LendingTree Scores an Exclusive

  |  March 24, 2003   |  Comments

The loan origination site inks a pact with AutoTrader.com that makes it the sole integrated loan provider on the car sales site.

In a coup of sorts, online loan origination site LendingTree.com signed a deal that makes it the exclusive, integrated loan provider on AutoTrader.com, an auto classifieds marketplace.

Charlotte, N.C.-based LendingTree said that consumers who visit AutoTrader.com to research vehicles and search for cars online will be able to seamlessly access the LendingTree loan application technology at a co-branded page.

Customers who apply for a loan at the Atlanta-based AutoTrader.com site can receive multiple, competitive offers, usually within one business day, LendingTree said. Insurance quotes also are offered. Financial terms of the deal were not disclosed.

The deal "...provides a more seamless channel for our customers to finance their new vehicles," said Clark Wood, vice president of marketing and national accounts of AutoTrader.com, which sells both new and used vehicles.

AutoTrader.com is a majority-owned subsidiary of Manheim Auctions, an operator of wholesale auto auctions since 1945. Manheim Auctions itself is a subsidiary of media conglomerate Cox Enterprises.

LendingTree recently upped its financial guidance for the first quarter of 2003 to a profit of 14 cents per share, from 10 cents. The said it expects net income to come in at $4.1 million for the quarter, well above its prior projection of $2.7 million. Revenue is estimated at least $35 million for the period, topping a previous estimate of $33.2 million.

LendingTree cited strong growth throughout most of its business segments.


COMMENTSCommenting policy

comments powered by Disqus

ClickZ Today is our #1 newsletter.
Get a daily dose of digital marketing.



Featured White Papers

US Consumer Device Preference Report

US Consumer Device Preference Report
Traditionally desktops have shown to convert better than mobile devices however, 2015 might be a tipping point for mobile conversions! Download this report to find why mobile users are more important then ever.

E-Commerce Customer Lifecycle

E-Commerce Customer Lifecycle
Have you ever wondered what factors influence online spending or why shoppers abandon their cart? This data-rich infogram offers actionable insight into creating a more seamless online shopping experience across the multiple devices consumers are using.




  • SEO Specialist
    SEO Specialist (Marcel Digital) - ChicagoSearch Engine Optimization (SEO) Specialist   Marcel Digital is an award winning digital marketing...
  • SEO / SEM Manager
    SEO / SEM Manager (CustomInk) - FairfaxAre you a friendly, motivated, and inquisitive individual? Are you a positive, out-going leader? Are you...
  • SEO Analyst
    SEO Analyst (XO Group) - New YorkSEO Analyst @ XO Group About this Job, You and Our Team: The XO Group SEO Team is looking for you, a passionate...