumers have access to more information about cars and their pricing than any other industry.
With that said, can it get even better? Can technology help to make pricing more transparent and better aligned with what consumers should be paying for their vehicles?
One company that is doing this is TrueCar. The company is well-funded and has been working to make pricing issues more easily understood by consumers. They can look on TrueCar to determine where a particular vehicle’s price fits in the mix, whether too high, too low, or just right.
Another company making strides for both dealers and consumers is Automark Solutions. Their pricing tools allow dealers to control the way that their vehicles are positioned online to stay compliant with pricing regulations set forth by the federal and state governments. It also allows them to properly price their vehicles without forcing dealers to spend too much time doing so, allowing fairness to flow to car shoppers without having the prices influenced by artificial market conditions.
The free flow of data is beneficial to both consumers and dealers. Using the right technologies allows both parties to come together more easily and make the buying and selling experience streamlined.