ONTARIO, Calif. — Auto lending network administrator CUDL has announced a new partnership with Kia Motors America to provide OEM discounts to the 20 million members of CUDL’s 700 credit union partners.
"We are very excited about our partnership with Kia Motors America and the new opportunities it will offer our credit unions, their members and our Kia dealers," said Jerry Neemann, CUDL’s executive vice president and CSO. "Our goal through this new partnership is to help our credit unions capture loans, offer members discount value on their next Kia purchase, and to provide our Kia dealerships with new customer opportunities to help grow their bottom lines."
The program will be rolled out in the states of Washington and Oregon, allowing CUDL credit union members in those two states the opportunity to take advantage of discounts being offered on all 2008 and 2009 new Kia vehicles. Credit union members purchasing a new Kia vehicle will receive either a $500 or $1,000 discount, depending on the model.
"This is a great opportunity for us to continue to build the Kia brand and provide additional financing options to new and existing customers as well as to our dealers," said Tom Loveless, vice president sales, KMA. "It also serves to help us strengthen our network of partnerships with various financial institutions and relationships with their members."
The initial discount program will run now through April 30, 2009, and will be offered to CUDL’s 71 credit unions and 22 partnering Kia dealerships in Washington and Oregon.
Executives from CUDL and KMA confirmed that the partnership includes expanding the discount program into other markets across the country, although a time table has not yet been finalized for additional rollout.