In a surprise move, USAA said Thursday it will discontinue its car-buying service and end its relationship with TrueCar Inc. effective Oct. 1. TrueCar Inc., based in Santa Monica, Calif., has maintained the website for USAA to assist its members in the car-buying process.

The USAA Car Buying Service is no longer available.

"USAA Federal Savings Bank has discontinued the Car Buying Service as part of an effort to simplify and streamline our business."

San Antonio-based USAA recently reported its first full loss for a year since 1923 and has laid off more employees.

The important thing here is that the USAA Car Buying Service will bring you a firm sale price without having to go through the negotiation process. If you like the offer, you take it. If not, you can use it as a starting point with a different dealer, or find a different car to buy.

Yes, USAA offers a new car discount, though the company does not disclose the amount of savings. To qualify for a USAA new vehicle discount, policyholders must insure a car that is not more than 3 years old.

USAA Federal Savings Bank's growth reverses amid recent regulatory tumult. USAA Federal Savings Bank's total assets shrank in 2022, ending a decadeslong streak of steady growth at the privately held company, which has been grappling with a series of regulatory challenges in recent years.

USAA disclosed the regulatory sanctions promptly. In a communication to its members in March 2022, USAA said the bank had been fined $140 million because “we did not sufficiently strengthen the capabilities and expertise necessary to meet … requirements” of the Bank Secrecy Act and anti-money laundering rules.

SAN ANTONIO – For the first time in over 100 years of operation, financial services giant USAA posted losses on its annual balance sheet. In an annual report published on Tuesday, the company, headquartered on San Antonio's Northwest Side, reported just over $36 billion in revenue in 2022, a 3% decline from last year.

Compared to other large insurers, USAA's average annual full coverage rates are cheaper than other companies. However, USAA sells policies only to active and former military members and their families.

The main difference will be how much you can negotiate off the retail price: New cars. It is considered reasonable to start by asking for 5% off the invoice price of a new car and negotiate from there. Depending on how the negotiation goes, you should end up paying between the invoice price and the sticker price.

If you don't qualify for USAA's rates, Geico auto insurance could be a good company for many drivers. The insurer offers the cheapest rates for many drivers, including young and poor credit drivers.