Updates
Marketing, Planning, & Tech
Car Buying Service improvements on track!
Spring 2024
Winter 2024
Autumn 2023
Spring 2024
- March Insights (CARFAX, Cox Automotive, CNBC, MarketWatch)
- 4.5% increase in new vehicle sales year over year
- Average transaction price for a new vehicle was $47,244 in February, down 2.2% from a year prior
- Average transaction price for a used vehicle, by category, in March:
- SUVs: $23,435
- Cars: $18,229
- Pickups: $33,715
- Luxury SUVs: $33,207
- Luxury Cars: $29,136
- Hybrids and EVs: $29,606
- Vans: $22,850
- Average interest rates are 7.18% for new vehicles and 11.93% for used
Winter 2024
- New: What’s that CU Drive link at the top? Why, it’s a new member benefit your credit union can select! Talk to us to learn more.
- January Insights (The Credit Union Connection)
- Estimated typical monthly payment for a new vehicle in Q4Y23 was $737, up from $707 in Q4Y22, while a used vehicle was $537, up from $529 in Q4Y22
- Happy New Year! We look forward to helping your credit union grow auto lending and empower members with a smooth buying experience and great deals.
- December Insights (Cox Automotive, KBB, GoBankingRates, CNN, USA Today)
- Total used vehicle sales for December 2023 are projected to be up 6.2% year over year
- Average transaction price for a new vehicle was $48,247 and about $26,000 for used in November
- Interest rates average 9.5% for new and 14% for used, down from October’s high
- Estimated typical monthly payment is now $728 on new vehicles and $528 for used
- EVs are now, on average, only about 10% more than a traditional ICE vehicle, with price parity approaching
- Tip: Engage your members with social media content designed to promote your auto loans and Car Buying Service.I
Autumn 2023
- October Insights (Cox Automotive forecasts):
- Total used vehicle sales for October 2023 were down 3.5% year over year
- Average transaction price for a new vehicle was $47,936 in October
- Interest rates averaged 10.55% between both new and used, a new high
- Estimated typical monthly payment is now $767
- Incentives are 4.8% of the average transaction price
Spring 2024
Winter 2024
Autumn 2023
Summer 2023
Spring 2023
Winter 2023
2019-2022
Spring 2024
- March Insights (CARFAX, Cox Automotive, CNBC, MarketWatch)
- 4.5% increase in new vehicle sales year over year
- Average transaction price for a new vehicle was $47,244 in February, down 2.2% from a year prior
- Average transaction price for a used vehicle, by category, in March:
- SUVs: $23,435
- Cars: $18,229
- Pickups: $33,715
- Luxury SUVs: $33,207
- Luxury Cars: $29,136
- Hybrids and EVs: $29,606
- Vans: $22,850
- Average interest rates are 7.18% for new vehicles and 11.93% for used
Winter 2024
- March Insights (
- New: What’s that CU Drive link at the top? Why, it’s a new member benefit your credit union can select! Talk to us to learn more.
- January Insights (The Credit Union Connection)
- Estimated typical monthly payment for a new vehicle in Q4Y23 was $737, up from $707 in Q4Y22, while a used vehicle was $537, up from $529 in Q4Y22
- New: Hail to the Chief…of great car shopping, deals, and financing with our newest President’s Day email templates. Send them out today and show your financial empowerment leadership! View in Marketing.
- Happy New Year! We look forward to helping your credit union grow auto lending and empower members with a smooth buying experience and great deals.
- December Insights (Cox Automotive, KBB, GoBankingRates, CNN, USA Today)
- Total used vehicle sales for December 2023 are projected to be up 6.2% year over year
- Average transaction price for a new vehicle was $48,247 and about $26,000 for used in November
- Interest rates average 9.5% for new and 14% for used, down from October’s high
- Estimated typical monthly payment is now $728 on new vehicles and $528 for used
- EVs are now, on average, only about 10% more than a traditional ICE vehicle, with price parity approaching
- Tip: See the best times of year to promote auto loans and your Car Buying Service with our Sales Seasonality charts.
- Tip: Engage your members with social media content designed to promote your auto loans and Car Buying Service.I
Autumn 2023
- New: Trees are decorated, peppermint abounds, and you have two holiday/end-of-year email templates to share with members! View in Marketing.
