CarsDirect Buys Financing Unit

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CarsDirect has acquired 1-800 Communications, a provider of special finance auto leads to dealers.


The purchase represents an effort to expand its loan options for people with bad credit, the El Segundo-based Internet car-shopping service announced Thursday. Terms of the deal were not disclosed.


Hicksville, N.Y.-based 1-800 Communications matches consumers with low credit ratings with various finance options and auto dealers. CarsDirect said the addition of these services would generate higher sales for its dealer network as well as new marketing opportunities. Along with 1-800 Communications, the CarsDirect Special Finance Program will provide leads to dealers, allowing them to select which market areas and how many leads they want to purchase.


“Special finance is a rapidly growing industry that dealers must be competitive in,” Mark Miller, senior vice president at CarsDirect, said in a statement. “Today’s successful dealership offers finance options for all types of customer needs, including buyers who have experienced challenges that negatively impacted their credit score.”


1-800 Communications founder Stuart Heller will join CarsDirect at its L.A.-area headquarters.

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