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Edmunds has rolled out a new Price Promise program designed to give shoppers what it calls the ultimate tool in the car-buying process.
The price-guarantee plan lets shoppers lock in a vehicle price online quoted by dealerships participating in the Price Promise Program.
"This is about a feel-good car shopper experience," said Seth Berkowitz, Edmunds president. "It's about high satisfaction, no stress — making things smoother at the dealership for both shopper and salesperson." Are they on to something?
A car shopper who is interested in a car listed on the Edmunds Web site can instantly receive the dealer's guaranteed price for that car by simply entering three basic pieces of information: name, phone number and e-mail address.
"According to our research, which included talking with over 10,000 car shoppers, the biggest unmet need of car shoppers has been getting an actual price for a car," Berkowitz said. "Edmunds' Price Promise resolves that issue by offering an instant, locked-in price that the dealer will honor."
Of course, that sounds like something that would alleviate stress. But at the same time, if one never haggles, one doesn't know whether they could have secured a better price.
USA Today noted that Edmunds "is hoping to revolutionize how people buy cars and eliminate the No. 1 most frustrating part of the car-shopping process."
Edmunds plans to roll out a national television advertising campaign in the fourth quarter of this year to raise further awareness of the program.
Edmunds says they're hoping to demystify the car-buying process with this innovative program. What about you? Do you have any cars in mind that you might want to investigate?