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"Coopertition" in Automobile Finance on the WebPublished by: TowerGroup Published: Jun. 1, 2000 - 13 Pages Table of ContentsHighlights Introduction Background Players in the Internet Space Coopertition The Incredible Shrinking Web Conclusion AbstractWeb-based loan acquisition is already a key component of most automobile dealer and lender strategies. About 60% of the 22,000 automobile dealerships in North America, most major retail lenders, a half dozen Internet-only banks, and emerging vehicle and finance aggregators have Web sites that accept credit applications. Consumer demand for automobile finance over the Web, however, may be limited due to the importance and complexity of making an automobile purchase and contractual arrangements between automobile manufacturers and dealers. The nature of researching an automobile purchase online and shopping for rates through multiple contacts at multiple Web sites also serves to exaggerate the size of the market for Web-based automobile loan originations.In this report we identify (1) the types of players in the space that have emerged and how their various interactions can be termed "coopertition" and (2) the major financial services institutions (FSIs) and dealer groups involved and their Web branding strategies. We also demonstrate what can be termed The Incredible Shrinking Web by tracing how tens of millions of automobile-related inquiries on the Web in 2000 will result in fewer than 200,000 automobile loans or leases booked online.
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