Autobytel.com Announces New Consumer-Centric Auto Financing Solution Via Alliance with LendingTree and CMSI
Autobytel.com's Financing Resource to Empower Consumers with Quick and Easy Access to Multiple Competitive Loan Offers
IRVINE, Calif., July 20 /PRNewswire/ -- Autobytel.com (Nasdaq: ABTL - news), the global leader in automotive e-commerce sales and services, will launch a powerful new online, real-time financial service in August that will put consumers in control of the auto financing process. Autobytel.com is partnering with LendingTree (www.lendingtree.com), the leading online loan marketplace and CMSI (Nasdaq: CMSS - news), a premier online credit automation company, to provide consumers with easy and instant online access to the most competitive financing options available.
The new financing resource will be fully integrated into the Autobytel.com site and is free of charge to consumers. The program will be available both to consumers who have submitted a purchase request for a vehicle through Autobytel.com and to those who are shopping for improved financing for their current vehicle.
''Autobytel.com provides consumer-centric solutions for every aspect of the car buying and ownership lifecycle and, historically, was the first car-buying program to offer online automotive financing,'' said Mark Lorimer, President and CEO of autobytel.com inc. ''Now, Autobytel.com empowers car buyers with even more choice and convenience in the financing process through LendingTree and CMSI. What once took weeks to accomplish offline, can be completed in just minutes through Autobytel.com.
''This program, combined with our highly competitive insurance program, and recent service and maintenance initiatives, helps ensure that consumers remain satisfied customers of Autobytel.com for as long as they own or drive a car,'' concluded Lorimer.
At the Autobytel.com website (www.autobytel.com), consumers can submit requests for new or used auto loans or leases, and receive multiple offers from a network of lenders. To apply, consumers fill out one simple loan qualification form and are assigned a secure, unique user I.D. number. They are then matched with auto lenders within the network who can best serve their needs. Consumers can receive decisions in real-time, via e-mail, with up to four competitive offers, providing them with the opportunity to comparison shop at their convenience and select the one with the most favorable terms.
''LendingTree offers consumers the unique opportunity to have lenders compete for their business,'' remarked Doug Lebda, founder and CEO of LendingTree. ''Our alliance with Autobytel.com gives consumers a one-stop shopping experience for auto selection and financing. Autobytel.com not only is No. 1 in customer confidence, but they generate more car sales online than anyone else. Our increased exposure to these consumers will prove to be a tremendous boon to the lenders on our Network.''
''Our goal is to provide lenders in the auto space with the technology that enables them to reduce loan origination costs by streamlining the loan application and approval process,'' stated Peter Leger, President and CEO of CMSI. ''Having a presence on Autobytel.com, the No. 1 brand among online car-buying services, provides our lenders with an increased applicant pool, which increases the likelihood of a greater number of closed loans.''
The alliance among Autobytel.com, LendingTree and CMSI is subject to finalization of a definitive agreement. |
