Amazon announced it is taking another step forward into the used vehicle sales space this week, with the addition of lenders Chase, Santander and Wells Fargo.
Consumers will be able to submit a credit application, receive finance offers and select financing from the Amazon Autos site while shopping for used vehicles.
“At Amazon, we’re always looking for ways to give customers more information and options when making important purchases,” said Britt Gannon, Vice President of Advertising and Automotive at Amazon in the press release about the announcement. “By welcoming Chase, Santander, and Wells Fargo to Amazon Autos, we’re helping customers evaluate and select the financing that works best for them, while optimizing the process for dealerships who already know and trust these lenders.”
Amazon announced in August that it was adding used and certified pre-owned vehicles to its site. Vehicles listed on the Amazon site include a 3-day/300-mile return policy and a minimum 30-day/1,000 limited warranty. The vehicles must also be within 75 miles of the customer.
Hertz followed with the announcement it would be putting used inventory on the Amazon site.
After receiving an approved loan application from one of the three lenders partnering with Amazon, customers will receive details on APR, term, monthly payment and total interest costs to compare. Shoppers will be able to complete the paperwork online to complete the financing and schedule the vehicle pickup with a dealer.
