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Barnett Bank Offers Low-Rate Auto Financing Through CarFinance.Com on the Internet

17 September 1997

Barnett Bank Offers Low-Rate Auto Financing Through CarFinance.Com on the Internet

        Web Site Provides Free Payment Quotes and Confidential, Secure
            On-Line Application for New and Used Vehicle Financing

    MELVILLE, N.Y. and JACKSONVILLE, Fla., Sept. 17 -- Barnett
Banks Inc. is expanding its on-line auto finance services through
Barnett's auto finance subsidiary, Oxford Resources Corp.  Barnett's
 CarFinance.com (http://www.carfinance.com), is the Internet's largest auto
lender, providing instant quotes and on-line credit applications for a variety
of new and used vehicle financing programs.  Consumers can easily secure low-
cost, pre-arranged financing for almost any new or used vehicle by accessing
CarFinance.com on the Internet.
    CarFinance.com simplifies the buying process and provides consumers direct
access to Barnett Bank, one of the nation's largest automotive lenders.
Consumers are able to easily view current loan rates or use instant quote
screens to compare various lease and loan programs for a specific vehicle.
The service allows shoppers to zero-in on financing for the exact car desired
without entering a dealership or disclosing their name.  When ready, the user
can simply complete the short application and once approved, usually within a
few hours, will receive an approval package which provides the same purchasing
power of a cash buyer.
    A consumer-friendly setting and low interest rates have made
CarFinance.com extremely popular with Web consumers.  Its 48 month, new car
loan at 7.80% APR, is 1.25% lower than the current national average as tracked
by Bank Rate Monitor.  This discounted rate will  produce a $452.85 savings
over the term on a $16,000 loan (rates may vary by term, credit and time of
approval).  For those who prefer leasing, competitive programs on popular
models such as the Honda Accord and Jeep Grand Cherokee offer some of the
lowest payments available.  All rates are published for consumers to shop and
compare anonymously, before deciding to apply.  CarFinance.com currently
offers auto financing in 29 states and will be expanding to a total of
44 states in the first quarter of 1998.
    Many find the CarFinance.com Web site by following links on related sites
throughout the Internet.  Strategic partnerships with other Web publishers
 such as Edmund's Automotive Buyer's Service ( http://www.edmunds.com ), CUC
 International ( http://www.autovantage.com and http://www.netmarket.com ), Bank Rate Monitor
 ( http://www.bankrate.com ), Intellichoice ( http://www.intellichoice.com ), Banx Quote
 ( http://www.banx.com ), Auto Town ( http://www.autotown.com ), Auto-by-Internet
 ( http://www.autobyinternet.com ), CarSmart ( http://www.carsmart.com ), LeaseSource
 ( http://www.leasesource.com ) and others, provide a linked connection to
CarFinance.com.
    Michael Pascucci, chairman of Oxford Resources, commented on the system,
"As an industry leader we have provided competitive lease and loan programs
for many years -- now through CarFinance.com, consumers can quickly view rates
and payments and apply on-line in a secure environment."

    Using CarFinance.com
     -- Go to the CarFinance.com Web site at http://www.CarFinance.com.
    -- Complete a simple, anonymous vehicle information form.
    -- Within seconds, receive payment quotes and details on a variety of
       leases and loans for the specified vehicle.
    -- When ready, fill-out the secure, short-form application or take an
       instant, anonymous affordability test before applying.
    -- You will receive a decision via e-mail within 48 business hours.
    -- When approved, a temporary Approval Certificate will be attached to the
       e-mail.
    -- The official Approval Package is sent via US Mail.
    -- The Approval Package and Certificate may be used to make a new or used
       vehicle purchase at any franchise auto dealer -- just like using a
       personal check.

SOURCE  Barnett Banks Inc.