OpenAuto.com, Inc. (www.openauto.com) today announced that eCarCredit.com has chosen OpenXchange(SM) as its inventory fulfillment solution.
Through a license agreement to its OpenXchange service, OpenAuto will provide eCarCredit.com with access to the first national, online database of immediately available new car inventory and its associated dealer pricing.
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eCarCredit.com, which launched its Web site earlier this month, is a company that specializes in sales and lending to sub-prime consumers. The company’s personal, consultative sales approach targets car buyers for whom trying to purchase an auto and obtain financing is particularly stressful and often unsuccessful. With access to priced, new car inventory, eCarCredit’s customer service staff can quickly identify and locate a selection of vehicles to present back to their customers based on financing profile.
“By providing the back-end inventory fulfillment solution, OpenAuto reduced our development cycle substantially, saving us valuable time and capital,” said Steve Maxey, eCarCredit.com’s CEO. “We were able to focus our resources on factors that differentiate eCarCredit from other online dealers, including our proprietary sales process, and exclusive lending sources.”
“OpenXchange is a perfect match for automotive e-commerce companies such as eCarCredit.com because it’s cost effective, scalable, and frees them to focus on building their brand and improving their consumers’ experience,” said John Truchard, OpenAuto’s CEO and president.
OpenAuto’s OpenXchange includes inventory-supplying car dealer participants and demand-generating e-commerce clients. On the supply side, OpenAuto currently has participation agreements from more than 6,000 franchise dealers, which represent 25-30 percent of all franchise dealers in the top 25 U.S. markets. The OpenXchange database already contains more than 200,000 cars and trucks. OpenAuto expects to announce within the next few weeks additional automotive e-commerce clients.
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By GlobalDataAbout eCarCredit.com
Headquartered in Colorado, eCarCredit.com was founded on the belief that it could provide an unparalleled buying experience to people who, because of past credit problems, have experienced difficulty obtaining financing for automobiles. The first Internet company to specialize in helping consumers with less than perfect credit, eCarCredit.com has assembled a team of professionals who possess a unique combination of automotive experience and knowledge of lending practices. With the sole purpose to be the best choice for consumers purchasing a new car and beginning to rebuild their credit, eCarCredit.com has partnered with some of the nation’s largest and most respected lending institutions. The company’s large volume of loans coupled with the fact that dealers compete to sell eCarCredit.com cars allows the company to offer new cars to people at competitive prices and favorable financing.
About OpenAuto
OpenAuto is the first business-to-business automotive e-commerce company to offer services that streamline online car sales for automotive e-commerce companies and brick-and-mortar dealers. Its core service, OpenXchange(SM), gives automotive e-commerce companies access to a national database of immediately available, priced new car inventory which automates the task of locating dealer inventory to fulfill online consumer demand. OpenAuto’s suite of services enables automotive e-commerce companies to focus on consumer experience and brand building; accelerates speed to market for emerging automotive e-commerce companies; and enables brick-and-mortar dealers to offer on their own Web sites the same sophisticated functionality as established online car buying services. Founded in March 1999, OpenAuto is a venture-backed company based in the San Francisco Bay Area. For more information, please visit www.openauto.com, or call 925/974-8700.
