Latest Online Edition Read Here

UCN Interview with Derek Hansen Vice President of Digital Inventory Solutions, ‎Cox Automotive Inc.

Carvana Partners with Credit Union

Carvana Partners with Credit Union Featured

Carvana has partnered with LGE Community Credit Union. Through the partnership, LGE members can browse Carvana's online inventory of vehicles and purchase a car and have it delivered to them as soon as the next day, all from their homes.    LGE Community Credit Union members can visit any of the credit union's nine full-service locations in Georgia to speak with a loan officer about becoming pre-approved for a Carvana vehicle or can consult with a loan officer via phone, email or through an online application. Following approval, members can complete their vehicle search and purchasing process entirely online with Carvana.The LGE partnership is one of 13 credit unions Carvana works with across the country.
Last modified on Monday, 19 December 2016 23:40
Rate this item
(0 votes)

Related items

  • Wells Fargo Results Show Credit Tightening
    Wells Fargo & Co. showed the effect of auto finance tightening in its fourth quarter earnings results.
The bank reported automobile originations of $4.3 billion in fourth quarter. This was flat compared with the third quarter, and down 33 percent from the fourth quarter of 2016.
Wells Fargo also reported lower losses on automobile financing.
  • Report Claims Dealers Discriminate in Auto Finance
    A recent study claiming racial discrimination in auto sales is getting plenty of national attention. The report, "Discrimination When Buying a Car: How The Color of Your Skin Can Affect Your Car-Shopping Experience,” was the basis for pieces on the national news broadcasts from CBS and NBC, among others. The report comes from the National Fair Housing Alliance (NFHA). According to its mission statement, the NFHA is “dedicated solely to ending discrimination in housing.” The NFHA said it recently conducted an investigation of eight franchise dealerships in eastern Virginia. The investigation used standard paired testing methodology. Within each paired test, one white tester and one non-white tester visited a car dealership to obtain purchase and financing information for the same car. In each case, the NFHA says the non-white tester was more creditworthy than the white tester. The investigation found that testers of all races had difficulty obtaining concrete and transparent information regarding car pricing, interest rates, and finance options for which they qualified. However, the NFHA says non-white testers often received more costly pricing options than their white counterparts for the exact same vehicle. The FHA claims dealers helped white testers by offering rebates or helping to bring down interest rates more often than they did for non-white testers. Non-white testers were presented with higher-cost financing options 62.5 percent of the time, even though they were better qualified than their white counterparts. White testers were offered more financing options 75 percent of the time. On average, non-white testers would have paid an average of $2,662.56 more over the life of the loan than less-qualified white testers the study claims.  
  • Auto Originations Rise
    Auto finance originations were up 6 percent year-over-year in 2017, according to Experian.The credit agency’s annual State Credit report also finds the nation's average credit score is up two points to 675 - from 673 last year - and is just four points away from the 2007 average of 679. Generation Y/Millennials are doing well managing their credit and continue to see their scores climb - four points over the past year. They have also decreased their overall average debt by eight percent and have increased their mortgage debt by an additional six percent, which is a positive sign for this generation. Generation X has an average credit score of 658 along with the highest mortgage debt of all generations, as well as a high instance of late payments compared to the national average. Baby Boomers continue to carry quite a bit of debt, specifically mortgage debt. They have the lowest late payment instances of all the generations. As the oldest generation, the Silent Generation still has a lot of mortgage debt, but members are keeping other debts low and making payments on time. They have the best credit score of all generations with a score of (729), as well as the fewest late payments.

 

Auctions Across America Fall 2017

 

 

 

 

 

Carvana More Than Doubles in Size


Carvana More Than Doubles in Size


Carvana Co. has grown its Texas presence to five markets by launching operations in Corpus Christi.
Corpus Christi is the company’s 44th market overall. This is Carvana’s last market launch...

Dealers Use In-House CRM to Drive Sales

Dealers Use In-House CRM to Drive Sales

Robert Beck, president, Stop ‘N Drive Motors, San Antonio, Texas: “We have one location and we opened up in 2005. “We usually stock about 40 to 50 cars. We have...

  • CarMax Moves into New Market
    CarMax Moves into New Market CarMax Inc. celebrated the grand opening of its first store in Michigan, located in Kentwood at 4431 28th Street. The Kentwood store will have the capacity to stock approximately 200…
  • DMS Incorporates Carfax
    DMS Incorporates Carfax Auto/Mate Dealership Systems has integrated its dealership management system with myCarfax Service Shop tools to help their dealer customers increase the success of their fixed operations. This enhancement makes it…
  • CarMax Opens Store in Northeast
    CarMax Opens Store in Northeast CarMax Inc. celebrated the grand opening of its new store in Albany, N.Y.The store is located at 1860 Central Ave. The Albany CarMax has the capacity to stock approximately 200…
  • CarMax Grows in California
    CarMax Grows in California CarMax Inc. is currently hiring more than 40 associates for the company's third store in the Bay Area of California. The store, scheduled to open in November, will be located…
  • CarMax Reports Higher Sales, Revenue
    CarMax Reports Higher Sales, Revenue CarMax Inc. reported higher sales and revenue for the second quarter ended Aug. 31. Net sales and operating revenues increased 2.9 percent to $4 billion. Used unit sales in comparable…
  • TV Host Takes Cheap Shot at Dealers
    TV Host Takes Cheap Shot at Dealers The latest attack on subprime automobile dealers came in the form of HBO’s satirical news/comedy show “Last Week Tonight with John Oliver” on Aug. 14. The 17–minute segment slammed the…

    Auto Lending: Last Week Tonight with John Oliver (HBO)
  • Carvana Moves into Midwest
    Carvana Moves into Midwest Carvana announced its expansion into Columbus, Ohio. This launch marks the company’s first market in the Midwest region and first in the state of Ohio. Columbus marks Carvana’s seventh new…
  • Carvana Partners with Credit Union
    Carvana Partners with Credit Union Carvana has partnered with LGE Community Credit Union. Through the partnership, LGE members can browse Carvana's online inventory of vehicles and purchase a car and have it delivered to them…
  • Dealers Use In-House CRM to Drive Sales
    Dealers Use In-House CRM to Drive Sales Robert Beck, president, Stop ‘N Drive Motors, San Antonio, Texas: “We have one location and we opened up in 2005. “We usually stock about 40 to 50 cars. We have…
  • America’s Car-Mart Moves Fewer Units
    America’s Car-Mart Moves Fewer Units America’s Car-Mart Inc. reported net income of $7.1 million in the quarter ended July 31.The buy-here, pay-here chain reported revenues of $146 million compared to $143 million for the prior…