Business Services Industry
Sam's Club Offers Member Shoppers Instant Approval for Online Auto Loans.
Knight Ridder/Tribune Business News, March, 2004
By Mark Glover, The Sacramento Bee, Calif. Knight Ridder/Tribune Business News
Mar. 25--Sam's Club, a division of retailing giant Wal-Mart Stores, has teamed with an online lender to offer its member-customers potentially instant approval on auto loans.
Sam's Club announced details of a partnership with RoadLoans, the Web-based direct-lending division of Triad Financial Corp. RoadLoans is headquartered in North Richland Hills, Texas.
Sam's said its new service will enable customers -- who pay a fee to enroll as members to shop in its stores -- "to instantly qualify for auto loans at rates well below national averages from banks, credit unions and competing warehouse clubs."
Analysts characterized the partnership as more...
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