- October Insights (Cox Automotive forecasts):
- Total used vehicle sales for October 2023 were down 3.5% year over year
- Average transaction price for a new vehicle was $47,936 in October
- Interest rates averaged 10.55% between both new and used, a new high
- Estimated typical monthly payment is now $767
- Incentives are 4.8% of the average transaction price
- New: Feel those cool winds blow? We’ve got two new Fall email templates gusting in for your use! View in Marketing.
- Reminder: Your TrueCar portals now have Research & Discovery pages to help members make informed buying decisions, with reviews, rankings, and EV guides. Link to them with the following URLs (https://partnername.truecar.com/electric/, for example):
- EV Hub: “/electric/”
- Research Center: “/research/”
- Car Rankings: “/best-cars-trucks/”
Summer 2023
- New: You have members celebrating Labor Day with…a NEW CAR! Give them the best experience (and your competitive rates) by sending out a Labor Day email template. View in Marketing.
- New: Your TrueCar portals now have Research & Discovery pages to help members make informed buying decisions, with reviews, rankings, and EV guides. Link to them with the following URLs (https://partnername.truecar.com/electric/, for example):
- EV Hub: “/electric/”
- Research Center: “/research/”
- Car Rankings: “/best-cars-trucks/”
- Updated: Simplify following up with members after they use your Car Buying Service with call and email scripts.
- Updated: Promote your Car Buying Service on your favorite social media platforms with 50+ sample posts by season, holiday, and evergreen!
- Improved: Launch & Grow is now easier to navigate. Have you embraced all the available resources?
- Updated: Auto Loan Landing Page template improved for current rate situation and sharing the why of your auto lending.
- July Insights (Cox Automotive, KBB, & NerdWallet forecasts):
- Total retail sales for July 2023 are expected to be up 15.3% from a year ago
- Average transaction price for a new vehicle was $48,808 in July
- Interest rates had a volume-weighted average of 9.17% for new and 13.55% for used, based on data from DealerTrack
- Incentives are back! The average incentive is around $2,000 or 4.2% of the average transaction price.
- June Insights (Edmunds, S&P Global Mobility, & Cox Automotive forecasts):
- Total retail sales for June 2023 are expected to be up 17% from a year ago and up 13.8% from Q1
- Average transaction price for a new vehicle was a near-record $48,564 at an interest rate of 7.09%
Spring 2023
- May Insights (TrueCar forecasts):
- Total retail sales for May 2023 are expected to be up 20% from a year ago and up 6.5% from April
- Average transaction price is projected to be up 2.7% from a year ago and about even with April
- Used vehicle sales for May 2023 are expected to reach 3.1 million, down 4% from a year ago and up 1% from April
- Financing Averages:
- New interest rate is 7.1% for 69 months
- Used interest rate is 10.75% for 70 months
- Read TrueCar’s May Car Sale Forecast.
- New: Sales seasonality charts. Using years of data, discover when the most car sales are made.
- New: July 4th email template. Help members celebrate our country’s birthday with easy car shopping and knowing what other paid! See it and others in Marketing.
- April Insights (TrueCar forecasts):
- Total retail sales for April 2023 are expected to be up 10% from a year ago and even with March
- Average transaction price is projected to be up 2.8% from a year ago and down 1% from March
- Used vehicle sales for April 2023 are expected to reach 3 million, down 1% from a year ago and down 6% from March
- Financing Averages:
- New interest rate is 6.95% for 69 months
- Used interest rate is 10.79% for 70 months
- Read TrueCar’s April Car Sale Forecast.
- Updated: The MSRP Savings language is temporarily retired as recommended marketing, given the current market forces. We recommend featuring the upfront pricing, visibility into what others paid, real-time inventory, and integration with your CU financing and protection products as the best ways to promote your Car Buying Service. For questions, please Contact Us.
- New: Value Proposition slides to get a full picture of how your Car Buying Service serves members, whatever the market does. Find it along with other useful content in Launch & Grow.
- New: Seasonal banner sets to feature in your newsletters, social media, and website. Appropriate for the entire year! Get them in Marketing.
