Greenlight.com, the exclusive new-car partner of Amazon.com, today announced strategic partnerships with three of the largest automotive financing companies: The Chase Manhattan Bank (NYSE: CMB), E-LOAN (Nasdaq: EELN) and AmeriCredit (NYSE: ACF). Through these partnerships, Greenlight.com will provide its customers with multiple options to conveniently obtain financing when buying a new car online.
By providing consumers with access to the most reputable lenders in the country, these partnerships address two major concerns of car-buying customers:
1) Getting a great price on the exact vehicle they want and
2) Financing the new vehicle with affordable payments.
"Consumers deserve a stress-free car-buying experience -- from test drive to pricing to financing -- and that's what we offer," said Joel Manby, president of Greenlight.com. "By partnering with Chase, E-LOAN and AmeriCredit, we provide our customers with an option to obtain financing from the most trusted and competitive sources available."
"At Chase, we believe that developing strategic agreements with best-in-class companies such as Greenlight.com is an effective way to enhance our leadership position in automotive finance and in financing vehicles over the Internet," said Tony Langan, senior vice president at Chase Auto Finance. "Greenlight.com is equally dedicated to customer service and to building lasting customer and dealer relationships, and the simplified car-buying experience that Greenlight.com offers reinforces Chase's brand promise to make our customers' lives easier."
Greenlight.com improves the car-buying process for consumers by giving consumers low, upfront pricing, the ability to get the exact car they want, a dedicated live account manager, great financing options and support from Greenlight's network of local dealers. By working closely with local dealerships, Greenlight.com also offers its customers service on their new vehicle.
"We are pleased to be included with Chase and E-Loan as a strategic partner with Greenlight.com," stated Michael R. Barrington, president of AmeriCredit. "Our investments in technology allow us to provide fast credit decisions and same-day loan funding which are essential for online lending. And Greenlight.com's strategy of working with the most customer service-oriented dealers across the country complements AmeriCredit's history of providing exemplary service to dealerships."
As a result of these partnerships, consumers can take control of their car buying experience. Greenlight.com customers can now apply for a loan online or over the phone at any time -- in less than 15 minutes. By financing the new vehicle online with one of Greenlight.com's preferred online financing partners, customers are able to confirm their monthly payments prior to finalizing their purchase. Greenlight.com will also continue to arrange financing through its partner dealerships.
Greenlight.com is currently available to consumers in 24 major markets across the U.S., including Atlanta, Chicago, Los Angeles, New York City and San Francisco. Greenlight.com continues to build its network by recruiting the most Internet-savvy, customer service-oriented dealers across the United States.
The Chase Manhattan Corporation is a premier global financial services firm with assets in excess of $390 billion. Chase combines the best of commercial and investment banking, offers world-class information and transaction processing services, and has a leading U.S. consumer franchise that serves 30 million customers. Through its newly formed business unit Chase.com, Chase is successfully creating innovative business models for the New Economy. Chase, with offices in more than 45 countries, has a presence in all of the principal financial centers around the world. Chase can be reached on the web at www.chase.com .
E-LOAN, Inc., a leading online lending company, offers consumer loans and debt management services at www.eloan.com . E-LOAN has reinvented the consumer loan process by offering a broad choice of products from many lenders for mortgages, home equity loans, auto loans, credit cards and small business loans in a secure online environment, combined with comprehensive personal service from dedicated loan consultants. E-LOAN's customers enjoy substantial savings and strong privacy safeguards. In 1999, E-LOAN closed over $1.5 billion in consumer loans. The company's loan processing centers are located in Dublin, CA and Jacksonville, FL. E-LOAN, Inc. is publicly traded on the Nasdaq system under the symbol EELN.
AmeriCredit Corp. is a leading independent consumer finance company specializing in purchasing and servicing automobile loans. AmeriCredit is the largest originator of auto loans to consumers who are typically unable to obtain financing from traditional sources. Visit www.americredit.com for more information on the Company.
Greenlight.com was founded in 1999 to bring to new car buying the same convenience, confidence and simplicity that online shopping has brought to other consumer goods. Greenlight.com has developed a true click and mortar model -- combining an online buying experience with the nation's strongest network of local dealers. Greenlight.com simplifies the buying process by giving consumers low, upfront pricing, the ability to get the exact car they want, a dedicated live account manager, great financing options and support from Greenlight's network of local dealers where and when it is needed.
Greenlight.com is backed by Kleiner Perkins Caufield & Byers, a leading Silicon Valley venture capital firm, and Asbury Automotive, an automotive retail industry leader. Greenlight.com has also received a strategic investment from Amazon.com (Nasdaq: AMZN) and is Amazon.com's exclusive partner in the new car market. To shop for a car or to get more information about Greenlight.com, visit the company on the web at www.greenlight.com .