Frequently Asked Questions

Is there an impact on the user’s credit score?

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No. When a user navigates through our platform assessment, they will agree to a soft credit inquiry that will give our technology enough information to determine credit worthiness, but not a hard credit check to actually become approved for a loan. We bring the buyer through the exploratory phase of the sales process, qualify them for you, and deliver all of their information, including the type of car they would like to purchase and the car that you have in inventory that matches their request.

My dealership already pays for social media ads. Can we also use truMeta?

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Of course! We can adjust to any current social media ad models you have.

Can you limit truMeta ads to my geographic area?

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Absolutely. Ads run through the truMeta platform can be adjusted to any geographic stipulations you would like and can be adjusted over time, as well. The most important piece is that you will not share the data you collect or have to compete against other dealers in your area when a buyer is matched to potential vehicles to purchase. Your truMeta data are yours and yours alone.

What is the time commitment for a contract with truMeta?

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We can customize your agreement based on your preferred time frame and your budget for social media campaigns. To start, we suggest running an ad for at least 3 months and review the success metrics and leads to determine next steps.

Is the data shared or given out?

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No. The benefit of truMeta is that every single piece of data generated from the Shop-By-Payment tool is never sold to another dealer, never shared publicly, and will only be delivered to your dealership. Buyers will also never be directed to another dealer while navigating through the assessment process. Only vehicles from your inventory will be matched to the user’s preferred make and model.

What is the definition of credit qualified?

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When the truMeta platform determines that a buyer is “credit qualified”, this means that based on the information that they provided, they are likely to be approved for a loan by a lender. The information provided, including credit history, make and model they would like, and trade-in is what determines how likely an approval will be.

Our system works on a grading scale that will deliver an eligibility score for how likely it is they will be approved. For example, if a buyer with a 500 credit score is looking to purchase a $75,000 vehicle with no down payment and an unfavorable credit history, their eligibility score will likely be very low. On the other hand, a buyer with a 750 credit score, suitable down payment looking for the same car would have a higher eligibility score. You will have the benefit of knowing upon receiving the super lead if it’s worth following up on. This leads to the secondary benefit of receiving such comprehensive leads from truMeta. You can stop wasting time running hard credit checks on buyers that are not likely to be approved. Those credit checks can add up, not to mention the loss of time and productivity salesmen spend on unqualified candidates.

If a buyer selects a vehicle that suits their needs, are they obligated to buy that specific vehicle?

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Definitely not! The goal of truMeta is to lead the buyer to potentially good fits for their next vehicle based on their own input. Once they are in the door, the shopping can begin just like any other car sale happens, but with the added benefit of knowing the best possible options on your lot and knowing they are likely going to be approved. This makes for an all-over smoother and easier sales cycle.

The benefit of the truMeta process is that when you review the data information, you can look at the buyer’s budget and desired make and model of vehicle. This will allow you to be able to suggest cars that perhaps they had not yet thought about.

Does selecting a vehicle in the truMeta platform require a dealership to hold the vehicle for a potential buyer?

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No. Your dealership still operates as normal. The main goal is to warm up the buyer, let them see and get excited about the vehicles you have currently available that may meet their needs. Even if their preferred vehicle has been sold prior to their arrival at the dealership, there are likely many other similar and suitable options to select from. Many times, people will come to a dealership in person and think they want one make and model, but actually purchase another car after test driving and learning about other makes and models that perhaps they hadn’t considered before. That’s where the expertise of your sales team can shine.

What information is included in the data delivered?

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We are proud to be able to deliver data that are strong and comprehensive. We consider our data just short of a first pencil. The data include the lead source, which is the URL web page that the buyer was on when they clicked the ad.

From there, the buyer provides contact information and their deal preferences, including the make and model they would like. From there, the soft credit check will review monthly income, debt to income ratio, and payments they made to calculate their truMeta eligibility score.

After their eligibility score has been determined, they will be directed to vehicles similar to their preferences that are within their likely approval range for a loan. Finally, the buyer will add if they have any trade-in, which will include submission of the VIN, mileage, and condition. They can also choose to set up a test drive.

