XpressCredit Partners With Allied Solutions to Increase Access to Powersports Loan Apps
A new partnership between XpressCredit, a Web-based credit aggregation system, and Allied Solutions, a provider of insurance, lending and marketing products to financial institutions, will bring loan applications from more than 400 powersports dealers to Allied’s more than 3,700 financial institutions.
NORTH
SYRACUSE, N.Y. — A new partnership between XpressCredit, a Web-based credit
aggregation system, and Allied Solutions, a provider of insurance, lending and
marketing products to financial institutions, will bring loan applications from
more than 400 powersports dealers to Allied’s more than 3,700 financial
institutions.
"We are excited to build upon our relationship with Allied Solutions. XpressCredit is proud to be a leading driver in the powersport industry and to grow our successful relationship with Allied," Mark Louer, executive vice president of XpressCredit, commented.
XpressCredit automates and accelerates the indirect financing process between powersports dealers and lenders by providing dealers with the technology to pass filtered credit applications to multiple lenders. With this process, Allied Solution’s financial institutions will have the opportunity to receive loan applications that meet their underwriting parameters.
As participating finance sources on the XpressCredit platform, the Allied Solution’s financial institutions will gain immediate access to franchised powersports dealers located within their footprint.
"With today’s market conditions the timing could not be better to introduce this new indirect lending offering to our financial institution clients. They will now have an opportunity to take advantage of this growing market segment by leveraging XpressCredit's technology and extensive dealer network to acquire new loans," said Pete Hilger, executive vice president of Allied Solutions.
More Auto Finance
July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Auto Refi Savings Surge
Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.
Read More →
Subaru Enters Lending Business
The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.
Read More →
Positive Equity Reaches Record High
Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.
Read More →
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →