IRVINE, Calif. — CarFinance Capital LLC, a nonprime auto finance source, today announced the opening of a new office in Fort Worth, Texas. The new facility is expected to house an additional 125 employees, which will serve the Eastern and Central time zones.
The Company, which has been rapidly expanding its lending services to auto dealers across the country, has funded more than $100 million in auto loans in its first 10 months of business, and is helping more than 1,500 auto dealers serve the growing ranks of nonprime consumers, who now account for more than one-third of U.S. car buyers.
"Reaching over $100 million of loan fundings in 10 months — coupled with the opening of our new Texas office — represents significant milestones for CarFinance Capital," said company President and CEO Jim Landy. "As car sales continue to improve and more consumers come back into the market, dealers need increased access to high quality lending, as well as more efficient ways to reach ready-to-buy customers."
Launched a year ago, CarFinance Capital provides auto dealers with indirect, less-than-prime lending solutions, as well as first look opportunity on referrals from its consumer direct lending site, CarFinance.com. The Company currently provides lending services to auto dealerships in multiple states.
The company’s new office will house CarFinance Capital's portfolio management group and credit staff, which will serve the Central and Eastern time zones.
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