Auto Credit Express Acquires Auto Net Financial Web Sites

AUBURN HILLS, Mich., May 7, 2009 -- Auto Credit Express today announced the acquisition of AutoNetFinancial.com, a subprime lead generation web site formerly owned by Auto Net Financial Services, LLC of Traverse City, Michigan. The web site, which has been serving the subprime auto marketplace for 12 years, was a division of Kailua-Kona Investments, a Mark Hergert Company. The transaction will also include four additional domain names and other assets of the company.

"The acquisition of AutoNetFinancial.com solidifies our position as the top automotive subprime consumer brand in the United States," said Dave LaLonde, senior vice president of Auto Credit Express. "Having worked alongside and had an outstanding relationship with Mark Hergert, we are well aware of the brand recognition that Auto Net Financial brings to our company. Mark wanted to ensure that his hard work over the last 12 years was integrated with the right company and he found that with Auto Credit Express. This acquisition positions our company to emerge from the recession as a stronger company with a larger footprint in the subprime space."