"We’ve been a leader in bi-weekly administration for years, helping people with all kinds of loans, including car payments," said Dan Lipsky, NBA's president. "The launch of the Bi-weekly Auto Payment program is a natural and powerful extension of what we already do so well."
The new program is designed to help buyers purchase add-ons, reduce the length of their loan and expand their pool of vehicle choices. A Web-based application will make it easy for dealers to enroll their customers in the program, according to the company, and will feature tools such as a payment calculator, savings analysis, enrollment and administration, interface to internal and external systems, consumer video, commission payments, and reports and tracking in real-time. The new program is already integrated with DMS providers Reynolds & Reynolds and DealerTrack.
"We want to make it easy to do business with us," Lipsky said. "But more importantly, we want it to be easy for dealers to generate more revenue, higher profits and better margins."