- New: Memorial Day email template. You know the drill: Add logo, disclosures, and send on out to members! Get it in Marketing.
- March Insights (TrueCar forecasts):
- Total retail sales for March 2023 are expected to be up 7% from a year ago and up 4% from February
- Average transaction price is projected to be up 5.6% from a year ago and even with February
- Used vehicle sales for March 2023 are expected to reach 3.4 million, down 3% from a year ago and up 6% from February
- Financing Averages:
- New interest rate is 6.97% for 69 months
- Used interest rate is 11% for 70 months
- Read TrueCar’s March Car Sale Forecast.
- New: With spring here, welcome the greenery with a personalized email template! Send it out with the warming breezes! Get the Spring Email Template, and more, in Marketing.
- New: Staff Training video, with full demo of platform! In under 13 minutes, ensure your staff understands the value of the system, as well as how it works, inside and out. Get them excited to refer to members!
- Reminder: Would you like a live staff training session? Contact us to schedule one or more for your branch staff, managers, and more.
Winter 2023
- February Insights (TrueCar forecasts):
- Total retail sales for February 2023 are expected to be up 5.6% from a year ago and up 4.8% from January
- Average transaction price is projected to be up 5% from a year ago and even with January
- Used vehicle sales for February 2023 are expected to reach 2.8 million, down 8% from a year ago and up 5% from January
- Financing Averages:
- New interest rate is 6.9% for 69 months
- Used interest rate is 10.5% for 70 months
- Read TrueCar’s February Car Sale Forecast.
- January Insights (TrueCar forecasts):
- Total retail sales for January 2023 are expected to be up 6.5% from a year ago and down 6.6% from December 2022
- Average transaction price is projected to be up 3% from a year ago and down 2% from December 2022
- Used vehicle sales for January 2023 are expected to reach 2.5 million, down 21% from a year ago and even with December 2022
- Financing Averages:
- New interest rate is 6.9% for 69 months
- Used interest rate is 10% for 70 months
- Read TrueCar’s January Car Sale Forecast.
- Updated: We have a need, a need for speed. That’s why we optimized the backend to nearly double performance on this site!
- Updated: Members can now choose to include or exclude “distance purchasing” results on used vehicles for more shopping choices
- Happy New Year! We are excited to bring you a massive addition of content for your 2023 auto lending efforts.
- Updated: Credit Union Launch Kit (2023)
- New: Website imagery for Evergreen and Seasonal use
- New: Social media banners
- Updated: Larger database of vehicle images
- Updated: Getting Started is now “Launch, Grow, & Shine”. It’s packed full of useful tools, resources, and guides that will ensure ongoing success of your partnership.
- December Insights (TrueCar forecasts):
- Total retail sales for December 2022 are expected to be up 4.5% from a year ago and up about 4% from November 2022
- Average transaction price is projected to be up 2% from a year ago and up 1% from November 2022
- Used vehicle sales for December 2022 are expected to reach 2.5 million, down 10% from a year ago and down 7% from November 2022
- Financing Averages:
- New interest rate is 6.7% for 70 months
- Used interest rate is 10% for 70 months
- Read TrueCar’s December Car Sale Forecast.
2019-2022
Autumn 2022
- New: Help members celebrate the new year with a new car! Send out this end-of-year themed email template to keep them close during their holiday shopping. View in Marketing.
- November Insights (TrueCar forecasts):
- Total retail sales for November 2022 are expected to be up 7% from a year ago and about even with October 2022
- Average transaction price is projected to be up 3% from a year ago and down 1% from October 2022
- Used vehicle sales for October 2022 are expected to reach 3 million, down 13% from a year ago and even with October 2022
- Financing Averages:
- New interest rate is 6.6% for 70 months
- Used interest rate is 9.8% for 71 months
- Read TrueCar’s November Car Sale Forecast.
- Updated: The Search Widget now includes the popular Sell Your Car functionality built-in! Download the code, update colors and links for your brand, and help members make their car buying (and selling) journey simple!
- Updated: Landing page template updated with improved recommended language and benefits for members. Grab it now!
