Solera Auto Finance Expands

By Staff Writer August 02, 2022

Solera Auto Finance, after launching in March, has bettered its initial growth estimates, expanding to 37 states with plans to be operational in all 50 states by 2023. By providing a ‘captive-like’ financing solution to the non-prime segment of used car buyers, SAF levels the playing field for independent and franchise dealers and funds deals quickly.

SAF’s lending solution promises to secure funding much faster than other alternatives, which can take days. As SAF's AI-driven technology continues to mature, dealer funding time is expected to shrink to mere hours.

Car dealerships are already seeing the advantages of SAF after receiving rebate checks as part of SAF’s rewards program.

“SAF’s goal has always been to provide a superior car-buying experience that accelerates the funding process and reduces operating costs for dealerships,” said Kenn Wardle, CEO, Solera Auto Finance. “Dealers who are using SAF are starting to see the value of our innovative solution.”

Drive a Dream, an independent dealership in Marietta, Ga., earned a rebate check that reduced its DMS cost by 40% simply by using SAF. “Click and get paid. It’s just that simple,” said Drive a Dream General Manager Bill Dangra. “We sent over deals, received good financing terms, and hit our goal numbers with no effort.”

Wine Automotive, in Chesapeake, Va., saw similar success by utilizing SAF, earning a 19% rebate toward its DMS. “I’m thrilled with the rebate,” said Wine Automotive Director of Finance Brian Korich. “The partnership with Solera Auto Finance helps us close deals quickly, and the rewards program is an added bonus.”

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Last modified on Tuesday, 02 August 2022 15:05