These potential buyers are pre-qualified and encouraged to come in person to test drive after seeing the many possibilities for vehicles to get them excited. It also can be done by the user in the privacy of their home, in a self-service fashion, which also takes the headache out of driving from dealer to dealer, attempting to find the perfect vehicle.

What happens to a potential buyer if they don’t purchase a vehicle from my dealership?

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The users of truMeta have opted into sharing their contact information. Knowing this, and the type of vehicle they are looking for, you can add them to your email marketing lists and continue to nurture the inactive leads.

For example, if Susan fills out your ad form and is interested in a small sedan for her new teen driver, but does not purchase from your dealership, you can still continue to send her promotional emails that are focused on small, affordable cars for teens. That way, if she has another driver coming of age, she can keep your dealership top of mind.

Another example where this is useful is if someone wants a specific make and model, but you don’t have exactly what they want in your current inventory. You can set up emails to alert that buyer when the exact make and model are available.

Have more questions? Reach out to the truMeta team to see a demo and learn more about the difference that truMeta social media car sales ads can make for your business.

My dealership is small. Can I still use truMeta?

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Absolutely. We can work with any size dealership to scale your business. truMeta offers a self-running ad model that levels-up your return on advertising investment and alleviates your workload as a dealership owner. This gives you more time to sell and work strategically to grow your business.

For larger businesses, we can work with your team or ad agency to develop and run social media ads that will generate incredibly clean data at scale.

Can my dealership be located anywhere?

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Yes. We can work virtually with your dealership to get the platform up and running on your social media accounts and start collecting leads that will grow your business. This is just another added benefit of pursuing social media placement with truMeta.

What if my dealership does not use social media?

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truMeta is designed specifically for hosting on social media platforms. That being said, based on data, we strongly recommend that all car dealerships have a strong social media presence. In our current market, 71% of consumer buying decisions are influenced by social media. There is a large segment of car buyers who are actively researching on social media and if you’re not there to meet them, another dealer will be.

The benefit of social media is that you have control over your budget. Many of the current dealership ad tactics, like billboards, radio ads, and even TV ads are helpful, but they don’t provide control. You pay a flat fee and hope for the best. With truMeta, you can know that you are only paying for the clicks. Those clicks represent real people who are actively looking for a car. Many times, because of how Facebook ads work, you can actually come in under budget and still gain golden data.

My dealership uses an ad agency. Can I still use truMeta?

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Of course! We work with ad agencies all the time. We are a valuable resource to add to your current marketing efforts. If your dealership leans on a third-party agency to run marketing campaigns, the truMeta team just connects with them to manage the ads and deliver the leads.

What does truMeta cost?

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truMeta pricing, like ad pricing, is based on the timeline and frequency of the ad placement. Connect with our team to begin conversations around your specific lead generation needs. When your dealership places ads with us, we will work within your budget to run ads on social media. The pricing of Facebook ads is based on the length and budget you select. When you run your ad, you’ll only be charged for the number of clicks or the number of impressions your ad received. This is another benefit of social media advertising. Instead of paying a flat rate for a radio ad or a billboard with no idea if those methods will work, you can know that you will only pay for the actual engagement that stems from the ad.

What if a buyer has less than perfect credit?

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That’s okay. Our system has an algorithm that will determine their likelihood of getting an approval from a lender, and also will estimate what their interest rate would be.

Do I have to pay per click for my ad?

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Your truMeta ads will function just like any other social media ad placement. We will determine the length of the campaign, budget and let the ad run continuously with any adjustments made by our team based on the data your ad returns.

If your dealership has never run social media ads before, the truMeta team is happy to help you learn the ropes about how Facebook ads function. When you advertise on Facebook, you set a budget for each ad that you run. Facebook spends your budget evenly throughout the time your ads run. One benefit to social media ad placement is that you can set your own budget and flex it when you choose. You are never charged more than the budget you set.

So when it comes to return on investment with truMeta, we use budget, total spend, and lead generation to determine the success of your campaign.