NEW YORK--(BUSINESS WIRE)--Vroom (www.vroom.com), a leading national online used auto retailer, today announced a preferred lending and strategic relationship with Chase. In addition to a simplified financing experience, this innovative partnership is designed to bring unique value to both Vroom and Chase customers.
In 2020, the companies will launch Vroom Financial Services Powered by Chase, which designates Chase as Vroom's preferred lender. Chase will have an experienced, aligned team of underwriters, marketers and servicing representatives to support customers who use Vroom.
“A seamless financing process is one of the key components of our mission to bring the car buying process online and into the digital age, so we’re thrilled to partner with Chase to make this part of the purchase experience even faster and easier for our customers,” said Mark Roszkowski, Chief Revenue Officer at Vroom. “We’re looking forward to having Chase as our preferred lending partner and collaborating with the team on an ongoing basis for additional opportunities to serve our customers.”
Vroom has helped arrange financing for hundreds of thousands of car buyers to date. While other used car retailers act as their own lenders or participate in a more traditional agreement with outside lenders, Vroom's partnership with Chase creates a more tightly integrated and flexible financing relationship, which when combined with continuous testing and optimization of a new digital end-to-end lending process, will ultimately provide increased lending power across a broad array of customers. The team will begin to operationalize aspects of this partnership later this year.
Vroom’s focus is making it easy for consumers to make the car they want, the car they drive. A national online auto retailer, Vroom offers thousands of low-mileage, reconditioned vehicles with delivery directly to consumers. Vroom’s Sell Us Your Car™ service allows customers to receive cash offers for their vehicles in minutes. The company is based in New York and Houston. Vroom also operates the Texas Direct Auto brand. For more information, visit vroom.com.