Sydney, Australia, Sep 11, 2014 - (ABN Newswire) - Cash Converters International Ltd (ASX:CCV.AX - News) ("the Company") is pleased to announce that its subsidiary, Green Light Auto Group (GLA), trading as Carboodle, has entered into a Referral Agreement and a Broker Agreement with Australia's leading online car finance broker, Aussie Car Loans.
Under the Referral Agreement, customers that fall outside of the lending matrix criteria for Aussie Car Loans panel of lenders, can now be referred to GLA and access the financial service products offered by Carboodle.
Carboodle is a licenced motor vehicle dealer providing customers who don't have access to mainstream credit with a reliable and well maintained car (retail and commercial) via a lease structure which incorporates most of the vehicle's running costs.
Furthermore, under the Broker Agreement, GLA will have access to Aussie Car Loans panel of lenders.
This will enable GLA to offer a wider variety of finance options and products to its customers and open up a new market segment not previously covered by the Carboodle product.
Aussie Car Loans is an independent, national finance and insurance brokerage that provides competitive interest rates and terms through a broad range of lenders for the purchase of a large selection of different vehicles.
Managing Director of Cash Converters, Mr Peter Cumins said, "It's a very exciting opportunity for us to accelerate the growth rate of the Carboodle business. Aussie Car Loans is a very well known and successful brand and this deal is a great fit for both Companies".
Managing Director of Aussie Car Loans, Mr Joe Martinovic said, "I'm looking forward to working closely with the team at Carboodle. This new relationship will give our clients and Carboodle's clients more choice and flexibility".
About Cash Converters International Ltd:
Cash Converters International (ASX:CCV.AX - News) is a franchised retail network listed on the ASX. It specialises in the sale of second-hand goods. The Cash Converters group employs modern retailing practices, professional management techniques and high ethical standards to the management of its stores throughout the chain which appeal to a wide cross section of the community. As a result, Cash Converters has been able to position its outlets as credible retail merchandise stores, resulting in a profitable market for the group.
Cash Converters International Ltd T: +61-8-9221-9111 F: +61-8-9221-9011 WWW: www.cashconverters.com Ralph Groom Company Secretary Cash Converters International Limited
Cash Converters International Ltd
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