OpenRoad Lending Launches Hassle-Free Online Car Buying Program Powered by TrueCar

SANTA MONICA, Calif., Oct. 17, 2012 /PRNewswire/ -- OpenRoad Lending, an online Direct-to-Consumer auto finance company today, announced that it has partnered with TrueCar, an automotive pricing and analysis company that creates a better buying experience for consumers and dealers, to help its consumers save time and money with hassle free car shopping.

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"With the TrueCar platform our customers, in addition to applying online for financing, will be able to search for new and pre-owned vehicles and secure pricing all before going to the dealership" said Chris Goodman, President and CEO of OpenRoad Lending.  "This addition enables OpenRoad Lending to offer our customers a more comprehensive car buying solution and ensure a great experience at the dealership."

With the new program on OpenRoad Lending, customers can receive guaranteed savings^* on a new vehicle, in addition to financing a new and used vehicle through OpenRoad.  The OpenRoad Auto Buying Service is available by visiting https://openroadlending.truecar.com/main.html. When on OpenRoad's Auto Buying Program, consumers can compare pricing information on thousands of new and used vehicles, view prices other buyers paid for the same vehicle, and lock in savings with a trusted Program Certified Dealer^*.  Users have seen an average savings of $2,572 off of MSRP^**.

"The OpenRoad Lending Car Buying Service provides customers already looking to finance a vehicle a hassle-free option when buying a new car," said Bernie Brenner, Executive Vice President, Business Development at TrueCar, Inc.   "This new product will offer a guaranteed savings on their next new vehicle, in addition to OpenRoad's competitive auto financing rates."

For more information on the OpenRoad Auto Buying Program, please visit:  https://openroadlending.truecar.com/main.html

About TrueCar, Inc.

TrueCar, Inc., headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas, is an automotive pricing information and analysis company that creates a better buying experience for dealers and consumers.  As an online publisher of unbiased new and used car transaction data, TrueCar.com provides price reports that empower dealers and consumers to agree on the parameters of a fair deal by supplying a transparent, simple understanding of what others recently paid for identically-equipped new cars in their geographic area.  TrueCar also owns ALG, the benchmark for vehicle value information to the automotive industry and has been forecasting residual values for nearly 50 years in both the U.S. and Canadian markets.

TrueCar is a data-driven company that sources and compiles car-buying information unlike anybody in the industry.  This is why, since its founding in 2005, TrueCar dealer partners have sold over 600,000 vehicles across the country.  Its national network of more than 4,700 Certified Dealers is committed to provide no-hassle pricing for some of the country's largest membership and service organizations, including American Express, AAA, USAA and Consumer Reports that collectively represent more than one million monthly in-market customers.

About OpenRoad Lending

OpenRoad Lending, headquartered in North Richland Hills, Texas is an online Direct-to-Consumer auto finance company.  OpenRoad Lending offers auto finance solutions to consumers within multiple credit spectrums in 35 states across the USA. OpenRoad's online application and approval process enables consumers to apply for financing in the comfort and privacy of their own home at OpenRoad's website www.OpenRoadLending.com. Once approved the customer downloads and prints their OpenRoad eCheck that they take to the dealership and use like cash. OpenRoad's auto finance products include new and pre-owned vehicle purchase, auto refinance and cash-out auto refinance loans. 

*Guaranteed Savings, and Estimated Price and Savings currently not available in AR, CO, KS, LA, MD, NE, OK, OR, TX, VA, and WA. In these states, a "Target Price" is presented, which reflects a market-based example of what you can reasonably expect to pay for a vehicle configured with your desired options.

**$2,572 Average Savings represents the average amount of savings off of MSRP presented to users by Certified Dealers based on user-configured new vehicles between 10/31/11 and 12/31/11. Your actual savings may vary based on multiple factors including the vehicle you select, region, dealer, and applicable manufacturer incentives. The Manufacturer's Suggested Retail Price ("MSRP") is determined by the manufacturer, and may not reflect the price at which vehicles are generally sold in the dealer's trade area as not all vehicles are sold at MSRP. Each dealer sets its own pricing. Your actual purchase price is negotiated between you and the dealer.

SOURCE TrueCar