- October Insights (TrueCar forecasts):
- Total retail sales for October 2022 are expected to be up 15% from a year ago and about even with September 2022
- Average transaction price is projected to be up 3% from a year ago and slightly down from September 2022
- Used vehicle sales for October 2022 are expected to reach 3 million, down 13% from a year ago and even with September 2022
- Financing Averages:
- New interest rate is 6.3% for 70 months
- Used interest rate is 9% for 71 months
- Read TrueCar’s October Car Sale Forecast.
- New: Discover what your members want most in their car buying journey (and the vehicles they end up getting). Spoiler: Doing more online and getting the most for their money are both top of the list!
- Read the TrueCar Automotive Shopper Trends Report.
- September Insights (TrueCar forecasts):
- Total retail sales for September 2022 are expected to be up 13% from a year ago (when inventories were at their lowest) and up 3% from August 2022
- Average transaction price is projected to be up 6% from a year ago and slightly down from August 2022
- Used vehicle sales for September 2022 are expected to reach 3 million, down 11% from a year ago and down 4% from August 2022
- Financing Averages:
- New interest rate is 5.9% for 70 months
- Used interest rate is 9% for 71 months
- Read TrueCar’s September Car Sale Forecast.
- Updated: Videos available for member and internal use. Ensure your staff understand what your TrueCar portal offers for members. View in Marketing.
Summer 2022
- August Insights (TrueCar forecasts):
- Total retail sales for August 2022 are expected to be up 9% from a year ago and even with July 2022
- Average transaction price is projected to be up 10% from a year ago and slightly down from July 2022
- Used vehicle sales for August 2022 are expected to reach 3 million, down 17% from a year ago and up 4% from July 2022
- Financing Averages:
- New interest rate is 5.7% for 70 months
- Used interest rate is 8.7% for 71 months
- Read TrueCar’s August Car Sale Forecast.
- New: Email templates for Labor Day (a pair of them, actually!) and the Fall season are available to easily keep members close throughout their car buying journey. View in Marketing.
- July Insights (TrueCar forecasts):
- Total retail sales for July 2022 are expected to be down 10% from a year ago and down 2% from June 2022
- Average transaction price is projected to be up 12% from a year ago and about the same as June 2022
- Used vehicle sales for July 2022 are expected to reach 3 million, down 17% from a year ago and up 4% from June 2022
- Financing Averages:
- New interest rate is 5.5% for 71 months
- Used interest rate is 8.5% for 71 months
- Read TrueCar’s July Car Sale Forecast.
- New: More Choice. More Loans with Distance Retailing. Members can’t find the car they want nearby? No problem…now get them shipped straight to their driveway. Available vehicles display in results with shipping charges prominently visible. Guarantees to protect members upon delivery. Talk to your agent to learn more.
- New: Summer Email Template available to send out to members. View in Marketing.
- New: Additional vehicle imagery for promoting your car buying service. Featuring bright summer colors! View in Marketing.
- New: “Your Summer Ride Awaits” image set available in a range of sizes as PSD for easy customization. Use for emails, in your mobile app, within online banking, and on your home page. View in Marketing or get the set now.
- June Insights (TrueCar forecasts):
- Total retail sales for June 2022 are expected to be down 14% from a year ago and down 3% from May 2022
- Average transaction price is projected to be up 13% from a year ago and up 2% from May 2022
- Used vehicle sales for June 2022 are expected to reach 2.9 million, down 16% from a year ago and down 13% from May 2022
- Financing Averages:
- New interest rate is 5.2% for 71 months
- Used interest rate is 8% for 71 months
- Read TrueCar’s June Car Sale Forecast.
Spring 2022
- May Insights (TrueCar forecasts):
- Summary:
- Total retail sales for May 2022 are expected to be down 17% from a year ago and up 10% from April 2022
- Average transaction price is projected to be up 14% from a year ago and similar to April 2022
- Used vehicle sales for May 2022 are expected to reach 3.1 million, down 19% from a year ago and down 8% from April 2022
- Financing Averages:
- New interest rate is 5.1% for 71 months
- Used interest rate is 8% for 71 months
- Read TrueCar’s May Car Sale Forecast.
- New: TrueCar named among Top 100 Most Customer-Centric Companies of 2022! Celebrate your Car Buying Service by keeping it top-of-mind. With high prices and low supply, provide the industry’s best experience for your members!
