Internet Brands, an e-commerce and new media company with a growing automotive presence, has acquired subprime finance leader Auto Credit Express. The deal strengthens Internet Brands’ presence in the subprime automotive category and creates one of North America’s largest full-service subprime automotive solution providers, serving both consumers and automotive dealerships.
Auto Credit Express has connected credit-challenged consumers with automotive financing from dealerships and other lending partners since its founding in 1999. Beyond loan matching, the company offers dealerships advanced subprime training, propriety online tracking software, and an expert lead system.
“We’ve always admired Auto Credit Express’s commitment to unwavering business ethics and a top-notch customer experience – values that are shared by Internet Brands,” said Todd Dearborn, Vice President of Sales at Internet Brands’ Automotive division. “We look forward to developing innovative new ways to serve the large and growing subprime automotive market as we join forces.”
Auto Credit Express joins Internet Brands’ rapidly growing automotive division, which currently serves the subprime automotive market through its flagship CarsDirect business. In recent years, subprime loan matching has become a fast-growing business line for CarsDirect, complementing its award-winning new and used car lead products.
Let us know! How do you think think this acquisition will affect the subprime lending industry?