SARASOTA, Fla. — Leedom Group has announced its two
latest financial products, ACH Collector and the Leedom Convenient World Prepaid Visa Card, are now offered through dealer solutions provider Finance Express.
“These new services create opportunity and convenience for Finance Express dealers,” said David Huber, president of Finance Express. "We process customer payments of close to $2 billion annually for our dealers and the efficiencies alone are a tremendous value added to our dealerships and their customers.”
ACH Collector, rolled out in 2007, is designed to enhance
profitability for buy-here, pay-here dealers and special finance firms by using automated clearing house (ACH) technology to accept payments directly from customer’s checking or savings accounts.
The Leedom Convenient World Prepaid Visa Card, allows consumers without bank accounts to avoid the high costs of
check cashing and money order fees by using the re-loadable debit card. The
fees associated with check cashing are
estimated at over $1,350 per year for the average buy here-pay here customer.
“Available to both BHPH dealers and special finance firms,
the card saves these customers perhaps thousands of dollars over the life of
their finance contract, while at the same
time improving the dealership’s cash flow and reducing delinquencies,” said
Chris Leedom, CEO of the Leedom Group.
Leedom, a licensed dealer in both Florida and Georgia, said he was keenly aware of the importance of helping consumers keep their
costs down and having them pay on time.
“I also understand the critical need to improve cash flow,
increase recency and reduce delinquencies and charge-offs,” he said. “ACH
Collector and the Convenient World Card are designed to help in these critical