Navy Federal and TrueCar Partner to Launch Car Buying Service
VIENNA, Va. (March 16, 2021) – Navy Federal Credit Union and TrueCar (NASDAQ: TRUE), a leading online marketplace for new and used car shoppers, announced today a partnership to bring exclusive value to the military community and their families for all their car buying needs.
Navy Federal’s Car Buying Service provides members, at no cost, with an online platform to research and compare vehicles that match their preferences, get upfront transactable pricing on local inventory, and the option to minimize personal contact at the dealer through TrueCar’s Buy from Home program.
“From personalized pricing and price comparisons in your local area to transparent online car valuation, this partnership is another great way we can help our members find the best vehicle that fits their financial lifestyle,” said Joe Pendergast, Vice President of Consumer Lending at Navy Federal Credit Union. “TrueCar allows us to further arm our members with the guidance and negotiating power they need to be successful in today’s contactless car buying experience.”
Members can take advantage of TrueCar’s benefits such as:
- Savings: Over $3,500 average savings off MSRP1
- Price Context: See what others paid for a similar vehicle in your local area
- Real Pricing: Personalized price on a specific vehicle from a TrueCar network dealer
- Trade or Sell: Transparent online valuation with context around factors that affect your vehicle’s value, and receive a cash offer in minutes
- Buy from Home: Identify TrueCar Certified Dealers that offer remote paperwork, vehicle delivery and vehicle sanitization
- Extensive Dealer Network: Access TrueCar’s Certified Dealer Network, which includes thousands of dealers nationwide
“Navy Federal Credit Union is a leader when it comes to member service and support, and membership affinity. We’re delighted to partner with them to provide their members access to military exclusive benefits and a modern digital car buying experience built on a commitment to price transparency, efficiency and value,” said Mike Darrow, President & CEO of TrueCar.
Additionally, all members can access a variety of exclusive offerings through TrueCar’s military appreciation benefits, including:
- Up to $4,000 worth of benefits for repair and auto deductible reimbursement2
- Dedicated TrueCar member service hotline, which includes military car-buying specialists
- Discounts on new and used vehicles from TrueCar network dealers3
- Vehicle condition review on every used car
Navy Federal Media Contact: Jane Myers
About Navy Federal Credit Union: Established in 1933 with only seven members, Navy Federal now has the distinct honor of serving 10 million members globally and is the world’s largest credit union. As a member-owned and not-for-profit organization, Navy Federal always puts the financial needs of its members first. Membership is open to all branches of the armed forces and their families. Dedicated to its mission of service, Navy Federal employs a workforce of over 22,000 and has a global network of 343 branches.
About TrueCar: TrueCar is a leading automotive digital marketplace that enables car buyers to connect to our nationwide network of Certified Dealers. We are building the industry's most personalized and efficient car buying experience as we seek to bring more of the purchasing process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings and market context on new and used cars all with a clear view of what's a great deal. When they are ready, TrueCar will enable them to connect with a local Certified Dealer who shares in our belief that truth, transparency and fairness are the foundation of a great car buying experience. As part of our marketplace, TrueCar powers car buying programs for over 250 leading brands, including AARP, Sam’s Club, and American Express. Nearly half of all new car buyers engage with TrueCar powered sites, where they buy smarter and drive happier. TrueCar is headquartered in Santa Monica, California, with offices in Austin, Texas and Boston, Massachusetts. For more information, please visit www.truecar.com, and follow us on Facebook or Twitter. TrueCar media line: +1 844 469 8442 (US toll free) | Email: email@example.com
Between 1/1/20 and 12/31/20, the average savings off MSRP experienced by consumers who connected with a TrueCar Certified Dealer through a TrueCar-powered auto buying program and who were identified as buying a new vehicle from that Certified Dealer was $3,552. Your actual savings may vary based on multiple factors, including the vehicle you select, region, dealer, and applicable vehicle-specific manufacturer incentives, which are subject to change. 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 many vehicles are sold below MSRP. Each dealer sets its own pricing.↵
Only available when you report your new or used purchase from a Certified Dealer within 45 days. Some benefits are not available in New York or New Hampshire. For more information please visit https://navyfederal.truecar.com/report-purchase/.↵
Used car discounts not available in all states.↵