SANTA MONICA, Calif. -
TrueCar said Tuesday that it will soon roll out a used-vehicle pricing index that it contends can provide a precise picture of used-vehicle asking price trends and actually help dealers sell these vehicles quicker.
ClearBook — slated to debut before the end of the year — is designed to gather, aggregate and examine used-vehicle asking price data in a given market, and then present the trends that are found. The tool will show the trending in used-car asking prices on a curve, just like the company does for its new-car price distribution curve.
Shoppers will be able to “transparently and easily understand what a similar used car is selling for based on actual market listing prices,” officials explained.
The data will share the high and low asking prices as well as the actual distribution of these prices. TrueCar contends that doing so “provides a precise understanding of the market.”
Officials noted: “By aggregating used-car listings in a specific area and providing clear, indisputable pricing analysis based on actual market data, ClearBook will facilitate faster sales for dealers and set more realistic expectations for buyers and sellers.”