Premier Internet lender E-LOAN (Nasdaq:EELN) is teaming up with eBay(R) (Nasdaq:EBAY), the world's leading person-to-person online trading community, to provide competitive financing options for eBay and AutoTrader.com's recently launched co-branded automobile site, which can be accessed through eBay or www.ebay-autotrader.com. Now up and running on the site, this is the first time auto financing has been offered as part of person-to-person transactions at eBay.

Providing quotes from leading national lenders, E-LOAN's financing options allow buyers to quickly and easily get a loan to purchase a car, offering some of the lowest rates in the industry and online approvals. E-LOAN provides financing for buyers who purchase cars from individuals and car dealerships.

eBay launched a dedicated automobile area -- for collector cars, general used cars, spare parts, and automobilia -- on its site in August 1999, following a groundswell of auto listings from its community members and the company's purchase of Kruse International, the world's largest collector car auction house. Since then, eBay's automobile category has grown exponentially and now accounts for over 25 percent of the value of the merchandise listed on the site. In March 2000 the company announced a long-term alliance with AutoTrader.com, to create the Internet's largest auction-style marketplace to buy and sell used cars.

Published: June 19, 2000

Use of this article without permission is a violation of federal copyright laws.