Cars.com and Creditland Bring Automobile Financing Information to Internet Car Shoppers
21 August 1999
Cars.com and Creditland Bring Automobile Financing Information to Internet Car Shoppers
Creditland Named as a Premier Sponsor of the cars.com E-Store
CHICAGO and SAN FRANCISCO, Aug. 20 -- Cars.com, and
Creditland announced today an agreement that names Creditland as the premier
automobile financing sponsor on the cars.com E-store, a new automotive
marketplace on the cars.com Web site. The agreement enhances the Internet car
shopping experience by seamlessly integrating the necessary tools and
information that consumers need to purchase a vehicle at a dealership.
As the premier automobile financing sponsor on the cars.com E-Store,
consumers will have a direct link to Creditland's free service offerings that
include rate and loan calculation tools, and rapid approval decisions to loan
applications.
"The car shopping and financing experience just got even easier thanks to
the partnership between Creditland and cars.com," said Tony Wilbert, CEO of
Creditland. "Not only do consumers get a fast and easy choice of auto loan
options, but they are empowered to make a truly educated car purchase."
The cars.com E-Store directly links to the Creditland auto loans page when
consumers click the Finance Now tab. Consumers can apply for the maximum auto
loan amount and submit it directly to Creditland for approval. Once approved,
a loan officer from one of Creditland's leading lending institutions will
provide a draft check, as well as discuss the details of the loan agreement.
To purchase a vehicle, a consumer simply selects a desired vehicle at a
local dealership and presents the check draft. Creditland also offers
person-to-person loans and the option to refinance existing auto loans.
"From initial car research to financing, this agreement with Creditland
enables cars.com to centralize all the vital information and processes needed
for consumers to purchase a vehicle," said Mitch Golub, general manager of
cars.com. "Now, consumers can go directly to dealerships with confidence
because they are pre-qualified to purchase the car of their choice. This is
an added benefit for dealers in the cars.com network because they are
assisting educated consumers who are ready to buy. It will allow our dealers
to move more new and used car inventory."
Additional financing information, such as loan calculators to estimate
monthly payments, current interest rates, articles on the financing process,
and advice from automotive experts, are available at the cars.com E-Store.
"This agreement with Creditland allows cars.com visitors to receive
information on one of the most influential factors in purchasing a car
-- affordability," said Mitch Golub, general manager of cars.com. "Consumers
can maximize their buying power by knowing what type of car is within their
price range and researching that vehicle on the cars.com Web site."
About cars.com
Cars.com, at http://www.cars.com , simplifies car shopping on the
Internet. Affiliated with more than 130 local newspapers, the e-commerce
publisher currently has inventory in 71 markets, including 25 of the top 30
markets in the United States. Cars.com, the only automotive web site to
provide daily updates of dealer inventories, allows consumers to search
vehicle listings by zip code, vehicle make, model and year. In addition to
vehicle pricing, cars.com provides consumers with trusted automotive
information, including rich editorial content pertaining to real life issues
such as how to purchase a vehicle and tips for parents of young drivers. The
site also provides consumers with tools such as an auto loan calculator, news
and reports on new and used vehicles, more than 3,500 independent automotive
reviews (1983-present), vehicle performance data, and vehicle recall
information. Cars.com is a division of Classified Ventures, based in Chicago,
Ill.
About Classified Ventures
Based in Chicago, Classified Ventures provides nationally branded online
services for the emerging e-commerce opportunities in the classified
advertising marketplace that build upon the capabilities and local expertise
of a national affiliate network. The company currently operates the
apartments web site Apartments.com, http://www.apartments.com, the auction web site
Auction Universe, http://www.auctionuniverse.com , the automotive web site cars.com,
http://www.cars.com, the moving information site MovingCenter, http://www.movingcenter.com ,
and the real estate web site NewHomeNetwork, http://www.newhomenetwork.com.
Classified Ventures will also launch HomeHunter(TM), a local resale real
estate service, in the second quarter of 1999.
Classified Ventures, Inc. was formed by eight leading media companies:
Central Newspapers, Inc.; Gannett Co.; Knight Ridder; The McClatchy Company;
The New York Times Company; The Times Mirror Company; Tribune Company and The
Washington Post Company. For more information on Classified Ventures, please
contact Mark Smith at 312-396-9718, mark_smith@pr21.com or visit the
Classified Ventures Web site at http://www.classifiedventures.com .
About Creditland
Creditland ( http://www.creditland.com ) is the Internet's first financial
super-store to offer consumers choice of the best financial products, from
trusted brands such as MBNA and Bank of America, in a fast and easy
comparison-shopping environment. Creditland provides a wide variety of
consumer credit -- including home loans, auto loans, personal loans and credit
cards -- and will offer consumers immediate online approval across all lending
categories in the coming months. The Company, which was founded by CEO Tony
Wilbert in February 1998 and is headquartered in San Francisco, empowers
consumers with the knowledge that they have found and compared the top credit
offerings to meet their needs.
CONTACT: Nevenka Todorovic of cars.com, 312-575-2700, ext. 2768, or
e-mail, ntodorovic@cars.com; or Tiffany Spence of Creditland, 415-474-6831, or
e-mail, Tiffspence@aol.com.