- Updated: “Sell Your Car” trade-in valuation now provides information for members with leased vehicles and any limitations in place.
- April Insights (TrueCar forecasts):
- Summary: Inventory continues to be primary sales constraint. Toyota reports 90% of vehicle stock is in-transit versus on dealer lots. Increased fuel prices and interest rates may provide headwind on sales, allowing inventories to grow in the next month.
- Total retail sales for April 2022 are expected to be down 21% from a year ago and down 1% from March 2022
- Average transaction price is projected to be up 15% from a year ago and down 1% from March 2022
- Used vehicle sales for April 2022 are expected to reach 3.4 million, down 15% from a year ago and down 5% from March 2022
- Read TrueCar’s April Car Sale Forecast to better plan for member activities (and make a marketing campaign that serves their needs)
- Financing Averages:
- New interest rate is 4.8% for 70 months
- Used interest rate is 8% for 71 months
- New: Give your members an easy way to find how much their car is worth. Insert the new True Cash Offer banner onto your Car Loans page. Find it in Marketing.
- March Insights (TrueCar forecasts):
- Projections:
- New vehicle sales will increase slightly, driven by fleet purchases.Inventory continues to be a challenge, and fuel prices may impact large vehicles sales.
- Interest rate increases will begin to affect vehicle loan financing in the coming months, as used rates are already on the rise.
- Total retail sales for March 2022 are expected to be down 24% from a year ago and up 2% from February 2022
- Average transaction price is projected to be up 15% from a year ago and down 1% from February 2022
- Used vehicle sales for March 2022 are expected to reach 3.6 million, down 13% from a year ago and up 1% from February 2022
- Read TrueCar’s March Car Sale Forecast to advance your loan strategies (and plan that marketing campaign!)
- Financing Averages:
- New interest rate is 4.6% for 70.1 months
- Used interest rate is 7.97% for 70.7 months
- Projections:
- Updated: The latest savings disclosure is now available. Use on your websites and marketing emails. After a year of record price increases, inventory challenges, and ongoing shortages, member savings will be lower than in the past. However, your TrueCar portal is still the best place for members to start their car buying journey. With member discounts, real-time inventory, free vehicle history reports, and a direct channel to address any issues, the TrueCar portal positions your credit union as the best way for people to buy and finance a car.
- Between 1/1/21 and 12/31/21, 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 $1,824. 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. The 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.
- New: Spring email template now available in Marketing. With inventory just starting to improve and pricing leveling out, your members are resuming their car searches. Be part of that journey by sending this email!
- Reminder: 2022 model year vehicle imagery for use on your website, emails, or other Car Buying Service content! View selected images in Marketing. Additional vehicles, colors, and angles available upon request.
- February Insights (TrueCar forecasts):
- Total retail sales for February 2022 are expected to be down 10% from a year ago and up 7% from January 2022
- Incentive spend is down 53% from last year
- Average transaction price is projected to be up 15% from a year ago and down 1% from January 2022
- Used vehicle sales for February 2022 are expected to reach 3.2 million, down 9% from a year ago and up 8% from January 2022
- Read TrueCar’s February Car Sale Forecast to advance your loan strategies (and plan that marketing campaign!)
- Financing Averages:
- New interest rate is 4.5% for 70 months
- Used interest rate is 7.4% for 70 months
Winter 2022
- New: Engage members looking for cars during a major buying holiday. The President’s Day email template is now available in Marketing. Send it out to insert your credit union in their car buying journey!
- Car Buyer Insights (from Cars.com data):
- 41% of buyers plan to pre-order their vehicle
- 41% want to trade in/sell their current vehicle before buying a new one (Use the TrueCar Trade email!)
- 38% expect to complete the entire buying process online
- 38% will buy in person but expect all paperwork completed online
- Will spend 19 hours researching online
- 68% will consider EVs
- 60% bought in 2021 despite inventory shortages and price increases
- January Insights (TrueCar forecasts):
- Total retail sales for January 2022 are expected to be down 9% from a year ago and down 7% from December 2021
- Average transaction price is projected to be up 16% from a year ago and down 2% from December 2021
- Used vehicle sales for January 2022 are expected to reach 2.9 million, down 9% from a year ago and down 2% from December 2021
- Read TrueCar’s January Car Sale Forecast to help plan strategies (it’s a great time to start planning a marketing campaign!)
