The company will continue growing its indirect lending business while also branching into direct-to-consumer financing, traditional retail financing, and lending across the full credit spectrum.
Chief Executive Officer Jon Lamb and President Craig Vaughn will lead MUSA in the expansion of its used car leasing platform, as well as new ventures into traditional retail auto finance, direct lending and serving customers across a wider credit spectrum.
MUSA Auto Finance announced its plans to expand both new and used car leasing nationwide through a partnership with two large U.S. financial institutions working together toward securitization.
PowerBand Solutions is set to purchase 60% of the parent company of MUSA Auto Finance, a move designed to give PBX a competitive edge in acquisition, leasing, lending, and auction services.
With MUSA's auto-decisioning capabilities, dealers can expect callbacks within 30 seconds, according to officials. They say dealers don't have to be leasing experts to get one done with the company.
The finance source’s new portal was designed to automate what has been a typically complicated process. With its launch, MUSA is looking to sign up dealers in Arizona, Arkansas, Delaware, Idaho, Indiana, Kansas, Kentucky, Michigan, Minnesota, Mississippi, Montana, Nebraska, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Utah and Virginia.
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