GrooveCar Promotes Auto Loan Program at CUNA's GAC in Washington, D.C.
Hands-on demonstrations, one-on-one consultations and how to build your credit union's resource at booth #532
HAUPPAUGE, N.Y. - Feb. 16, 2017 - PRLog -- GrooveCar, the nation's leading auto buying resource for credit unions, will be exhibiting at CUNA's Governmental Affairs Conference (GAC) in Washington, D.C., February 26-March 2, 2017. The conference is CUNA's biggest event, bringing together thousands of credit unions, over 200 exhibitors and more than 5,000 additional attendees. "The GAC is a wonderful opportunity to reach credit unions from all over the U.S. who are looking at ways to grow auto loan portfolios. GrooveCar provides programs to penetrate the auto lending market that will help credit unions succeed at all levels," states Robert O'Hara, Vice President of Strategic Alliances, GrooveCar Inc.
GrooveCar will be showcasing its auto resource. Since launching the new platform, more than 100 credit unions, ranging in size from $5 million to over $5 billion, have partnered with GrooveCar. Credit unions recognize the need for a program that provides their members the tools they need to research, shop and secure a loan directly through the site. GrooveCar will be demonstrating how newly added enhancements, such as an auto loan refinance calculator, incentive lead generator, custom preferred dealer networks and free Carfax reports with lead generation, will increase auto loan activity for credit unions. The online car shopping resource helps credit unions achieve greater engagement with members, while capturing more auto loans using advanced features built into the platform.
With auto leasing soaring in popularity, GrooveCar's CU Xpress Lease will also be on display at GAC. The program provides credit unions with an auto lease program to strengthen their auto financing by becoming a full-service lender through leasing opportunities. In 2016, CU Xpress Lease funded nearly $1 billion in lease volume nationally. Credit unions will be able to learn how market conditions in many regions of the country are fueling this tremendous growth. CU Xpress Lease program assumes the risk and takes ownership of the residual, the wear and tear, excess mileage, termination fee and other fees. "As the leading lease program for credit unions in the U.S., we will be offering in depth reviews of how a leasing program would benefit auto loan programs during the show," explains O'Hara.
Auto lending hit historic levels with total vehicle sales in 2016 beating 2015's record breaking year. Credit unions looking for solid programs to capture the momentum behind their members' auto buying habits in 2017 will benefit from the platform's robust features. With online lead generation and marketing support services, credit union representatives will be able to "test-drive"
Founded in 1999, GrooveCar provides automotive loan growth solutions to credit unions nationwide while providing their members, as well as the general public, with the most informative and user-friendly auto search engine. With its expansive dealership network surpassing five million vehicles, GrooveCar facilitates the entire car buying process, including shopping, researching, buying, leasing, and financing. Through the national auto-leasing program CU Xpress Lease, credit unions can take advantage of leasing opportunities in the new and pre-owned vehicle market. CU Xpress is the leading credit union lease program in the nation. Additional information on GrooveCar or CU Xpress Lease may be found at http://www.groovecarinc.com.
Public Relations Director