DealerCentric, LendingTree Join Forces to Enable Consumers in Online Financing and Car Purchases at Local Dealerships
DealerCentric(TM), LLC (www.dealercentric.com), an Atlanta-based automotive e-solutions company, has announced an agreement
with LendingTree, Inc., an online loan marketplace and loan exchange technology provider. The agreement is designed to direct approved loan applicants to member auto dealerships.
The two companies have joined forces to streamline the car purchase process for consumers who have submitted car loan requests at www.lendingtree.com by providing those consumers with the option to select a local DealerCentric member dealership that has the vehicle that the consumer has specified. The LendingTree/DealerCentric joint venture will
be rolled out Jan. 8, 2001 in the states of California, Florida, and Georgia.
"DealerCentric's Portal-to-Dealer (P2D) technology will make the transfer happen automatically," according to Roger Hilterbrandt, CEO/President of DealerCentric. "Our process will take the consumer from online financing straight through to vehicle purchase, including post-purchase follow-up."
At the LendingTree marketplace, banks compete for customers' business and the customer can receive, compare and choose between multiple loan offers within one business day after they have submitted their loan request online.
Through the DealerCentric/LendingTree relationship, consumers who have received and chosen the best car loan offer for them at www.LendingTree.com will be directed to a member dealership in their area that has the vehicle for which they've requested financing. At the same time, that dealership will be
automatically notified of the prospective customer so that a sales person can contact the consumer as soon as possible.
"By partnering with DealerCentric, we are able to offer consumers a smoother car buying process," said Doug Lebda, CEO of LendingTree. "Our alliance with DealerCentric is an extension of our commitment to provide the
best financing and purchasing services available online today," he said.
DealerCentric will have a minimum of 100 dealers in the DealerCentric network at the time of rollout, according to Hilterbrandt. "Once the LendingTree/DealerCentric link is up and running in those states, we will expand the offering throughout the country," he said.
"Until now, the dealer has often been left out of the online car buying experience as automotive portals have fiercely tried to steer Internet automotive buyers away from the local dealers. We're about to change all
that," said Hilterbrandt. "By working with LendingTree, we are going to help consumers obtain financing online yet buy locally from dealers they know and trust. Plus, we're going to send the dealer leads from people who know what they want and who are ready and able to
buy."
About DealerCentric
DealerCentric is a business-to-business (B2B)/ Application Service Provider (ASP) that designs technologies and services to bring e-business to
the automotive dealership. Based in Atlanta, Ga., the company was founded in August 2000.
Leading DealerCentric is a team of executives with years of experience marketing products to automotive dealers as well as to the financial and insurance industries. The company's solutions include Portal-to-Dealer, which provides local dealers with funded and non-funded Internet leads; Dealer Direct, which enables dealer Websites with credit scoring,
financing, inventory, purchasing and leasing options; and Dealer Connect, which provides innovative networking and connectivity solutions for single and multi-location dealerships. To learn more about DealerCentric, visit www.dealercentric.com or call 770-300-0950.
About LendingTree, Inc.
LendingTree is an online loan marketplace and loan exchange technology provider. LendingTree's loan technology, Lend-X, powers the online loan marketplace at LendingTree.com, as well as the online lending resources of other institutions. At LendingTree.com qualified consumers may receive multiple loan offers, within one business day, in response to a single loan request.
For more information, or for a full listing of the more than 100 banks and lenders in the LendingTree marketplace visit www.lendingtree.com or call 704-541-5351.
About Lend-X(SM)
Lend-X(SM) is LendingTree's online loan exchange technology that enables companies to embed a customized, co-branded loan
marketplace into their site. Lend-X(SM) technology supports different business models, ranging from single-lender environment to
multi-lender marketplaces.
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