Oodle Finance and Carsnip sign partnership
Car finance provider Oodle Finance has signed a partnership with the car search engine Carsnip to match car buyers with dealers.
Carsnip will add an optional ‘finance now’ button to their search results, which would link prospective car buyers to Oodle Finance. Dealers will be paid commission on all cars financed by Oodle.
Jonathan Clayton, Oodle’s chief executive, said the deal could shorten the process of financing used cars.
He said: “Both Oodle and Carsnip believe technology can bring car buyers and car dealers closer together for a more seamless and effective experience.
“This exciting partnership was the logical next step in our collective desire to optimise this process and make life easier for car dealers and borrowers.”
Alastair Campbell, chief executive officer of Carsnip, said the deal would prevent online finance companies from receiving car dealers’ commission.
Campbell said: “This new partnership promises to deliver a much simpler way to finance a car by linking search with finance, while protecting dealers finance commission.”