While Edmunds.com was launched in 1997, the Edmunds company was started in 1966 as a publishing company specializing in the consolidation of automotive specification data. Edmunds distributed printed booklets targeting car shoppers to help them make informed buying decisions. Decades later in the 1990s, Edmunds released its data on CD-ROM plus other notable books dedicated to car buyers. One of these books was Edmunds Strategies for Smart Car Buyers. Another was Edmunds New Cars & Trucks Buyer's Guide. Its first web presence occurred in 1994 with a guest post on a site named the Electronic Newstand. Today as Edmunds.com, the company made its services digital—and the rest is history.
Edmunds.com promises to be the path to savings when it comes to buying a car online. Search for any new or used car online and compare multiple price offers among its extensive network of over 10,000 dealers nationwide. Choose the deal you want and bring your printable certificate to the dealership. This certificate can save thousands of the manufacturer’s suggested retail price. Plus, you will receive contact from a dealer to guide you through the process.
Edmunds specializes in providing customers all they need to know before buying a used or new car. Using Edmund’s nationwide database, customers can find a complete listing of used or new cars in their area. They can search Edmund’s car inventory by make, model or body type. Their used car listings include photos, videos, vehicle details and pricing, along with easy ways to contact the dealership for more information.
To do this, customers are provided with the following tools:
- Compare Cars tool
- New Car Price Quotes
- Edmunds True Market Value®
- Edmunds True Cost to Own®
One of the best parts of Edmunds.com is its True Cost-to-Own feature that reveals the real hidden costs in a vehicle’s purchase and maintenance over 5 years. Sometimes, a car may be cheap to buy at first but then requires high maintenance costs over time. Comparing vehicles side-by-side through this feature will reveal this information ahead of time and help you save money in the future.
Eight factors are taken into account in determining the 5-year cost of the vehicle. The True Cost-to-Own report calculates the vehicle’s depreciation, interest on financing, taxes and fees, insurance premiums, fuel, maintenance, repairs, and federal tax credit over the course of the 5 years to determine this information. Edmunds also compiles all this exhaustive data into an easy-to-read pie chart so you can see at a glance what problems you may run into after purchasing the vehicle.
One of Edmund’s signature offers is what they call up front pricing. They provide a free True Value Appraisal Tool for car owners looking to sell their vehicle. This tool allows sellers to tell what their car is worth up front by comparing the dealership trade-in, private party and dealer retail price estimates.
Another signature offer is Edmund’s Price Promise. This is a way for buyers to save money when vehicle-shopping. This tool makes it possible to lock in a price before going in to the dealership.
There are three steps to this process:
- Compare multiple offers from Edmund’s network of dealers
- Lock in savings of up to thousands off MSRP (Manufacturer’s Suggested Retail Price)
- Print and Bring printable certificate to the dealership
It goes like this:
- Find the exact car you want on Edmunds.com
- Compare Price Promise special offers from their network of dealers and lock in your best deal
- Get a dedicated dealer contact to help you make your purchase
Customers can print out the actual certificate, guaranteeing their savings and bring it with them to the dealership (sort of like a coupon for cars).
Regarding the above—mentioned tools:
For new car buyers, Edmunds offers the Compare Car tool, which informs them of each new car’s pros and cons –plus expert input on the car’s performance, comfort, function, fit and finish to help determine if that vehicle is the right fit.
The New Cars Price Quote is favorable because it allows customers to contact up to five dealers at once. Most car finder websites only offer three quotes.
Edmund’s True Market Value (TMV) helps customers figure out whether they should buy now or wait a month for prices to go down by predicting car trends for all car models every month. The TMV is automatically adjusted to include the options and colors customers select—plus current incentives.
Buyers seeking a car loan are also covered. Edmunds has an associate site called up2drive.ccom for auto loans. The site offers individual loans for new and used cars and even car loan refinancing at an Annual Percentage Rate (APR) of as low as 2.99% or higher. It is free to apply online, allowing approved applicants to write an expedited check directly to the car dealer or current lender.
Another tool Edmunds makes available is their payment calculator. In fact, they have calculators for a variety of functions related to buying a car.
Edmund’s Payment Calculator helps with:
- Monthly Loan Payment: estimates your payment for a car loan
- Monthly Lease Payment: estimates your payment for a car lease
- Pricing: finds the price range for a new car
- Low APR vs Cash Back
- Maintenance costs and recalls
- Gas Guzzler Trade In
As it has done since its inception, Edmunds.com continues to offer detailed information to car buyers, sharing lots of tips and advice articles on buying, selling or leasing used cars—this time entirely online.
Edmunds launched their app for iphone and ipad in 2010. Although reviews have been consistently positive with a 4-4.5 rating, one complaint is that the new version does not comply with ‘upside down’ screen rotation for picture viewing and will not view pictures in upside down orientation on the iPad. The app works correctly in upside down orientation until you click a picture and it forces a right side up viewing.
