PeopleFirst.com Selected as the Edmunds.com Lender of Choice; Partnership Offers Consumers Ultimate Financing Choice, Making Car Purchasing Process Easier, More Cost Effective
27 September 1999
PeopleFirst.com Selected as the Edmunds.com Lender of Choice; Partnership Offers Consumers Ultimate Financing Choice, Making Car Purchasing Process Easier, More Cost Effective
SAN DIEGO--Sept. 27, 1999--Online auto loan leader PeopleFirst.com (http://www.peoplefirst.com) today announced that it has entered into a marketing agreement with Edmunds.com (http://www.edmunds.com), the Web's leading third party automotive resource.PeopleFirst.com, provider of auto loans for new and used vehicles, including lease buyouts and the refinancing of existing auto loans, is now the exclusive provider of automotive financing options to visitors of the Edmunds.com Web site.
The partnership is timely as more than 40 percent of all new car and truck purchases and a third of all used car purchases have been influenced by the Internet, according to a recent study by J.D. Power & Associates.
PeopleFirst and Edmunds.com strive to provide information and services that empower consumers. PeopleFirst gives consumers the purchasing power of cash at an interest rate 1 to 1.5 points lower than the national average. Edmunds.com serves as a free, one-stop automotive information resource that provides comprehensive information important to individuals who own, or who are considering purchasing a new or used vehicle, including vehicle pricing information (MSRP and dealer invoice), Edmunds.com automotive reviews, comparisons between makes and models, long term road tests and an online community known as Town Hall.
"Before purchasing their vehicles, consumers are now using the Internet to arm themselves with vital car information from sites such as Edmunds.com," said Gary J. Miller, CEO and co-founder of PeopleFirst.com. "We have pioneered the concept of `blank check' auto lending so that consumers can now also shop for their vehicle as a cash buyer and complete their purchase very easily."
"Edmunds.com is concerned about one constituency -- consumers." said Peter Steinlauf, president and CEO, Edmunds.com. "Whenever we bring on a new partner they must share our commitment to providing an honest, straightforward and easy-to-use automotive product or service that will ultimately empower a consumer. PeopleFirst fits these criteria, and we are pleased to introduce them to Edmunds.com users."
About Edmunds.com
With headquarters in Los Angeles, Edmunds.com is the Internet's pioneer and leader in providing free, third party automotive information. Edmunds.com empowers, educates and engages visitors by respecting them and providing them with straightforward, truthful information on key aspects of buying, selling and owning a vehicle.
Users are provided automobile pricing data, extensive automobile reviews, consumer information, safety updates, incentive and rebate news, expert analysis of developments in the automotive world and the Town Hall, an interactive community of more than 250,000 participants. Edmunds.com has been honored as one of Yahoo! Internet Life's 50 Most Incredibly Useful Sites and among Entrepreneur Magazine's Top 100 Web Sites for Entrepreneurs.
About PeopleFirst.com
PeopleFirst.com is a privately held company located in San Diego. Founded in 1995, the company spent over 18 months internally building its customized Internet lending delivery systems and has been offering auto loans via the Internet since August 1997. The company was named one of the five "Best of the Web" financial innovators in 1998 by Online Banking Report, which cited PeopleFirst.com as the "pioneer of blank check auto lending."
The company presently offers auto loans in 39 states plus the District of Columbia with plans to expand to all 50 states as soon as possible.