- Financing Averages:
- New interest rate is 4.3% for 69 months
- Used interest rate is 7.4% for 70 months
- December Insights (TrueCar forecasts):
- Total retail sales for December 2021 are expected to be down 27% from a year ago and even with November 2021
- Average transaction price is projected to be up 7.5% from a year ago (all-time high) and up 2.5% from November 2021
- Used vehicle sales for December 2021 are expected to reach 3 million, up 3% from a year ago and down 2% from November 2021
- Read TrueCar’s December Car Sale Forecast to help your projections and ensure members are empowered!
- Averages (unchanged from November):
- New interest rate is 4.3% for 70 months
- Used interest rate is 7.5% for 70 months
Fall 2021
- November Recap (TrueCar data insights):
- Best Deals on New/Used Vehicles
- Inventory is 2.5-3M below historical levels
- Total retail sales for November 2021 are expected to be down 16% from a year ago and up 16% from October 2021
- Average transaction price is projected to be up 9% from a year ago (all-time high) and up 2% from October 2021
- Used vehicle sales for November 2021 are expected to reach 3 million, up 2% from a year ago and down 12% from October 2021
- Read TrueCar’s November Car Sale Forecast to help your projections and ensure members are empowered!
- Averages:
- New interest rate is 4.3% for 70.1 months
- Used interest rate is 7.5% for 70.2 months
- Insights: Electric vehicles (EVs) are the new normal, with every manufacturer planning on converting their fleet. Ensure your members and staff understand what this means and answer common questions about them with TrueCar’s EV guide (And yes, they’re really fast!)
- New: Get your holiday promotions going strong with the latest holiday email. Add your logo, links, and disclosure, then send! Available in Marketing.
- Insights: TrueCar data shows that used car list price is up 31% YOY. Keep this in mind for offering protection products (they’re even more important!) as well as helping members afford the increased monthly expense.
- Note: With used vehicles in high demand, help make sure your member’s top picks are in good shape. Flood-damaged vehicles can be an expensive and frustrating proposition. Learn more with TrueCar and Experian’s report.
- Reminder: While you’re planning for 2022, your members are looking for cars. Sometimes, with a lot of trouble. Help them along with your Car Buying Service, finding exact models, pricing charts, and trade-in values. Grab one of our Autumn-themed emails to send today!
Summer 2021
- Update: For used car searches, you can now filter by vehicle history (# of owners, accidents, title, etc.). Tell your members so they can make faster and more informed decisions!
- New: Labor Day email template now available in Marketing. Want more than the 2021 version? Choose from 4 years of Labor Day emails! Then just add your CU name, logo, disclosures, link, and send them out. Plan now to get results later!
- July Recap (TrueCar data insights):
- Total retail sales for July 2021 are expected to be flat from a year ago and down 7% from June 2021
- Average transaction price is projected to be up 5% from a year ago and even with June 2021
- Used vehicle sales for July 2021 are expected to reach 3.7 million, down 4% from a year ago and up 1% from June 2021
- Read TrueCar’s July Car Sale Forecast and Monthly Best Deals to help your projections and ensure members are empowered!
- Averages:
- New financing is $37,782 for 69.5 months (70.2 last year) @ 4.53%, down 19 bps from last year
- Used financing is $29,329 for 69.5 months (67.5 last year) @ 7.42%, down 65 bps from last year
- Update: Noticing some new banners in your portal? Vehicle search pages now feature “as low as” rate callouts or language encouraging members to apply for financing.
- June Recap (TrueCar data insights):
- Total retail sales for June 2021 are expected to be up 16% from a year ago and down 16% from May 2021
- Average transaction price is projected to be up 5% from a year ago and up 2% from May 2021
- Read TrueCar’s Car Sale Forecast and Monthly Best Deals across all lease/financing and vehicle types
- Averages:
- New financing is $37,402 (up 3% vs May) for 69.7 months (69.8 last year) @ 4.45%, down 6 bps from last year and down 16 bps from May
- Used financing is $28,683 (up 2% vs May) for 69.1 months (67.6 last year) @ 7.46%, down 47 bps from last year and down 20 bps from May
- May Insights: Read TrueCar industry insights and car sale forecasts from May. Then use what you’ve learned to plan a marketing strategy that helps exceed revenue goals.
