myAutoloan.com research and financing choices empower consumers
New, one-stop web-based resource to level the playing field for the vehicle-buying public; provides Your Loan, Your Way financing options
Dallas, Texas -- January 28, 2004
Consumers now have a powerful new ally in their quest to gain real control over the researching, financing, buying and driving of vehicles with the introduction of myAutoloan.com. Until now, buyers wanting to get the best possible deal on the total cost of car or truck ownership typically had to spend significant time traveling from dealer to dealer, and bank to bank to identify their buying and financing options. Even Web-savvy consumers have been forced to visit multiple manufacturer, dealer, banking and finance company web sites to compile the information needed to make an intelligent decision. Even after completing this homework, buyers often found themselves redirected into a financing program that was not consistent with their original wants or needs. myAutoloan.com uses the Internet to eliminate the difficulties, inconvenience and stress of buying and financing a vehicle, delivering convenience, speed and integrity that streamlines the process and empowers car-buying consumers. According to Greg Thibodeau, chief executive officer at myAutoloan.com, the company gives consumers control over what frequently is a difficult and confusing process. "Historically, the auto-buying experience has been much like going into a casino, complete with all the sparkle and excitement," said Thibodeau. "While a car buyer might only purchase as few as a half-dozen cars or less over a lifetime, many of the people and organizations they encounter during the process may handle that many transactions in a day. As a result, the traditional research, finance, buy and drive process is stacked against the consumer. myAutoloan.com virtually levels the playing field for consumers, improving their overall experience." myAutoloan.com simplifies the process of identifying vehicle financing alternatives and securing both the commitment and terms of a lender before a buyer enters a dealership. In a single online visit to myAutoloan.com, typically lasting 10 minutes or less, consumers can receive offers from up to four reputable, national financing sources. As part of their agreement with myAutoloan.com, no lender will contact a buyer unless and until that buyer initiates a specific business relationship with one of the lenders, further enhancing the customer experience. Return offers from lenders generally are delivered to the consumer within an hour, as a result of the fully automated myAutoloan.com patent-pending Preferred Placement® process. Armed with pre-approved financing, as well as information such as vehicle pricing, trade-in values, safety and reliability data, consumers go to their franchised dealer of choice with the same level of empowerment as a cash buyer. myAutoloan.com's pre-approval enables consumers to make the best possible deals for new or used vehicles. Because a loan secured through myAutoloan.com is pre-approved, the interest rate, time period and terms of the loan are set according to the buyer's preferences, not based on what others in the process may want. Unlike other means of vehicle financing, myAutoloan.com is designed to support consumers with a wide variety of vehicle needs and credit histories, from super- to sub-prime. With myAutoloan.com, consumers of more modest means are empowered in a financing world that historically has only generally served the needs of the most credit-worthy individuals. Consumer choice and control, pre-approval and highly competitive pricing are a few of the reasons why consumers are expected to be drawn to myAutoloan.com throughout the entire vehicle purchase and ownership life cycle. However, according to myAutoloan.com president Dale L. Peterson, the company's initial focus is on the financing aspects of this lifecycle. "We've chosen the financing component as the first area of emphasis for myAutoloan.com because it's the area that generally has the greatest impact on total cost of ownership," said Peterson. "However, our web site provides access to a wide range of tools for researching, buying and driving vehicles, from electronic access to Kelley Blue Book and crash test results from the National Highway Traffic Safety Administration to an online auto-buying service, insurance quotations and aftermarket parts. myAutoloan.com truly is a one-stop shop for the total vehicle ownership lifecycle." About myAutoloan.com myAutoloan.com is the user-friendly, customer focused service designed to empower consumers with trustworthy and complete information surrounding the researching, financing, buying and driving experience, providing knowledge-based content, products and services in a convenient, fast and easy online community. The company's patent-pending Preferred Placement® process transforms vehicle shoppers into cash-equipped, empowered buyers, providing vehicle financing in a unique "Your Loan, Your Way" manner. An early investor in myAutoloan.com is Dallas-based Andara Digital (www.andaradigital.com), a recognized provider of strategic Internet services, with client experience ranging from JCPenney and Pizza Hut to CenturyTel and American Management Corporation.
Editor Note: Formal and legal name of the company is myAutoloan.com; all appearances of this name should lead with a lower-case 'm'