Vroom Inc. said on Tuesday it would buy automotive lender United Auto Credit Corp. for $300 million in cash, as the online used car retailer seeks to offer financing options for its shoppers.
Vroom also said United Auto will retain its brand name and the deal is expected to close by the first quarter of 2022.
Shares in Vroom fell 3.5 percent to close at $20.56 on Monday.
