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Finance Express Founders Launch Dealer Vision

June 18, 2007

Rancho Santa Margarita, Calif. — Founders of Finance Express, which operates an online auto finance platform specifically designed for the independent used-car dealer, announced the launch of Dealer Vision, a new company created to revolutionize the F&I process for independent used car dealers. Dealer Vision's newly formed association with JM&A Group, one of the largest independent insurance and extended warranty groups of companies in the U.S., along with its exclusive relationship with Finance Express, will enable its customers to coordinate the closing and funding of automotive purchases and offer aftermarket products directly to the consumer via a live video interface between the customer, the dealer, the Finance Express DMS system and a trained, professional F&I manager.

"Dealer Vision virtually links independent auto dealers with qualified F&I managers through its patent-pending technology," states Fred Morgan, chief executive officer of Dealer Vision. "Our goal is to provide a method of closing automotive transactions professionally and to offer aftermarket products in a manner which is not only in full compliance with state and federal requirements, but affords the dealership owner the opportunity to offer these services without incurring the expense of employing a full-time F&I manager."

Dealer Vision gives independent dealers the ability to concentrate on selling cars. The task of closing transactions and offering finance and aftermarket products are achieved directly with the customer, visually and in real time by professional F&I managers trained by JM&A Group. Because products are introduced on every transaction, whether cash or finance, more cash purchases will have aftermarket sales and more financed transactions will be secured with service contracts and GAP policies. It also means that transactions will always be completed professionally, according to the latest regulatory requirements.

"Dealer Vision, paired with the Finance Express platform, solves an age-old challenge within the independent used vehicle dealer channel," says Mike Casey, vice president of strategic alliances with JM&A Group. "Dealer Vision provides dealers with access to compliant and proven F&I processes which we have been using in the new vehicle franchise space for years. We believe dealers taking advantage of this program will see immediate impact to their bottom line. This is the first time we have seen a comprehensive F&I solution for the independent used vehicle dealer space."

"The initial reaction from both dealers and lenders, has been incredibly positive," says Dave Huber, president of Finance Express. "Regardless of the size or type of dealership, most owners understand the benefits of outsourcing their F&I departments. This relationship helps complete the vision of Finance Express by allowing the dealer to do what he does best, and at the same time improve the performance and the profitability of his dealership. Dealer Vision is a giant leap forward toward narrowing the gap between new and used car dealers."

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