CUDirect’s CUDL AutoSmart product is undergoing a version 3.0 redesign and update that will make it easier for credit union members to navigate, Jerry Neeman, executive vice president of CUDL Automotive, told Auto Finance News.
“It’s a work in progress right now,” Neeman said. “We’ve converted about 130 of the credit unions already, and we’re looking to get it done sometime in the second quarter.” About 1,000 credit unions use AutoSmart, a private-label tool that allows credit union members to research and shop for cars, as well as to apply for pre-approved auto loans.
“We’ve integrated the ability to pre-arrange their loan on the auto shopping resource site, and make both the lead of the car the member might be looking for, as well the preapproved loan, available for the dealer when the member gets there to purchase the car,” Neeman said. “In other words, the member can start the preapproval process and the dealer can finish it at the store without having to start from scratch.”
The upgrade will also offer a smoother user experience, he said, helping members navigate through the research, shopping, and finance phases. Neeman added that $22 billion of auto loans were originated through the CUDL platform in 2014.
