Aug. 4, 2014


  • Good article...but most CU's still missing the point. That is, the car buying process has changed dramatically. People research online and are DIRECTED to specific dealers and FINANCING by major commercial auto research/shopping sites like, Kelly Blue Book and Edmunds. Without a full featured web car buying service, like the one mentioned in the article for BCU, credit unions will still be missing out on knowing a key factor in auto loan acquisition: when their members start their buying process.
    Keith Winn
  • From one who has difficulty with dealer pricing of residual products going into an indirect relationship is something I can't get comfortable with. I do appreciate the information on the national car buyer program and will dig into the further. The auto industry is extremely powerful - how else have they been able to offer zero financing, rebates, charge excessive amounts for gap and warranty and nary a hair has been touched. In my state the dealers have successfully prevented car buying services to operate. I used a car buying service in Texas to purchase a Honda and found that there was a $750 rebate off the price. The next car I purchased I checked and sure enough if I bought in Tx I would get the rebate so I used this info with the local dealer to get the rebate. I asked why they did not give the rebate and they had no answer. Financial institutions, mortgage lenders, utility companies and many others are regulated to death. Yes, the regulatory requirements and cost associated has caused some to simply throw in the towel.