CUDL, OVE.com, GE Capital Fleet Services Launch Online Buying Network
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.
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
More Auto Finance
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Cars a Tad More Affordable
May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
Read More →
First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Auto Lenders, Consumers on a Tightrope
April borrowing data shows that more consumers are bending over backward to buy vehicles, though subprime lending cooled off for the month.
Read More →
Toyota Financial Services President Replaced
Scott Cooke has served in various roles with Toyota Financial Services for over 20 years, including president and CEO, which he retires from on June 30.
Read More →