HAUPPAUGE, N.Y.—GrooveCar has expanded its indirect auto retail program within New Jersey through its partnership with Affinity Federal Credit Union.
Located in Basking Ridge, the $2.3-billion AFCU serves more than 136,000 members and 5,100 businesses, organizations and clubs.
Affinity first joined GrooveCar’s CU Xpress Lease program in April 2015, and then implemented the company’s direct auto loan program last July.
“Due to the overwhelming demand for products like these, Affinity Federal Credit Union decided to move forward with our complete suite of services,” explained Frank Rinaudo, GrooveCar’s SVP. “GrooveCar’s indirect program works with automotive dealerships to provide loan options through credit union auto financing, while delivering the necessary tools credit unions require to expand auto loan portfolios.”
Until recently, Affinity had been managing its indirect retail program in-house. GrooveCar said it will now provide the back office support and in-state representation for signing and maintaining dealerships.
“After a successful deployment of GrooveCar’s direct program and the popularity of the CU Xpress Lease program, we are excited to further partner with GrooveCar and offer our members greater loan options, making their car-shopping experience with us faster, easier and more convenient,” said Theresa Williams-Barrett, Affinity vice president of consumer lending and loan administration.
“The benefits of the indirect program include GrooveCar’s proficiency in expanding the New Jersey dealership base on behalf of Affinity. Our dealership relationship managers have met with eager dealerships looking for additional loan options that are quality based. This program is a perfect fit for this business plan,” Rinaudo stated.
Rinaudo added that members of Affinity can look forward to GrooveCar’s concierge VIP auto buying service.
“Under the GrooveCar VIP service, personalized attention is provided to members assisting them with research, buying and obtaining a loan from their credit union. Basically, the work of purchasing a car is tasked to a GrooveCar member service agent who assists with all facets of obtaining a vehicle for a member,” Rinaudo said. “The convenience of picking up your car, after having all details handled by a service member, is very popular and one aspect of the service that members use year-after-year.”