7. February 2009 15:53
By
eCarNews.com
In
Car Buying
Equity stake in Zag will help customers find and finance a car at discounts.
Based on tens of thousands of positive member experiences over the past two years, USAA today announced it is taking an equity position in privately-held Zag, the nation's premier online auto-buying service, based in California. Terms of the transaction were not disclosed.
Zag, created in 2005, provides an end-to-end buying service that enables customers to research and comparison shop the vehicle of their choice online from their home or office, and then buy it through a certified network dealer for an upfront guaranteed low price. The buying process is integrated with USAA's other offerings so USAA members can finance and insure their new vehicle in the same online transaction. And by streamlining the process, consumers routinely realize savings of several thousand dollars per car.
"Our number one mission at USAA is to provide highly competitive products and outstanding service to our members," said David Bohne, president of USAA Federal Savings Bank. "Zag's service aligns with our mission — enabling us to give our members a car-buying process that actually puts them first and keeps them in the driver's seat." More...