BIRMINGHAM, Ala., Oct. 5, 2011 /PRNewswire/ -- BBVA Compass, one of the 20 largest banks in the U.S. based on deposit market share, today announced that it is joining with TrueCar, Inc. a leading provider of online car-buying programs, to launch a car-buying program for its customers.
The BBVA Compass Car-Buying Service is available to customers at www.bbvacompass.zag.com. The service allows customers to research and price new and used cars online, without revealing their contact information, in order to receive a price quote – all price quotes are offered online and upfront. (2) Additionally, through TrueCar's proprietary technology, BBVA Compass customers will see what others paid for the same car, providing further price confidence.
"At BBVA Compass, we strive to find solutions for our customers that are easy and convenient," said Jon Mulkin, consumer segment director for BBVA Compass. "We've hit that mark with the online auto-buying service powered by TrueCar."
Mulkin continued, "Now, not only can our customers configure the exact car they want and get an upfront guaranteed price from the comfort of their home, but with the Price Protection Certificate, they are assured that the price they receive online is the same price they will pay at the dealer."
Across TrueCar's more than 60 membership-based car buying programs, consumers have seen an average savings of more than $4,000 off of MSRP. And, with a nationwide certified network of over 5,000 dealers handpicked for competitive pricing and customer service, buyers are assured a hassle-free experience. Customers who are interested in purchasing a used car also realize added value through the service, which may include a free warranty, multi-point inspection, and free local delivery.
"BBVA Compass understands that its customers have come to expect upfront pricing in their daily lives," said Bernie Brenner, chief strategy officer of TrueCar. "TrueCar brings the same truth and transparency to car buying that now exists in travel, electronics and other industries. We believe that this will help consumers win and dealers thrive for many years to come."
For more information on the BBVA Compass Car Buying Service, customers may contact 1-800-Compass or go to www.bbvacompass.zag.com.
ABOUT BBVA COMPASS
BBVA Compass is a Sunbelt-based financial institution that operates more than 712 branches including 374 in Texas, 93 in Alabama, 78 in Arizona, 65 in California, 45 in Florida, 36 in Colorado and 21 in New Mexico. BBVA Compass ranks among the top 20 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (3rd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of the nation's leading Small Business Administration (SBA) lenders, earning 'Lender of the Year' honors in 2009 and 2010. Additional information concerning BBVA Compass can be found on our website www.bbvacompass.com.
BBVA Compass is a subsidiary of BBVA Compass Bancshares, Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a financial services group with approximately $800 billion in total assets, 48 million clients, 7,400 branches and approximately 110,000 employees in more than 30 countries. BBVA ranks among the top 20 largest financial institutions in the world based on market capitalization and 17th in Global Finance magazine's list of the "World's 50 Safest Banks" for 2011. BBVA provides its customers around the world with a full range of financial services, including commercial and wholesale banking, retail banking services, consumer loans, mortgages, credit cards, securities brokerage, wealth management, pension plan management and insurance. The BBVA Group maintains a leadership position in Spain, Mexico, Latin America and the Sunbelt Region of the United States, as well as operations in China, France, Germany, Hong Kong, Italy, Japan, Singapore, Switzerland, Turkey, and the United Kingdom. More information about the BBVA Group can be found at www.bbva.com.
ABOUT TRUECAR, INC.
TrueCar, Inc. has changed how cars are sold by providing a significantly better customer experience -- helping qualified dealer partners gain incremental market share and reduce costs. As a transparent, visual publisher of new car transaction data, TrueCar price reports help both dealers and consumers agree on the parameters of a fair deal by providing an accurate, comprehensive and simple understanding of what others actually paid for the identically equipped new car over the last 30 days both locally and nationally.
TrueCar, Inc. is headquartered in Santa Monica, CA and has offices in San Francisco. The company was founded in 2005 and has been profitable since 2009. With 131 percent annual growth since 2006, TrueCar has driven over 350,000 sales and is developing a suite of transaction oriented products and services centered on transparency and radical clarity as a result of comprehensively analyzing market data and information. You can follow TrueCar on Twitter and become a fan of TrueCar on Facebook.
(1) Prices vary by area. Average savings off of MSRP including incentives as of June 30, 2011. Based on actual customer transactions.
(2) Texas users will not see upfront pricing or have a Low Price Guarantee on new cars due to Texas state regulations.
Editor's Note: BBVA Compass is a trade name of Compass Bank. Compass Bank, member FDIC.
TrueCar is not an affiliate of BBVA Compass.
SOURCE BBVA Compass