CarsDirect.com Achieves Lending Milestone: $100 Million in Auto Loans and Leases in 10 Months.Business Editors & Automotive Writers LOS ANGELES--(BUSINESS WIRE)--Nov. 28, 2000 Expanded Financing Options Provide Solid Revenue Stream, Affirm Company's Growth Strategies CarsDirect.com, a leading direct online automotive provider, today announced it has funded more than $100 million in loans and leases since January 1, 2000, through its financing arm, CD1 Financial. The milestone provides the latest indication of CarsDirect.com's success in bringing car buyers online and underscores the company's drive to strong, sustainable growth. Building on its successful alliance with Bank One, CarsDirect.com recently added four additional premier lenders to its consortium, including AmeriCredit, Chase Manhattan, Union Bank of California Union Bank of California is one of the 30 largest commercial banks in the United States. It has 327 branches, the majority of which are in San Diego, Los Angeles and Orange Counties. and WFS WFS Wegfahrsperre (German: drive away blocking system) WFS Web Feature Service WFS World Future Society WFS World Food Summit WFS Wave Front Sensor WFS Wolfram Syndrome WFS Wire Feed Speed (welding) Financial. The combination of these loan and lease partners provides accelerated growth in lending while enhancing the CarsDirect.com customer experience. "We are committed to providing our customers with innovative, valuable options and services while enhancing the company's strength. Clearly, auto financing has continued to develop as a solid, supplemental revenue stream for CarsDirect.com," said Gene Schutt, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CarsDirect.com's CD1 Financial.com unit. "As we continue to meet our goals for increasing penetration of our auto financing products, consumers are the true beneficiaries, gaining access to an unprecedented number of options for financing or leasing vehicles online. The milestone we're announcing today is proof we remain on the leading edge as a one-stop shop One-Stop Shop A company or a location that offers a multitude of services to a client or a customer. The idea is to provide convenient and efficient service and also to create the opportunity for the company to sell more products to clients and customers. for car buying -- and we've made financing a car as convenient as shopping for it." CarsDirect.com is continuously looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. ways to streamline the purchasing and financing process for car and truck buyers. In addition to forming the multi-lender service, which provides customers with a greater level of financing options, the company recently announced an alliance with Fair, Isaac(R) (NYSE NYSE See: New York Stock Exchange :FIC FIC First International Computer FIC Fogarty International Center (John E. Fogarty International Center for Advanced Study in the Health Sciences; National Institutes of Health) FIC Fellowship for Intentional Community ), a global provider of customer analytics and decision technology, to develop a breakthrough decisioning engine for instant pre-approval and choice of multiple loan or lease offers. After completing a free, easy-to-use online credit application, CarsDirect.com customers will be able to select from matching financing programs and then obtain final approval in as little as 45 seconds. About CarsDirect.com CarsDirect.com (http://www.carsdirect.com) is a leading direct online provider of new automobiles and related products and services, such as loan and lease financing and extended warranties The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . CarsDirect.com allows consumers to research, price, configure, order, purchase and finance a vehicle online. The company's user-friendly, intuitive Web site offers consumers product information for nearly every make, model and style of new automobile available in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. today, as well as the ability to simultaneously compare the specifications of competing vehicles. CarsDirect.com offers an online shopping experience that features competitive, up-front, no-haggle pricing on new vehicles. The company sources vehicles through a priority dealer network of more than 2,500 automotive dealer franchises nationwide. |
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