- Take-home points: Manufacturer incentives are down and it’s a seller’s market for your existing used vehicle.
- New: 4th of July email template now available in Marketing. Download one HTML file, add your CU name, logo, and disclosures. Then send out to your members to get summer loan volume up!
Spring 2021
- Did you know? Members are only presented with one dealer in new car searches, helping to reduce “noise” (members may choose more if they desire). Dealers are also encouraged to avoid phone calls.
- New: Landing page template now available. Take advantage of easy best-practices on your website for driving in-market members to your Car Buying Service.
- Updated: The Marketing page is getting busy! We’ve added navigation buttons to make finding what you need easy and fast.
- New: Spring Savings promotional email is now available in Marketing. Add your name, logo, and get those loan applications blossoming!
- Updated: The MSRP Savings Disclosure with 2020 data is now available for your use. Insert at the bottom of websites and emails.
- 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. The 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.
Winter 2021
- New: Trade-In Offers Email template now available in Marketing. Help members get a guaranteed trade-in value on their existing vehicle.
- Case Study: Improved website layout makes a huge impact! One credit union saw a 60% increase in daily organic activity after adding Search Widget and clear value-propositions. Contact your Frost agent to get a complimentary site review.
Autumn 2020
- New: The New vehicle process now includes TrueCar Trade so people can get guaranteed pricing for both the car they want and the car they have.
- New: Winter and holiday email template now available in Marketing. Spread some seasonal cheer and grow direct lending!
- New: “Low Noise” vehicle search experience is now available for partners. Among many improvements, only one dealer receives member information upon becoming a Prospect. Discover the entire update by setting up a meeting with your Frost agent!
- Update: Staff Training Introduction video now includes additional features such as TrueCar Trade, Buy From Home, and more.
- New: You asked for a variety of vehicle images to use in your Marketing. We’ve got them for all kinds of cars. Sample in Marketing.
- New: Fall email template now available in Marketing. Simply add your logo, URL, and Unsubscribe button!
- New: Buy From Home promo videos now available in Marketing. Insert them on your Auto Loans or Car Buying Service pages.
Summer 2020
- Update: Labor Day banner image now available in high resolution in Marketing.
- New: Labor Day marketing email template available in Marketing. Features Buy From Home for contactless purchasing.
- New: Search Widget universal code now available! Boost member engagement in 3 steps. Get the all-in-one widget now!
- New: 4th of July marketing email template available in Marketing
- Note: Be sure to review the recent updates in Spring to be sure you’re “running on all cylinders”!
Spring 2020
- New: Need vehicle imagery for your marketing content? View the latest, some with Fall-focused designs, in Marketing.
- Update: The 2019 MSRP savings average is now available. This year, the number is based on all of your credit unions exclusively! Frost partners average savings: $3,572. Use this disclaimer:
- Between 1/1/19 and 12/31/19, the average savings off MSRP experienced by consumers who connected with a TrueCar Certified Dealer through the Frost Financial, Inc. Auto Buying Program and who were identified as buying a new vehicle from that Certified Dealer was $3,572. 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. The 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.
- New: All credit unions with 200 or more qualifying sales in a calendar year get an average MSRP savings unique to your members! Your Frost agent will be in touch to provide that value.
- New: TrueCar Buy From Home explainer video. Only 10 seconds so everyone has time to watch! Right click to download.
- New: TrueCar Buy From Home E-mail template. Not everyone can wait to buy. Help them do it safely while capturing the financing and protection.
- Update: TrueCar Trade is again presenting TrueCash Offers (a guaranteed price for the vehicle).
Winter 2020
- Update: Due to the challenges with vehicle sales and auctions right now, TrueCar Trade is now presenting True Cash Estimates. As the economy begins to operate again, it will revert back to the TrueCash Offer (a guaranteed price for the vehicle).
