LAS VEGAS — CUDL announced a new initiative with Manheim’s OVE.com (Online Vehicle Exchange) and GE Capital Fleet Services that will offer a new online vehicle buying program to CUDL’s dealer network. The initiative is slated to roll out the second quarter of 2012, according to CUDL. 

The new program will provide GE Capital Fleet Services with an upstream remarketing channel that includes bidding activity and incentives for buyers. At the same time, the program will provide CUDL’s dealer network the opportunity to bid in an online environment for selected GE Capital Fleet Services vehicles.

“Teaming with Manheim and GE Capital Fleet Services to offer this online vehicle buying opportunity adds an important component to our lending platform,” said Brent Hollingsworth, national director of strategic alliances at CUDL. “Through this unique program, our dealer partners will have access to premier used car inventory online with this simplified method for buying vehicles.”

CUDL’s national auto lending network includes 8,000 dealerships and 990 credit unions, serving more than 28 million members nationwide.

“Expanding our remarketing program to include an upstream channel with intense competitive bidding capabilities, extensive buyer exposure and buyer incentives makes a lot of sense for our diverse portfolio of vehicles,” said Paul Seger, vice president of asset remarketing for GE Capital Fleet Services. “It’s a win both for our customers and for our buyers.”

For more information, visit www.cudl.com