Online auto lender RoadLoans.com has inked a deal to provide financing to buyers of new, used, and certified pre-owned vehicles on eBay Motors.
Shoppers on eBay Motors can fill out a short, secure application via RoadLoans, and receive a decision in “less than a minute,” a release stated. Consumers can then customize their loans, pick preferred loan-term lengths and down payment amounts, and secure pre-approval to finance or refinance existing auto loans.
EBay Motors customers will see a RoadLoans financing option on the vehicle listing page, and will be able to access the online application with one click.
Part of San Jose, Calif.-based eBay Inc., eBay Motors sells everyday vehicles, collector cars, motorcycles, parts and more. It has sold more than 4.5 million new and used vehicles.
RoadLoans.com is a division of Dallas-based Santander Consumer USA Inc., a provider of direct, indirect, and third-party originations and servicer of auto retail installment contracts. It serves nearly 13,000 dealerships in the U.S., and has a portfolio of about $21 billion.
That is great news! Any idea who at Ford is behind this? After years of cannibalizing their residuals with hefty incentives, subventions and fleet sales, it is great to see one of the Detroit three make a concerted effort to shore up residuals.