TrueCar Changes Online Credit Application for Boards and Drivers

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Two of TrueCar’s latest moves have dealerships at the focal point.

In addition to piloting a new online credit application feature, TrueCar announced the election of a new board member who happens to be the general manager of a franchised dealership.

With board changes effective Oct. 27, TrueCar welcomed Capistrano Valley Toyota chief executive Brendan Harrington, taking the place of Wesley Nichols, who resigned from the leadership group.

After these changes, TrueCar said its board remained composed of eight directors, including three women and seven independents.

TrueCar pointed out in a press release that Harrington has extensive automotive retail experience. He is currently the General Manager of Capistrano Valley Toyota in San Juan Capistrano, California.

From 2018 to 2020, Harrington served as chief operating officer of Penske Motor Group, which operates auto dealerships in California and Texas. He previously held several leadership positions with Penske Motor Group beginning in 2003, including President and CEO of Longo Toyota & Scion.

Harrington has also held product-related roles for Mercedes-Benz USA and Nissan North America.

“We are delighted to welcome Brendan to TrueCar’s Board of Directors. His success with high-performing major dealerships combined with his OEM experience make him a great addition to our Board of Directors,” TrueCar President and CEO Mike Darrow said in the press release. “We look forward to his insights and contributions as TrueCar continues to work with our network of Certified Dealers and OEM partners to deliver a modern marketplace that brings the car shopping experience online.”

And in other company news mentioned in another release, TrueCar said it was testing a new online credit application feature as part of the core product offering on truecar.com for consumers. from southern California.

TrueCar said the pilot — which is launching with nearly 200 dealerships — will allow consumers who visit truecar.com to structure VIN-specific lease, finance or cash payments online and instantly apply for credit approval.

TrueCar’s new online credit application pilot offers extensive incentive programs, plus applicable taxes and fees, to provide full price transparency and tailors implementation to each participating dealer’s preferences, such as activation auto finance companies chosen by the dealer.

“This online credit application is a further step towards online vehicle transactionability. We know it’s important for our lending partners to have more opportunities to provide upfront financing to consumers,” said Darrow. “We continue to bring new features to TrueCar that enhance both consumer and dealership experiences.”

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