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Car Harmony Introduces First-Ever Self-Financing Tool for Car Buyers


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LOS ANGELES—Car Harmony, an online car shopping service, introduces the first-ever true self-financing tool. Customers looking to purchase a vehicle have full control of their auto finance opportunities with a few clicks of a button.

In partnership with Westlake Financial Services, Car Harmony’s new self-finance tool prequalifies customers to build their own financing on any car. After entering a few basic pieces of information, customers are presented financing options on every car in Car Harmony’s inventory for which they qualify. Customers can additionally see prequalified financing options on any vehicle desired, whether or not in Car Harmony’s inventory. The self-financing tool does not require a social security number, and it does not impact a customer’s credit score.

Once prequalified, customers are presented actual financing terms (subject to final verification) as opposed to estimates as they may be accustomed to seeing on other websites. Buyers can then adjust their down payment, monthly payment and contract term to receive real-time, updated financing options on every Car Harmony vehicle. Customers can also choose to add a service contract and a GAP waiver, and can see their financing terms adjust automatically. This ‘rehashing’ process often takes hours at traditional dealerships.

“To create an online, end-to-end car shopping experience, you have to provide online financing for the customer. At Car Harmony, we believe we have the first complete, online automotive purchase and finance solution in the marketplace,” says Craig Nehamen, Co-Founder of Car Harmony. “Placing financing into the customer’s hands changes everything. It allows customers to shop for cars that fit their financial comfort level, knowing their prequalification includes the actual sales tax and fees they’ll pay. There is no effect on the customer credit score, and there are no fees or tax-related surprises that pop up after you test drive a car.”

“At Car Harmony we continue to find new ways to provide innovative tools and technology to help customers purchase a vehicle,” added Ian Anderson, Co-Founder of Car Harmony. “The self-financing technology we built at Car Harmony is strong enough to be a stand-alone product, and we have plans to expand its breadth beyond CarHarmony.com.”

Through its partnership with Westlake Financial Services, Car Harmony offers prime rates as low as 2.49%, complemented by non-prime offerings for customers with FICO scores as low as 550 and even those with a prior repossession or other credit blemishes.

About Car Harmony

Car Harmony is an online car dealer serving the Los Angeles metro area since late 2015. Paperwork can be signed electronically from the customer’s desktop, tablet or smart phone. Car Harmony gives customers a commitment-free test drive, a free 3-day, 250-mile contract cancelation option and free shipping throughout California and neighboring states. Car Harmony is part of the Hankey Group. Co-Founders include Black Book Subprime Auto Finance Executive of the Year, Ian Anderson, and Northwestern Kellogg MBA graduate, Craig Nehamen.