Editor’s Note: This story has been corrected to reflect that used and pre-owned are available for purchase from any participating dealership in the Los Angeles area.
Dive Brief:
- Amazon Autos has expanded its used vehicle purchase financing options with the addition of three major lenders, the e-commerce giant announced on Oct. 7.
- Shoppers now can compare rates between Chase, Santander and Wells Fargo for buying a used or certified pre-owned vehicle, according to the release. Amazon said it plans to add more lenders and offer additional financing options for new vehicles in the coming months.
- Having additional lenders gives customers options when making important purchases, Britt Gannon, VP of advertising and automotive at Amazon, said in a statement.
Dive Insight:
Financing though Hyundai always was an option when Amazon Autos launched in December 2024. The automaker was the launch partner for Amazon Autos, which has since added pre-owned vehicles from participating Los Angeles-area Hyundai dealerships and those sold through Hertz Car Sales.
Amazon Autos has participating dealers in more than 130 cities across the U.S., according to Amazon.
Used vehicle sales work differently for Amazon Autos. Used and pre-owned vehicles are available for purchase through any participating metro Los Angeles dealership with plans to expand, according to Amazon. However, pre-owned vehicles purchased through Hertz Car Sales on Amazon Autos can be picked up at Hertz locations in Dallas, Houston, Los Angeles and Seattle today but will later extend to all 45 Hertz Car Sales sites nationwide.
While Amazon Autos purchasing locations are limited, buyers can locate a vehicle and choose to finance, lease or pay for their purchase in full, according to the release. Those selecting financing will complete an online application and, within minutes, receive multiple offers displayed side by side, making it easier to compare lending options.
"By welcoming Chase, Santander, and Wells Fargo to Amazon Autos, we're helping customers evaluate and select the financing that works best for them, while optimizing the process for dealerships who already know and trust these lenders." Gannon said.
Amazon Autos’ financing allows customers with approved loans to compare details including APR, loan-term length, monthly payment amounts and total interest costs for the loan, per the release. Once a buyer selects their financing option, the paperwork can be completed online followed by scheduling a pickup time for their vehicle at a nearby participating dealership.
Lenders welcome the opportunity to partner with Amazon Autos. It will be especially helpful for used vehicle shoppers, said Bruce Jackson, head of Santander US Auto Business and CEO of Santander Consumer USA.
“Used cars play an essential role in giving consumers access to reliable transportation that fits a wide range of budgets," Jackson said in the release. “At Santander Consumer USA, we recognize how important it is to provide flexible financing options that meet customers where they are.”
