SEATTLE, April 8, 2021 /PRNewswire/ -- DigniFi, an automotive financing platform, today announced an expanded partnership with AutoNation, Inc. ( NYSE: AN), America's largest and most recognized automotive retailer, and TR Wholesale Solutions, a Tire Rack Company, known as America's largest direct-to-retailer tire business and independent tire tester. AutoNation uses TR Wholesale Solutions' digital tire shopping platform to help its Service Advisors and customers shop, compare and order tires. By introducing DigniFi into this experience, AutoNation and TR Wholesale Solutions' can help customers finance tires that offer superior safety and performance.
COVID-19 has changed how drivers approach vehicle repairs and maintenance. Between July and December 2020, AutoNation saw an increase in service financing. With record numbers of Americans out of work, drivers were hesitant to spend on high-ticket maintenance and repairs as well as new tires, which tend to be one of the largest-cost items for a newer vehicle still under warranty.
"Tire selection is first and foremost about safety," said Aaron Reitman, Vice President of Corporate Accounts at TR Wholesale Solutions. "Especially in a financially difficult year, drivers are tempted to replace their tires with a budget set, which tend to offer decreased performance on wet or snow-covered roads. With DigniFi integrated into our tire shopping tool, we can show customers that safer, higher-performance tires are within reach because flexible financing is just a few clicks away."
DigniFi's automotive financing platform helps people afford vehicles, auto repairs, upgrades, accessories and trade-ins with flexible payment terms. Customers apply for financing on their personal smartphone and receive an instant decision from a lender. On average, automotive businesses that offer DigniFi increase annual revenue by up to 20 percent.
"New tires are the first major expense of the ownership cycle and the first defection point in service loyalty," said Dave Wilmore, SVP of Customer Care & Brand Extensions at AutoNation. "Service financing enables our customers to purchase the correct tires with a payment schedule they can handle. This partnership with DigniFi and TR Wholesale Solutions furthers our commitment to keep every customer safe on the road, no matter what their financial situation is."
Since 2019, AutoNation has partnered with DigniFi to finance repairs and maintenance for customers. DigniFi has improved customer loyalty and engagement by offering transparency, choice and convenience in the service experience. It has also enabled AutoNation Associates to offer premium auto services for their customers.
"AutoNation and TR Wholesale Solutions already lead the market in providing a seamless, digital shopping experience for tires," said DigniFi CEO Richard Counihan. "DigniFi can complement their strengths by making financing accessible to consumers who might otherwise skip, delay or underfund tire purchases.
Tire financing from DigniFi is now available in-store at 244 AutoNation stores and online at www.autonationtirestore.com.
DigniFi is a platform company that connects consumers with lenders for car repairs, tires, accessories, and other auto-related needs. The automated, contactless process serves up financial products through the point of sale at car dealerships and independent repair shops. DigniFi provides consumers with access to fixed payment plans. The loans are originated by WebBank, Member FDIC. To date, DigniFi has provided access to over USD $120 million in loans in partnership with more than 5,000 auto service centers. For more information, please visit www.dignifi.com.
About AutoNation, Inc.
AutoNation, America's largest and most recognized automotive retailer, is transforming the automotive industry through its bold leadership, innovation, and comprehensive brand extensions. As of December 31, 2020, AutoNation owned and operated over 315 locations from coast to coast. AutoNation has sold over 13 million vehicles, the first automotive retailer to reach this milestone. AutoNation's success is driven by a commitment to delivering a peerless experience through customer-focused sales and service processes. Since 2013, AutoNation has raised over $25 million to drive out cancer, create awareness, and support critical research through its DRIVE PINK initiative, which was officially branded in 2015.
Please visit www.autonation.com, investors.autonation.com, www.twitter.com/CEOMikeJackson, and www.twitter.com/AutoNation, where AutoNation discloses additional information about the Company, its business, and its results of operations. Please also visit www.autonationdrive.com, AutoNation's automotive blog, for information regarding the AutoNation community, the automotive industry, and current automotive news and trends.
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