![]() ![]() Straighter teeth without the expense and pain of an orthodontist? That, in a nut shell, is the business model of Nashville, Tennessee-based SmileDirectClub. The company is constantly making upgrades to its online portal, most recently adding a “Deal Builder” feature that allows people to structure a distinct agreement based on trade-in valuation, accessories, preferred loan terms, credit profile and so on before completing the transaction at an actual dealership. But TrueCar formed a new arrangement with the Navy Federal credit union in March of this year, providing it access to Navy Federal’s 10 million-plus members. TrueCar hit a speed bump last fall when it lost a lucrative referral deal it had with the United Services Automobile Association (USAA) that had accounted for 29% of its vehicle sales. While still unprofitable, nearly one million cars were bought through its dealer network in 2020. There are now more than 15,000 TrueCar certified dealers across the U.S., each of whom pays TrueCar for access to potential buyers. each year, and that number is on the rise as consumers shift to pre-owned vehicles coming out of the pandemic now that they commute to work less frequently. The service enables people to see what others paid for new and used vehicles in their local area.Ībout 41 million used cars are sold in the U.S. ![]() Santa Monica-based TrueCar is an automotive pricing website for consumers who are shopping for both new and used cars. The rise in the share price has been steady and volatility kept to a minimum. ![]() However, TRUE stock is actually up 86% from a year ago when it was changing hands at $2.98. At just $5.70 a share, TrueCar’s stock looks downright cheap. ![]()
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