LendingTree Provides an Online Marketplace for Car Shoppers
CHARLOTTE, N.C., December 5, 2014 – LendingTree, the nation's leading online loan marketplace announced today that consumers can now shop over 2.5 million new and used cars online, in addition to searching for auto financing, through its marketplace services. The shopping site is located at autos.lendingtree.com.
"We view car shopping as a natural adjunct to car financing," said Doug Lebda, founder and CEO of LendingTree. "Since we already have a large flow of consumers seeking financing, letting them search actual dealer inventory in their geographic area is not only convenient, but also a great experience."
Through direct relationships with dealers and leading online aggregators, LendingTree's car shopping website represents the inventory of over 20,000 dealers nationwide. The site includes new and used auto inventory, helping consumers to find the car they are browsing for, or be more informed when they arrive at a dealer. When consumers find the car they're seeking, they may communicate with the dealer directly either via phone or by sending a quick request to the dealer for more additional information through the web site.
LendingTree provides content and advice on the car buying process with automotive industry reviews integrated into the search experience. Consumers can research and compare cars between local dealerships before going to a dealer showroom or speaking to a salesman. Additionally featured are calculators that help the consumer calculate their monthly payments for a specific car, using the consumer's financial information and inputs from the vehicle listing.
"While this car searching experience is already great, it is in an early Beta and we expect to continually advance the product," said Rick Finch, SVP and GM of LendingTree Autos. "We're signing up direct relationships with even more dealers, expanding search inventory, adding new features, and improving the depth of content. Furthermore, we anticipate this to be fully integrated into MyLendingTree, providing alerts and recommendations that will improve over time for consumers. Longer term, a consumer should be able to shop for any car from any dealer, value their trade-in, compare financing options and purchase that vehicle online."
About LendingTree, LLC
LendingTree, LLC is the nation's leading online loan marketplace, empowering consumers as they comparison-shop across a full suite of loan and credit-based offerings. LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan. Since inception, LendingTree has facilitated more than 32 million loan requests. LendingTree provides access to lenders offering home loans, home equity loans/lines of credit, personal loans, auto loans and more. LendingTree, LLC is a subsidiary of Tree.com, Inc. For more information go to www.lendingtree.com , dial 800-555-TREE, join our Facebook page and/or follow us on Twitter @LendingTree.