DALLAS, Nov. 3, 2020 /PRNewswire/ -- MUSA Auto Finance, an automotive finance and technology lender specializing in effortless leasing, has announced its plans to expand both new and used car leasing nationwide through a partnership with two large U.S. financial institutions working together toward securitization.
"We are excited to continue MUSA's growth through this exclusive, and we believe, first-of-its-kind funding arrangement. We remain committed to increasing the use of what we call intelligent automation here at MUSA. In fact, our proprietary leasing and lending platform is very popular with our dealer partners nationwide," said Jeff Morgan, CEO of MUSA Auto Finance.
"My team and I specialize in new and used auto leasing, which has consistently been the biggest growth sector of auto finance for the past several decades. Leasing performs remarkably well in any type of economy when structured properly," Morgan said. "In addition, MUSA's technology and platform have been enhanced to serve higher demand and market expansion, such as retail auto loans; direct-to-consumer for our lease returns; and a fully remote leasing and loan experience that can be executed beginning to end, from anywhere. Our team includes some of the best the industry has to offer, and I intend to make more exciting announcements in the weeks and months to come."
Since its inception, MUSA has automated the time-consuming, manual processes traditionally associated with leasing and buying a vehicle. One of MUSA's technology platforms processes the application, calculates the lease, auto-decisions the application, provides an approval back to the dealer partner, and accurately pre-fills the lease contract in seconds. Automated approvals normally occur in just a few seconds, and consumers can even upload supporting documents via their mobile device.
About MUSA Auto Finance
MUSA Auto Finance is an auto finance company and a technology innovator in the new and pre-owned vehicle industry. The company originates its customers from franchised and select independent dealers.
In 2019, MUSA partnered with PowerBand Solutions, Inc. (TSXV: PBX) (OTCQB: PWWBF) (Frankfurt: 1ZVA) ("PowerBand", "PBX" or the "Company").
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SOURCE MUSA Auto Finance