Credit Union Auto Sales and Leasing sells 10,000th new car

SACRAMENTO, Calif. - If auto loans are the lifeblood of credit unions, then credit union service organization CU Auto Sales and Leasing is tapping its credit unions into a fountain of youth. CU Auto Sales and Leasing, an auto broker owned and operated by 11 local area credit unions, has sold its 10,000th new vehicle this month. With the average price of an auto loan at $20,000, so far the program has brought in an estimated total loan revenue of $200 million. The 15-year old CUSO has streamlined the car buying process for members while encouraging financing through its member credit unions. "It's so easy and convenient for people to place their vehicle order. They can call us on the phone, stop by in person, or e-mail us from home or work," said Mark Henn, CU Auto Sales president and CEO. For a fee of $50 members can specify the exact model, color and options they want and CU Auto will contact its network of dealerships to find, negotiate and deliver the vehicle at the lowest price available. The member also has the option of trading in their existing vehicle at the time of purchase. It is a haggle free experience for the members and the credit unions don't have to be concerned about CU Auto stealing their financing opportunities. If financing is necessary, then CU Auto refers members to the credit union and tries to qualify nonmembers. "Because there are many community chartered credit unions in California, it makes it easier for nonmembers to qualify," said CU Auto Marketing Manager Julie Moeller. According to Moeller marketing is primarily by referral. The 11 credit unions usually have brochures, inserts and post billboards or site links on their Web sites. They also provide members looking for a car with referral cards which offer discounts of either 1/2 off the service fee or $100 off the price of a used car. Three years ago, in response to demands by members, CU Auto began offering used cars. In keeping with the "no haggle" spirit, prices are clearly posted on each car and are priced between wholesale and mid-Kelley Blue Book values. All used cars have a three day, 300-mile money back guarantee backed by CU Auto. CU Auto has also recently branched out into leasing cars. A large selection of the used, new and leased cars are available and on display at the Stockton and Sacramento car lot locations. Remaining locations in Modesto, Clovis and Fresno are in-branch offices which are used mostly for paperwork. In July, a new branch office is scheduled to open in Rancho Cordova. Vehicles can also be viewed and purchased online at the CU Auto Web site www.cuauto.com. -mbourjollycutimes.com