LAKE ORION, MI, August 23, 2013 /24-7PressRelease/ -- Orion Automotive Marketing Services llc ("Orion"), a Michigan-based startup, launched the "self-certification" auto buying program to help consumers make a good choice when purchasing a pre-owned vehicle and save money in the process. The LenderCertified Pre-Owned Vehicles program is available now at http://LenderCertified.com. Currently available exclusively to Michigan residents, the program helps buyers manage the inherent risks, save money, and control the venue where they find the vehicle. By addressing the two largest questions facing each used car shopper: How do I reduce my risk? And how do I pay for it? LenderCertified.com seeks to transform the certified pre-owned vehicle buying experience.---
The concept of "self-certification" using independent "3rd party" suppliers is a first in the market and essentially combines a quality certified pre-owned vehicle product with a direct, credit union loan. In short, the program is structured whereby a local credit union provides tools that empower the buyer to control the entire vehicle certification process, rather than the seller. "Certifying a used vehicle is really not very complex", states Bill Audette of LenderCertified.com. "After all, the main components of a certified vehicle address the past condition, present condition, title status, and protects against future repair costs."
According to J.D Power, over two-thirds of all used vehicle buyers indicate they're considering purchasing a certified vehicle at the onset of the shopping process. One might conclude with this type of awareness and demand that certified vehicles would make up a large portion of pre-owned sales. However, the numbers do not bear this out. In 2011, 38.8 million pre-owned vehicles were sold in the USA, of which, only 1.7 million (4.3%) were certified by a manufacturer. "There are several reasons for this small number. Considering how large the gap is between the number of certified vehicle's and vehicle's eligible to be certified, it goes beyond manufacturer or dealer operational preferences and lands squarely on the distribution channel being exclusive to car dealerships. Additionally, premium pricing can erode the value", says Mr. Audette.
According to a report published by edmunds.com earlier this year, the trend is improving as 2012 and 2013 have seen somewhat explosive growth in the sale of CPO vehicles by new car dealerships. The increase in CPO sales volume indicates manufacturers and their dealerships have recognized and are working to meet the demand. With demand continuing to rise and the availability still controlled exclusively by dealerships, LenderCertified.com is providing an alternative to the limited availability and premium pricing of manufacturer CPO cars. Now certification is available on vehicles offered by private parties, independent dealers, even franchised dealers that can't certify a vehicle from a competing brand. Because the LenderCertified buying program begins with finance approval, it's important to note that anyone is free to apply and the certification program is available to both current credit union members and in-market shoppers at large.
Several of the most recognized and respected organizations in the automotive industry have partnered with Orion to offer the LenderCertified.com program. Together, these companies will provide the three primary components in the LenderCertified vehicle product including: CARFAX (unlimited free vehicle history reports), AIM / Alliance Inspection Management (no cost, mobile vehicle inspections) and, Universal Warranty Corporation / Ally Auto (nationally recognized vehicle service contracts).
Now people can shop for a used car anywhere, negotiate like a cash buyer, investigate the history, inspect the condition, and protect their purchase, all without a dealership.
LenderCertified.com, the creators of "Self-Certification" offer an auto buying program geared for buyers to certify a vehicle on their terms and save some money with help from a local credit union. As the pioneer in "Self-Certification", LenderCertified is committed to transforming the used car buying experience for consumers by aligning risk management tools, warranty, finance and insurance options with their chosen vehicle.
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