WESTLAKE, Texas, March 11,
2022 /PRNewswire/ -- Solera Holdings, LLC ("Solera"),
the global leader in vehicle lifecycle management, today will
unveil Solera Auto Finance at the National Automobile Dealers
Association (NADA) Show in Las
Vegas. Solera Auto Finance is an integrated financing
solution that will enable franchise and independent dealers to
provide competitive-rate auto loans to the full spectrum of used
car buyers.
Solera Holdings today will unveil Solera
Auto Finance at the National Automobile Dealers Association Show in
Las Vegas.
"We believe Solera Auto Finance's commercial value proposition
for franchise and independent used car dealers will positively
impact the automotive industry," said Alberto Cairo, Solera Managing Director of
Vehicle and Fleet Solutions. "Solera Auto Finance provides our
dealer customers with an integrated solution that creates a
seamless journey for car buyers, accelerates the financing and
funding processes, provides a superior car-buying experience, and
reduces operating costs."
The big disrupters in the used car space have a distinct
advantage over most franchise and independent dealerships. They own
their own financing solution or have a captive financing solution.
Solera Auto Finance provides franchise and independent dealers
access to a "captive-like" financing solution that rivals even the
most prominent used car disrupters.
Solera Auto Finance adds a new competitive financing option that
fully integrates with Solera's Dealer Management Systems (DMS),
including Auto/Mate for franchise dealers and iDMS for
independent dealers. Solera Auto Finance offers multiple compelling
advantages:
- Attracting new customers – The used car market is more
competitive than ever. By offering a straightforward financing
solution with an all-digital, online option and competitive
financing rates, Solera believes it will empower dealers to engage
new customers where they are most comfortable doing business and
impress them at every step in the process.
- Providing a fast, simplified lending solution for buyers and
dealers – With Solera Auto Finance, car buyers can
receive financing decisions in seconds. It will also fund the
dealer significantly faster than the current process, which can
take several days for many franchise and independent dealers.
Additionally, as the Solera Auto Finance AI-driven technology
continues to mature, dealer funding time is expected to shrink to
mere hours.
- Improving accuracy – Leveraging the proven AI and data
science expertise of Solera, Solera Auto Finance has created a
sophisticated, highly accurate financing tool. Solera believes this
is good for the dealers and good for their customers.
- Reducing friction for car buyers and dealers – Solera's
purpose-built financing solution layered into its sophisticated
dealership applications provides dealers with an improved workflow
and a differentiated purchasing experience for car buyers.
- Cutting costs – Dealers who take advantage of Solera
Auto Finance will also qualify for a unique rewards program that
can reduce or eliminate their Solera DMS solution fees.
Solera Auto Finance will first launch in Georgia, Indiana, Kentucky, North
Carolina, Oklahoma,
Virginia, and Washington. Solera aims to add more than a
dozen additional states in the short term.
Details about the program, including how to enroll, are
available on the new Solera Auto Finance website,
solera.com/solutions/auto-finance. Solera Auto Finance experts are
available at Solera's NADA booth, 2921, or via email –
info@soleraautofinance.com.
About Solera
Solera is the leading global provider of integrated vehicle
lifecycle and fleet management software-as-a-service, data, and
services. Through four lines of business – vehicle claims,
vehicle repairs, vehicle solutions, and fleet solutions – Solera is
home to many leading brands in the vehicle lifecycle ecosystem,
including AutoPoint, LoJack, DealerSocket, RedCap, Identifix,
Audatex, Omnitracs, eDriving/Mentor, Explore, CAP HPI, Autodata,
and others. Solera empowers its customers to succeed in the digital
age by providing them with a "one-stop-shop" solution that
streamlines operations, offers data-driven analytics, and enhances
customer engagement, which Solera believes helps customers drive
sales, promote customer retention, and improve profit margins.
Solera serves over 300,000 global customers and partners in 100+
countries. For more information, visit www.solera.com.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/solera-launches-innovative-used-car-lending-solution--solera-auto-finance-301500599.html
SOURCE Solera Holdings, Inc.