- New: All Car Buying Service portals now display Home Delivery for participating dealers which can handle entire purchasing process remotely (and provide enhanced sanitization procedures).
- New: COVID-19 and its economic impacts raise a lot of questions. We’re here to help. From OEM incentives to finance company actions, this information assists your planning and response. Updated 5/29/20
- New: Introduce your Car Buying Service to staff in under 5 minutes. Video details why, what, and how your service benefits the institution and members, while addressing common member objections.
- New: Want your Car Buying Service in your mobile banking app? We do, too! Here’s the guide.
- Improved: The Price Rating for Used vehicle searches is now at the top of the filters. It will also display the amount below list price on most cars. Promote this easy savings tool to your members!
- Updated: “Powered by” TrueCar graphics added to logo set. No more big TrueCar banners on your Car Buying Service landing pages! Use these to support, not replace, your credit union brand.
- New: TrueCar promotional videos are perfect for your website and social media. Use the videos to generate interest in your service, then link to your portal!
- New: TrueCar brand refresh! Their entire design is enhanced to better engage your members. It focuses on clean and clear animations, colors, and welcoming product flows. The new brand highlights the personalization of car buying while featuring even better price reports and sorting capabilities. Get the latest logos.
- New: This website! We’ve completely rebuilt Frost Auto Buying to better serve you and your members. It’s faster than ever and works with nearly any device you use! Plus, the new platform will allow us to create better experiences in the future!
- New: TrueCar Trade is arriving on your portal! This will let your members enter their license plate number, complete some details on their car, and get a guaranteed trade-in price for their car. From any device! We’ll be setting up meetings to demo and train staff on how this system can enhance your member engagement and lending process.
- New: The Staff Training video is updated to feature the latest portal capabilities. Share it with your team to educate, excite, and drive more member activity! (Which means more loans and ancillary products!)
- Updated: Do you really need our “new and exciting” information from 2014? Probably not. So we’ve cleaned this section up. We will display the previous year for your reference.
Autumn/Winter 2019
- News: J.D. Power’s 2019 New Autoshopper Study finds TrueCar portals like yours are the “most visited and most useful independent websites among new-vehicle buyers for the sixth year in a row“!
- New: The days still feel long and the heat is on, but the holidays are coming soon! With it comes increased car buying…and financing opportunities! Stay in front of your members with these ready-made e-mail templates, perfect for the holiday season. Grab them now in Marketing.
- Coming soon: Improvements to the used car platform will help your members where they spend the most time.
- Did you know? About 60% of your members are accessing your Car Buying Service through mobile. Is your handheld experience up to par on your website and in-app? Does it easily refer potential car buyers to the service?
Summer 2019
- Reminder: Summer heat brings increased car buying from your members! Get in front of them with regular e-mail blasts! Latest are always available in Marketing.
- New: How long has it been since your member-facing staff received training on your Car Buying Service? With turnover, it’s possible they don’t know anything about how it helps members! Schedule an updated training session to highlight the functionality and member benefits of your Car Buying Service.
Winter/Spring 2019
- Updated: Integrating your Car Buying Service into your website just got easier! Our Search Widget Sample Code is improved based on feedback from TrueCar and credit unions like yours. Embed away!
- Updated: Launch Kit now available! Includes suggested marketing dates, site best practices, and much more!
- New: You get a Marketing template! You get a Marketing template! Everyone gets marketing templates!
- Seasonal E-mails and Banners: Summer, Fall, Winter
- Holiday E-mails: 4th of July, Labor Day, & New Year’s
- Evergreen E-mail & Banner
- Get them all in Marketing!
- New: Did you know Memorial Day is the best car buying weekend of the year? Engage members and book some loans with the help of our newest Marketing content!
- Updated: The newest Average Savings off MSRP is now available (it went up to $3402!). Please update your sites and marketing pieces with the following disclaimer:
- *Between 7/1/18 and 9/30/18, the average savings off MSRP presented by TrueCar Certified Dealers to users of TrueCar powered websites based on users who received in-stock price offers and who TrueCar identified as purchasing a new vehicle of the same make and model as one of the in-stock price offers from a Certified Dealer as of 10/31/18, was $3,402. 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. The 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.