Farmers, Citibank Team Up on Auto Loans

Los Angeles-based Farmers Insurance, the nation’s third-largest insurer in the auto and homeowners markets, has teamed up with Citibank to offer auto loans through its 14,000 insurance agents. It said it will take a Farmers customer about three hours to be pre-approved for an auto loan made by Citibank. Farmers agents in Oregon and Arizona have already begun to sell loans and the program will be expanded to the remaining 27 states, including California. The auto loans are part of a Farmers strategy to offer a wider variety of insurance and financial products through its existing network of agents.