The Edmunds list of tools are highly favorable, with only a few factors deserving of constructive criticism:
- A phone number should not be a required a field when requesting car prices. It’s understandable why car dealers want contact information, but customers most likely would prefer to keep all negotiations over email than to get calls.
- Regarding the True Market Value Tool, Edmunds doesn’t show exactly how many car sales are included in the TMV® number or the time frame of car sales that are used in calculations.
- Customers can view price information based on their zip code, but cannot compare that to national price information. Compared to one of its major competitors, Truecar, TrueCar does a slightly better job with graphing prices and categorizing what should be considered a bad, good, or great deal.
One serious improvement should be to incorporate a free history report like ebay Motors does. Currently on Edmunds.com, the vehicle history report is not included. Edmunds just provides a direct link to the Carfax website where customers have to pay for a history report.
More constructive criticism:
- The Compare Cars tool can only be used for new Customers should be able to compare used vehicles as well with the ability to look at the differences between model years for a single make/model.
- The Edmunds True Cost to Own® value should offer an estimated residual value for each vehicle as well as a percentage of the purchase price since car prices will differ when comparing.
- It would be better for Edmunds to separate the “sponsored cars” feature from the Car Finder Feature. Currently, both are mixed in together, with “sponsored cars” blended in with the results of the Car Finder feature. It is possible to just ignore the sponsored cars, but it can be a little confusing. If, for example, a customer narrows their results to Toyotas the sponsored cars will still include a Chevy and a Nissan.
All in all, these are suggestions to improve an already solid service. Edmunds delivers on its promise to do what it sets out to do: help customers make the best informed decision when buying a car.
Company Name: Edmunds.Com, Inc. aka Edmund Publication Corp.
TIB: Business started: 01/01/1966. Edmunds. Com has been in business 49 years.
Online Features (10pt):
- Car search: year, base price, MPG, transmission, engine. Search by make/model/year/car type.
- New and Used Cars
- AutoCheck Vehicle History Report
- Compare Cars.
- Appraise your car and get a guaranteed cash offer through Auto Nation Direct.
- Incentives and rebates.
- Personal Credit Analyzer
- Deals of the Month
- Features: Blue Tooth, navigation system, sunroof, AWD/4WD, DVD player, exterior camera, heated seats, iPod input, keyless ignition, power trunk/lift gate, pre-collision safety system, satellite radio, seating greater than 5, side/curtain airbags, stability control, third row seat, traction control, trailer hitch, Xenon/HID lights.
- Resources, Reviews, and Ratings.
- Edmunds True Cost to Own® (TCO®) data reveals costs associated with buying, owning and operating a car over a five-year period.
- Car research: What’s hot, car reviews and road tests, tips and advice, long-term road tests, car videos, dealer ratings and reviews, and maintenance.
- Compare certified pre-owned programs from manufacturers
- Car selling tips: buying, leasing, financing, safety, insurance, warranty, fuel economy.
- Monthly payment calculator, get trade-in value, monthly lease payment calculator, what can I afford calculator: use to find price range for a new car. Low APR vs Cash Back Calculator: determine which one is best for you. Maintenance Costs and Recalls Calculator: calculate maintenance costs and get recall notices and technical service bulletins for your vehicle. Gas Guzzler Trade-In Calculator: find out how much money you will save if you trade in your gas guzzler for a fuel efficient car
Used Car Liquidation: Appraise your car and get a guaranteed cash offer through Auto Nation Direct.
Edmunds.com is a mobile-friendly site as tested on Google Developers’ Mobile Friendly Test: https://www.google.com/webmasters/tools/mobile-friendly/?url=Edmunds.com
Car Loan Education: car loan articles
The TCO page for each vehicle breaks information down into the following two sections.
- TCOSummarySection shows the results of the TCO calculations. It gives you two figures:
- The True Cost to Own figure. This is all of the ownership and operation costs for five years.
- The Total Cash Price for new cars is the sum of a vehicle’s True Market Value® (TMV®) price, along with typically equipped options, destination charge, base tax for the state and any applicable luxury or gas-guzzler taxes. For used vehicles, the total cash price shown is the sum of the vehicle’s private-party TMV price in “clean” condition, plus typically equipped options, and base tax and fees in your state.
- Five-Year Detailsgives a breakdown of how the vehicle’s expenses change over the five-year period. It shows the car’s depreciation. This would be important if, for example, there were a sudden drop-off in value after the third year. Knowing this, the owner could sell the car before the cliff and avoid the subsequent loss of its value.
The other parts of the breakdown show the typical expenses related to the purchase of this vehicle, including such things as fuel, insurance, maintenance and repairs. These are costs that people sometimes overlook when they’re buying a car.
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