Solera Launches Innovative Used Car Lending Solution

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…