IRVINE, Calif., June 28, 2011 /PRNewswire/ -- CarFinance Capital LLC (www.CarFinanceCapital.com), a new, specialized provider of non-prime auto financing for automotive dealers, today announced that it has launched in Texas. Following a successful roll-out in California in May, CarFinance Capital is now making its service-oriented program available to Texas auto dealers to help them provide financing to the fast-growing ranks of non-prime car buyers. Led by an experienced team that previously built Triad Financial, one of the largest U.S. auto finance companies, CarFinance Capital intends to have a broad and lasting presence in Texas, which is one of the nation's top vehicle markets.
"Just a few weeks after we launched in California, hundreds of dealers and their customers are already benefiting from CarFinance Capital's new, dealer-friendly non-prime auto financing model," said Jim Landy, CarFinance Capital's president and CEO. "Dealers want to work with a provider who offers consistency, flexibility and one-on-one support. Our mission is to fill that role and provide premium service to Texas dealers so they can meet the needs of all their customers."
According to Landy, CarFinance Capital launches at a time when non-prime car buyers represent one of the auto industry's most powerful, future growth markets, but dealers still lack the right, specialized lending partners to tackle the vast industry opportunity.
The CarFinance Difference for Dealers
The CarFinance team's deep background partnering with auto dealerships means that they understand the importance of smoothly facilitating the dealership sales process, rather than inhibiting it, which is why the product is designed to eliminate any surprises in credit and/or cashing contracts and to be consistent across the board. Benefits include:
- Credit for the mid-market non-prime spectrum: from 550 FICO, through 675
- Beyond black and white decisions: loan decisions preserve dealer flexibility and negotiating room, offering structuring options on an average approval, ensuring dealers can put together more profitable deals.
- Speed on contract funding side: so dealerships get reimbursed fast.
- One-on-One support: customer service experts available to answer questions and provide help.
About CarFinance Capital LLC
CarFinance Capital LLC (www.carfinancecapital.com) is a fresh new company focused on partnering with franchise auto dealers to provide credit to non-prime consumers. Dedicated to premium service for its customers, CarFinance offers one-on-one support, consistent, predictable credit decisions, fast funding, multiple lending options, and deal-structuring flexibility to help auto dealers meet the needs of today's non-prime car buyer. Headquartered in Irvine, California the company is led by Jim Landy and a seasoned team of executives that have long histories working together in the non-prime auto market.
SOURCE CarFinance Capital LLC