Michigan First Credit Union Launches Car Purchasing Website
Michigan First Credit Union today announced the launch of its "Member Showroom," a full service Website that allows consumers to complete the entire car purchasing process.
Michigan First Credit Union today announced the launch of its "Member Showroom," a full service Website that allows consumers to complete the entire car purchasing process.
This online research and purchase tool is powered by Zag, a TrueCar Inc. company and provider of private-label online and mobile car-buying programs. Michigan First is the first credit union to partner with Zag in the launch of a co-branded Member Showroom website.
"The Michigan First Member Showroom provides shoppers with a convenient alternative to the conventional car-buying process. Consumers can research, finance and purchase a car without making multiple trips to dealerships and financial institutions," said Linda Douglas, vice president of marketing for Michigan First Credit Union.
The Michigan First Member Showroom offers shoppers a broad selection of new and used cars, a low price guarantee, competitive loan rates and flexible terms. With competitive, upfront pricing, car buyers using the Zag platform have saved on average $4,302 off the MSRP on new vehicles, according to the company. The low price guarantee means that if the purchaser finds the same vehicle with identical features and options at a lower price within three days of purchasing from the auto buying service, Zag will refund the difference. Michigan First is offering a one percent loan rate discount for those who have qualified for a loan and purchase a vehicle through the Member Showroom by May 9. Michigan First will also offer insurance purchasing services through the Member Showroom in the near future.
"Car shoppers will find that Michigan First's Member Showroom is simple and easy to use, making the process of purchasing a new vehicle worry-free, transparent and convenient," said Stewart Easterby, GM of Zag.
Member Showroom is the latest in a series of new technology and service offerings from Michigan First Credit Union, including the recent launch of mobile banking with Michigan First Mobile. For more information on Michigan First's Member Showroom, visit www.MichiganFirstCars.com.
More Auto Finance
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
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 →